A Kuwaiti loan to Lebanon worth 200 million dollars
Lebanon-Kuwait, Economics, 5/28/1999
The Kuwaiti Fund for Arab Economic and Social Development decided to offer a loan to Lebanon worth $200 million through three years with reduced interest to finance a series of projects aimed at upgrading the basic structure of roads and water in Lebanon.
A press statement released by the fund's bureau in Cairo said the final details of the loan will be drafted during the visit to be paid by the fund's general manager, Badr El-Hemisi, to Lebanon this summer.
Kuwait is considered the second-largest Arab donor states to Lebanon after Saudi Arabia. It presented a loan to Lebanon at the end of 1998 worth $40 million, which increased the volume of loans presented by Kuwait to Beirut to $331.5 million since the end of the Gulf War in 1991.
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