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16:06 GMT
KUWAIT, Oct 7 (KUNA) -- Kuwait has signed USD ten-million loan agreements
to fund Garoe Airport and Maakhir University in Somali, Kuwait Fund for Arab
Economic and Development (KFAED) announced in a statement Monday.
Kuwait Fund would manage the finance of these two projects which would
greatly benefit the country's infrastructure. Funding the airport would allow
it to handle air transportation, inside and outside the country, more easily
and securely.
The airport project will include building plane runway, passengers
building, air traffic control tower, planes parking spots, runway lighting as
well as fire and rescue stations.
Maakhir University project, meanwhile, aims at providing higher education
in all fields to produce qualified manpower who would, hence, meet market
demands in the country. The project includes building campus, lecture rooms,
laboratories, sports arenas, libraries, computer rooms, dormitories and other
college services.
The Kuwaiti Fund previously granted four loans to Somalia that amounted,
collectively, to KD 28.8 million (USD 98.1 million). These loans financed
electricity and agricultural projects. Other two technical loans of KD 417,000
(USD 1.6 million) were also given to Somalia. (end)
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