Kuwait Fund for Arab Economic Development (KFAED) signed here Thursday a USD 27 million grant and a USD 5.5 million loan that will help fund several projects in Lebanon and also provide aid to Syrian refugees.
Speaking to the KUNA, Director General of the KFAED Abdulwahab Al-Bader said that the sum will fund a slaughterhouse project in Tripoli, provide donation to support Lebanese communities hosting Syrian refugees, and finance a number of projects in southern Beirut, including an emergency center in Ghobeiry, the historical Beaufort Castle in Nabatieh and the project of Litani River in Beqaa Valley.
In a previous statement, Al-Bader said that the financial aid extended by the Kuwait Fund for Arab Economic Development (KFAED) is contributing to the social and economic development of Lebanon.
Showing Lebanon's gratitude, President of the Council for Development and Reconstruction (CDR) Nabil El-Jisr thanked KFAED for its generous support, affirming that the signing of the accord will help Lebanon to develop and also aid communities like the Syrian refugees to overcome their harsh situation.
KFAED signed with Lebanon 22 loan agreements worth KD 211 million. The fund also provided eight grants worth KD 3.5 million to fund projects in Lebanon within the healthcare and government training sectors.