By Mubarak Al-Hajiri (with photos) BEIRUT, March 29 (KUNA) -- Kuwait Fund for Arab Economic Development (KFAED) signed here Thursday a USD-46-million-loan agreement with the Lebanese government to finance a sewage project in southern Lebanon.

Following the signing ceremony, Director-General of KFAED in Lebanon Abdulwahab Al-Bader estimated the total cost of the project at USD 68 million to which KFAED contributes 65 percent and Lebanese government 45 percent.

Al-Bader pointed out that the project is meant to protect environment and public health in the area and to start operation after four years.

He added that the KFAED is eager to support development projects which serve Lebanese people.

The signing ceremony was also attended by Lebanese Prime Minister Najib Mikati, Minister of Finance Mohammad Safadi, Minister of Energy Gebran Bassil, President of the Lebanese Council for Development and Reconstruction Nabil Jisr, KFEAD Regional Director of Arab Countries Marwan Al-Ghanim, Kuwaiti Embassy Charge d'Affaires Jassim Al-Jajim and KFAED Permanent Envoy to Lebanon Nawaf Al-Dabbous.

Since 1966, the KFAED has granted Lebanon 19 loans totaling about USD 568 million to finance health, agricultural, transportation sectors and to rebuild districts destroyed by the Israeli war machine.

The KFAED also oversees the use of grants provided by the State of Kuwait to Lebanon, the latest of which a USD 300-million grant to rebuild south Lebanon and compensate victims of 2006 war.