KUWAIT, May 1 (KUNA) -- Kuwait Fund for Arab Economic Development (KFAED)
signed a loan agreement of KD 7.5 million to finance rehabiliation of water
network and sewage project in Havana, the Republic of Cuba.
KFAED's press release said, on Tuesday, that another related guarantee and
project agreements were also signed between the Fund and representatives of
the Republic of Cuba, namely the Institute of Hydraulic Resources.
The Guarantee Agreement was signed on behalf of the Republic of Cuba by
Vice Minister of Finance and Prices Felix Martinez Suarez. The Loan Agreement
was signed on behalf of the Central Bank of Cuba "Banco Exterior de Cuba" its
President Jacobo Peison Weiner; furthermore, the Project Agreement was signed
on behalf of the Institute of Hydraulic Resources' Vice President by Jva Jose
Gonzalez Escudero. All three Agreements were signed on behalf of KFAED's
Director-General Abdulwahab Al-Bader.
The aims of the Project are to meet the future demand for drinking water ,
reduce the loses in the transmission and distribution networks and protect the
natural resources and the environment for about 550 thousand inhabitants
living in 12 municipalities within the city of Havana through rehabilitation
of water and sewerage network and installation of water meters.
The 12 municipalities within the project area are divided into two groups
based on the degree of urgency. The first group consists of 7 municipalities
namely; Cotorro, San Miguel, Guanabacoa, Habana del Este, Habana Vieja, La
Lisa and Arroyo Naranjo. The second group consists of 5 municipalities namely;
10 de Octubre, Centro Habana, Cerro, Marianao and Boyeros. This is the
third loan provided by KFAED to the Republic of Cuba. Two past loans of KD 7.5
million were also given to Cuba to finance the Santiago de Cuba Water Supply
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