KFAED lends Lebanon USD 640,000 to spruce up infrastructure |
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BEIRUT, Aug 27 (KUNA) -- The Kuwait Fund for Arab Economic Development (KFAED)Kuwait Fund for Arab Economic Development (KFAED)
signed on Wednesday three financial agreements worth USD 640,000 with Lebanon as part of Kuwaiti grants to reconstruct that country.
The first agreement goes toward financing the second stage of constructing a dormitory at the Orphan Care Society in the city of Sidon in Southern Lebanon, at a cost of USD 500,000.
Accomodating 250 orphans when finished, construction of the dormitory is scheduled to start by the end of November.
Set at USD 40,000, the second agreement will be spent on developing an archive to keep documents and store information regarding compensations to be granted to those who were harmed by the recent Israeli war in Lebanon.
The third agreement goes to a project to provide drinking water to the town of Qernail in the Mt.Lebanon region, at a cost of USD 100,000. The project requires the establishment of a water desalination station with a 500 cubic meter of water capacity.
The agreements were signed on behalf of KFAEDKFAED by its Director General Abdulwahab al-Bader and on behalf of Lebanon by President of Reconstruction and Growth Nabil al-Jisir and by Director General of the Public Aid Authority Yahya Raad, in the presence of Prime Minister Fuad al-Siniora.
KFAEDKFAED has lent Lebanon 16 loans with an aggregate total of USD 491 million to go toward reconstructing the country's infrastructure in addition to USD 11 million in technical aid.
© Copyright Kuwait News Agency 2008.
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