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Kuwait Fund for Arab Economic Development provides $1.67bn finance in 2019

Kuwait Fund for Arab Economic Development provides $1.67bn finance in 2019
Egypt topped receivers of KFAED's finance in 2019

Mubasher: Kuwait Fund for Arab Economic Development (KFAED) has provided loans worth of $1.67 billion to different countries and entities during 2019.

The biggest finance provided by the fund this year was a $1 billion loan granted to the Egyptian government through a memorandum of understanding for development projects in Sinai, the Kuwait News Agency (KUNA) reported on Wednesday.

The lowest finance given by the KFAED was a $2 million donation agreement with Jordan’s Al-Hussain cancer centre for treatment of Syrian refugees.

Among the countries cooperated with the KFAED in 2019 are Egypt, Jordan, China, Belize, Togo, Benin, Burkina Faso, Iraq, Bosnia and Herzegovina, Niger, and Nigeria.