Financial and Banking News

AID FLOWS

KFAED Lends $48.18bn to Sudan 

The Kuwait Fund for Arab Economic Development (KFAED) has agreed to provide two loans worth $48.18mn to Sudan to help improve the country's electricity grid and to rehabilitate the agricultural sector, according to agreements signed in Khartoum on 3 June. The first loan, for $34.91mn, will be used for a new project designed to provide an adequate electricity supply for domestic and industrial use. The second...