(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Dec 21 (KUNA) - The Kuwait Fund for Arab Economic Development (KFAED) has signed a loan agreement with China to offer KD 9 million (USD 30.6 million) to finance the second phase of the Wuzhong People's Hospital.
The project aims to help provide the rising basic medical services of the inhabitants in Wan Zhuang and the neighboring towns, in addition to supporting social development in the Ningxia region, the KFAED said in a statement on Thursday.
It comprises of five buildings - among which one for logistical services - with 498 bed capacity. The project also includes providing medical supplies, furnishing and consultancy services.
Previously, the fund offered China 37 loans worth KD 280 million (about USD 951.9 million) for projects in a variety of sectors.
KFAED's Deputy Director General Hisham Al-Waqayan signed today's loan agreement with Deputy Director General of the Ministry of finance Wang Zhang Jing.
Kuwait's Ambassador to China Sameeh Hayat and KFAED's Regional Manager for East South Asia &Pacific Countries attended the ceremony. (end) skm.ht.msa
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