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Kuwait fund to finance new projects in Middle East
17 January 2017
By Marwa Abu Al-Majd
The Kuwaiti government-owned Kuwait Fund for Arab Economic Development (KFAED) will finance infrastructure and other projects in Egypt, Sudan, Yemen and Lebanon in 2017, according to the Fund’s Director General Abdulwahab Al-Bader.
“We intend to spend $850 million to fund projects worldwide in 2017,” he told Zawya Projects, adding that KFAED’s activities have not been affected by weak oil prices
He said projects in Egypt include a sea water desalination plant in the Northeastern Port Said and extending electricity for houses in Sinai Peninsula.
The Fund will also finance infrastructure projects in Ibb governorate in Southern Yemen, sewage and irrigation water projects in Chouf district in southeast Lebanon and a power generation plant in Sudan, he said.
Over the past four years, the fund has helped finance projects worth $5.03 billion globally in transport, health, education, energy, power and water sectors, including Egypt, Sudan, Tunisia, Yemen, Lebanon and Mauritania.
© Zawya Projects News 2017