KAFED funds road project in Djibouti named after Kuwait Amir

KUWAIT, Kuwait Fund for Arab Economic Development (KFAED) declared on Wednesday funding construction of Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah Road (called after His Highness the Amir name) in Djibouti.

KFAED said in a press release the key road is necessary for educational and health sectors for populations of a number of towns and villages.

The Kuwaiti fund is financing the project with USD 156 million, the statement said, explaining that it would facilitate transport of raw materials.

It quoted Marwan Al-Ghanim, the fund deputy director general, as expressing at the inauguration ceremony his pleasure for launching this venture; named after His Highness the Amir.

KAFED has lent the African nation a total of USD 293 million.

Source: Kuwait News Agency