KFAED offers 372 transport loans worth USD 6.4 bln to 82 countries

KUWAIT, May 21 (KUNA) — The Kuwait Fund for Arab Economic Development (KFAED) has offered 372 transport loans worth KD 1.9 billion (USD 6.4 billion) to 82 countries by the end of December 2015, KFAED has said.
They constitute up to 34 percent of the total loans presented by the fund, it added in a statement.
The integration of the transport sector which is the backbone of infrastructure in any country, positively affects other development sectors, it noted.
The fund has contributed to the financing of a multitude of road projects in the beneficiary countries, according to the acknowledged international engineering specifications.
Many world countries have lauded KFAED’s development role over the past 54 years, in particular its soft loans to the transport sector, the statement said. The KFAED extends Loans on concessionary terms to finance development projects in the developing countries, it added.
It also offers technical assistance to finance the costs of the feasibility studies of projects, as well as the training of nationals at the target countries. (end) skm.msa.msa

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