KUWAIT, March 26 (KUNA) -- The Kuwait Fund for Arab Economic Development (KFAED) has signed a loan agreement of KD 7.5 million (USD 25.5 million) with the Central Bank of Cuba to fund drinking water and sewage networks in the capital Havana.
This is KFAED's second loan for the same project in Cuba, said the fund in a statement on Thursday. The project aims to fulfill the increasing demands for water, protect the environment and provide better health conditions for about 550,000 people in five districts in Havana, the statement added.
The total of loans given to Cuba by KFAED reached USD about KD 14.9 million (about USD 51 million), divided into four laons, to fund different drinking water and sewage projects.(end)