Mubasher: The Kuwait Fund for Arab Economic Development (KFAED) has provided 107 countries with direct loans as well as financial grants for technical, financial, and economic studies on development projects, the Director General of Kuwait Fund, Abdulwahab Al Bader, said.
Al Bader clarified that Egypt tops the list of countries benefited from KFAED, with a total of 45 loans valued at KWD 833 million ($2.76 billion), the Kuwait News Agency (KUNA) reported.
Egypt will be granted aids by Kuwait Fund for developing Sinai in cooperation with several Arab organisations and institutions in the development segment, Al Bader noted.
Kuwait Fund has a capital estimated at KWD 2 billion ($6.6 billion), while its assets reach KWD 5 billion ($16.6 billion).
