Syria signs agreement with Arab fund

A loan agreement was signed on Monday between Syria and the Arab Fund for Economic and Social Development.

According to the agreement a 30 million Kuwaiti dinar loan will finance a communication development project in Syria. The project is aimed at providing telephone services by adding about 1.65 million lines to the telephone network.

The Arab fund's contribution to financing development projects in the country has amounted to 474.47 million Kuwaiti dinars.

Earlier in the day, Syrian Prime Minister Mahmoud al-Zou'bi met with the general director of the Arab Fund for Economic and Social Development, Abul Latif al-Hamad. Syrian Minister of State for Planning Abdul Rahim al-Sbei attended the meeting.

Talks dealt with the projects being carried out in collaboration between Syria and the Arab Fund for Economic and Social Development and the projects proposed to be carried out in cooperation with the fund.

Talks also dealt with the activities of the fund in Syria through the projects financed by the fund and the possibility of financing more new projects in Syria in the fields of irrigation and the industry.

Al-Hamad expressed his satisfaction concerning the implementation of current projects and agreed to contribute to financing the new ones.