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KFAED offers Argentina loan

KUWAIT CITY, March 26, (KUNA): Kuwait Fund for Arab Economic Development (KFAED) signed on Wednesday a loan agreement with Argentina by which the former would give the latter a USD 51 million loan to finance the construction of the Reconquista aqueduct in the central Santa Fe province in the South American country.

The aqueduct project will provide Reconquista residents of at least six villages and surrounding residential complexes with high quality fresh water, said a press statement by KFAED, noting that the loan agreement was signed in the capital city of Buenos Aires. The loan money will primarily go toward equipping the project with infrastructure work. With this loan KFAED will have given Argentina a total of two loans worth altogether USD 85 million to finance water and road projects.

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