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Kuwait grants Mauritania USD21m loan
(MENAFN) The Kuwait Fund for Arab Economic Development (KFAED) will fund Mauritania with a total of USD 21 million, based on recent reports.
Accordingly, the loan will be mainly directed at financing of the Deposit and Development Fund Operations Project in the poor African nation.
Basically, the credit will be for 27 years, including a grace period of 5 years, and will be repaid in 44 semi-annual installments, with a yearly interest rate of 1.5pct.
KFAED didn't stop here; it has also managed 4 grants delivered by the State of Kuwait to Mauritania, amounting to a total of nearly USD 13.8 million.
Accordingly, the loan will be mainly directed at financing of the Deposit and Development Fund Operations Project in the poor African nation.
Basically, the credit will be for 27 years, including a grace period of 5 years, and will be repaid in 44 semi-annual installments, with a yearly interest rate of 1.5pct.
KFAED didn't stop here; it has also managed 4 grants delivered by the State of Kuwait to Mauritania, amounting to a total of nearly USD 13.8 million.
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