Kuwait – Mubasher: The Kuwait Fund for Arab Economic Development (KFAED) has stated that it has provided KWD 610.1 million ($2 billion) in loans to West African countries, Kuwait News Agency (KUNA) reported on Wednesday.

The loans have totaled 172 loans between 1962 and 2016, the fund said.

The transportation sector received the lion’s share of the loans with 90 loans worth KWD 331 million, representing around 54% of the total, KFAED’s regional manager for West Africa Thamer Al-Failakawi told KUNA on Tuesday.

“These projects are vital to achieve sustainable development in this region,” the top official stated.

Meanwhile, loans for water projects, totaling 23 loans, amounted to KWD 62 million, while agriculture funds, totaling 20 loans, were worth KWD 65 million, the fund reported.