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KFAED signs KD 23 million loan agreements with Dhaka, Djibouti – Deals to finance development projects

KUWAIT CITY, March 28, (KUNA): Kuwait Fund for Arab Economic Development (KFAED) signed two loan agreements with Bangladesh and Djibouti, totaling KD 23 million (about $78 million), for financing development projects in the two countries. The project in Bangladesh estimated at KD 15 million (about $51 million) aims to contribute to the enhancement of social and economic development projects through improving facilities in 53 areas, KFAED said in a statement on Tuesday. It includes execution works required to the urban infrastructure development containing the establishment of bridges, roads, umbrellas on roads and others, it added, expecting that the scheme is expected to end by 2021.