KFAED Lends Syria $25.5Mn For Electricity Project
The Kuwait Fund for Arab Economic Development (KFAED) has extended a loan of KD7.65mn (about $25.5mn) to Syria to help finance an electric power project in the Damascus area, involving the installation of 10 transformer substations and a total of 92 kms. of high voltage transmission lines. The Kuwaiti loan will cover about one-third of the total cost of the project, estimated at $77mn. Work on the...