Sunday, 28 November 2021 11:21 GMT

Kuwait, Vietnam secure USD13.6m loan agreement


(MENAFN) Kuwait was confirmed to have signed an USD13.6 million loan deal with Vietnam in order to fund the Multipurpose Development Project for Ethnic Minorities in Poor Commune.

Deputy Director General of Kuwait Fund for Arab Economic Development (KFAED) Hesham Al-Waqayan has signed the deal with Vietnamese Vice Minister of Finance Tran Xuan Ha, KFAED confirmed during a press release.

KFAED unveiled the objective behind the agreement was to boost economy in Xin Man District in Ha Giang province along with improving its social growth.

This goal was explained to be reached through building and developing vital infrastructure so as to enhance the situation of traffic and using water resources efficiently, and through renovating domestic economy and help reduce poverty.

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