VOL. XLI

No. 12

23-March-1998

KUWAIT

KFAED Lends Lebanon $59Mn

The Kuwait Fund for Arab Economic Development (KFAED) will lend Lebanon a total ofKD18mn ($59mn) under two loan agreements signed on 10 March. The first loan, for KD6mn($20mn), will finance a road project in the Hirmil area in North Lebanon and the secondloan, for KD12mn ($39mn), will finance another road project in Beirut. The loans willcarry interest at 4.5% annually and are repayable in 25 years after a 5-year grace period.The...