(MENAFN) Kuwait Fund for Arab Economic Development (KFAED) has signed a loan agreement in the city of Vientiane with the Democratic Republic of Lao, whereby the Kuwait Fund will offer the government of Lao a USD23.8 million loan to finance the expansion and upgrading of Nabong-Khoksa irrigation project, KUNA reported.
The KFAED said that the agreement was signed on behalf of the Lao Peoples Democratic Republic by Deputy Minister of Finance, and the Deputy Director-General of KFAED.
The project aims at supporting the economic and social development of 11 villages in Pak Ngum District, through the rehabilitation, improvement and expansion of the existing Nabong Khoksa pumping irrigation system, to convey water from Nam Ngum River intake to cover about 4,130 ha. of irrigable lands.
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