KFAED signs loan deal with Togo to finance water supply project

31/01/2019
KFAED signs loan deal with Togo to finance water supply project

Nedhal Abdulaziz Al-Olyan and Sani Yaya

A loan agreement between the Republic of Togo and the Kuwait Fund for Arab Economic Development (KFAED) has been signed in Lomé, whereby Kuwait fund extends a loan in an amount of 7 million Kuwaiti Dinars, equivalent to about $23 million, to participate in the financing of the water supply for Kara City and the surrounding areas project.

It is worth mentioning that the fund is a Kuwaiti public corporation, which relies entirely on its own resources for making loans and providing other kinds of development assistance.

The loan agreement was signed by Sani Yaya – Minister of Finance of the Republic of Togo, on behalf of the Republic of Togo, and Nedhal Abdulaziz Al-Olyan, Deputy Director-General of Kuwait Fund, on behalf of Kuwait fund in attendance of Thamer Al-Failakwi, Regional Manager, West African countries at the fund.

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