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KFAED, Lebanon ink loan and grant accords

Kuwait Fund for Arab Economic Development (KFAED) ink loan and grant accords
Kuwait Fund for Arab Economic Development (KFAED) ink loan and grant accords
BEIRUT, Feb 8 (KUNA) -- Kuwait Fund for Arab Economic Development (KFAED) on Thursday signed two loan accords to finance two sewage networks and a grant agreement for building security facilities at a border point.
KFAED General Director Abdulwahab Al-Badr and Chairman of the Lebanese Development and Construction Nabil Al-Jiser inked the agreement at a gathering, attended by the State of Kuwait Ambassador to Lebanon Abdulal Al-Ginaee, Fawzi Al-Zioud, Chairman of the International Organization for Migration office in Lebanon, and Regional Director of Arab States at KFAED, Abdullah Al-Saqer.
In a statement to KUNA, Al-Bader said the grant would finance second phase of the border Al-Abboudiyah checkpoint adding that the loan would be for building two water sewage networks in the Shouf Mountains.
A KFAED's delegation visited Lebanon, two weeks ago, to assess Al-Brisa dam project in Al-Dinniah in the north, in preparation for alloting sums for the project.
For his part, Al-Jiser explained that the two water networks would be set up in the ancient mountainous town Deir Al-Qamar and Al-Manasef village, at a cost of USD 15 million dinars (USD 50 million). These networks would be used by some 20 villages and be helpful in limiting underground water pollution.
He added that the grant would be to construct facilities for the General Security Force at the northern border checkpoint at a cost of USD 1.5 million.
Al-Jiser expressed gratitude to the State of Kuwait namely His Highness the Amir for aiding the country. (end) ayb.rk