Syria signs two agreements with Arab fund

Two loan agreements for the general power generating and transforming establishment and the Ministry of Agriculture were signed on Tuesday between Syria and the Arab Fund for Economic and Social Development.

The two loans' total value is estimated at 30 million Kuwaiti dinars, with an annual interest rate estimated at 4.5 percent.

The first loan agreement is for 10 million Kuwaiti dinars and will be used to finance the establishment of a control center to operate generating stations and the electric transformation network.

The second loan agreement is worth 20 million Kuwaiti dinars, and is aimed at increasing livestock production, improving the living conditions of cattle breeders in the Syrian semi-desert.

The two agreements were signed by Syrian minister of state for planning Dr. Abdul Rahim al-Sbei and the director general of the Arab Fund for Economic and Social development Abdul Latif al-Hamad.