Wednesday, Nov 04, 2009

BEIRUT (Zawya Dow Jones)--The German Bank for Development and Reconstruction, or KfW, will grant two loans worth a combined value of EUR70.2 million to Syria to finance development projects, Damascus-based Al Baath daily reports Wednesday.

The first loan worth EUR50.2 million will be used to finance a waste water project and the other loan worth EUR20 million will be used to refinance an existing debt that is being invested in various development projects, the paper reports, adding that Syrian and German officials signed the loan agreements Tuesday.

Newspaper Web site: www.albaath.news.sy

-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com

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04-11-09 0443GMT