Kuwait lends Tanzania USD 13.6 mln| MENAFN.COM

Tuesday, 29 November 2022 04:34 GMT

Kuwait lends Tanzania USD 13.6 mln


(MENAFN- Kuwait News Agency (KUNA)) KUWAIT, Sept 21 (KUNA) -- Kuwait Fund for Arab Economic Development (KFAED) signed Thursday a loan agreement worth KD four million (USD 13.6 million) with Tanzania.

The loan aims to contribute in rehabilitating and expanding Mnazi Mmoja Hospital in Zanzibar Town, KFAED said in a statement.

The project seeks to boost social and economic development in the Zanzibar Archipelago by improving the level of health care system to the public, it added.

KFAED indicated that the loan is part of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah's 2013 initiative to provide soft loans for development schemes in Africa.

KFAED had lent Tanzania a total of KD 75.4 million (USD 256 million).

The lending accord was signed by Tanzanian Finance and Planning Minister Dr. Khalid Mohamed, and KFAED Deputy General Director Hamad Al-Omar. (end) skm.asa.ma

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