Kuwait signs KD 20.5m loan agreement with Sudan

GMT 17:44 2014 Wednesday ,03 December

Arab Today, arab today Kuwait signs KD 20.5m loan agreement with Sudan

Nawaf al-Mehmel, KFAED's legal advisor
Khartoum - KUNA

Kuwait Fund for Arab Economic Development (KFAED) signed Wednesday a KD 20.5 million-loan agreement with Sudan to finance a power project in east of the country.
The agreement was signed by Undersecretary of Ministry of Finance Mustafa Holi for the Sudanese side, and Nawaf Al-Mehmel, KFAED's legal advisor, for the Kuwaiti side.
The new loan is the second of its kind as KFAED previously provided the Sudanese government with KD-25-million-loan to finance the power project, bringing the total to KD 45.5 million, Al-Mehmel stated to KUNA He noted that these loans are part of Kuwait's commitments to reconstruct East Sudan during the International Investors and Donors Conference on East Sudan, hosted by Kuwait in December 2010.

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