Kuwait Fund for Arab Economic Development (KFAED) signed Monday a loan agreement with Senegal according to which KFAED would lend the African country KD five million (USD 17 million) to finance the Touba-Dahra-Linguire Road rehabilitation project.
Senegalese Foreign Minister Mankeur Ndiaye signed the agreement with KFAED Director General Abdulwahab Al-Bader in a ceremony attended by Senegalese President Macky Sall.
The 115-kilometer-long Touba-Dahra-Linguire Road rehabilitation project aims at supporting economic and social development in central Senegal and link the region with the capital Dakar, as well as lowering costs of transportation of agricultural products and people.
The project is expected to be completed by end of 2016.
KFAED has so far offered 28 loans to Senegal with a total value of around KD 95.32 million, in addition to KD 663,000 worth of technical assistance.