By NNN-KUNA
Kuwait : The Kuwait Fund for Arab Economic Development (KFAED) has announced it will soon sign a loan agreement worth 16 million Kuwaiti dinars (USD 59 million) to contribute in the financing of a traffic dam project in Sudan.
KFAED said in a statement Thursday the project aims to meet the demand for electric power and reducing the cost of electricity production through the establishment of a dam and a hydroelectric station on the Nile River.
Nineteen loans have so far been granted to finance various projects totalling 122 million dinars (USD 448 million).