KFAED signs KD 10 million loan agreement with Lanka

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KUWAIT CITY, March 24: A Loan Agreement was signed today in Colombo between the Government of the Democratic Socialist Republic of Sri Lanka and Kuwait Fund for Arab Economic Development whereby the Fund will extend a loan of Kuwaiti Dinars ten million (KD 10,000,000), equivalent to about US$ 34 million, to contribute in financing of building complex for the Faculty of Healthcare Sciences, Eastern University, Sri Lanka Project in Sri Lanka.

The loan agreement was signed on behalf of the Republic of Sri Lanka by His Excellency DR. R H S, Samaratunga, Secretary, Ministry of Finance and on behalf of the Fund by Hesham Al- Waqayan, Deputy Director- General of the Kuwait Fund for Arab Economic Development, in attendance of H.E. Khalaf Bu Dhhair, Ambassador of the State of Kuwait to Sri Lanka and Waleed Al- Bahar, Regional Manager for East South Asian and Pacific Countries of Kuwait Fund.

Enhancing
The project aims at enhancing the socio-economic living standards of the people of Sri Lanka through the construction of new Faculty of Health Care Sciences at Batticaloa City and provision of quality health care services to the community.

The Project includes the construction and equipping of building complex for the Faculty of Health Care Sciences and various services structures thereof, construction of internal feeder roads within the Faculty, supply and installation of furniture and of teaching, research and medical equipment, technical equipment and Internet services. It also includes the consultancy services for services for the preparation of detailed designs, tender documents and for supervision of construction.

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