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KUWAIT,LEBANON : LEBANON gets US$37 mln for water project from KUWAIT
Publish Date : 21-Jan-2012
On Wednesday, the Kuwait Fund for Arab Economic Development (KFAED) has entered into an agreement with Lebanon for the execution of a water desalination project in the western Beqaa region. The deal is worth around US$ 37 million.
In 2006, Kuwait had made a donation of US$-300-million, and this project forms part of the same. It aims at providing drinking water to over 50 villages which are affected with a shortage in the Beqaa region, stated KFAED\'s Director General Abdulwahab Al-Bader.
He added, “Contributions made by Kuwait, under the directions of HH the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, have aided social and economic development in Lebanon and reflect the sense of devotion Kuwaitis have for the Lebanese people.”
For an irrigation projection fed by the waters of Lebanon\'s Litani River, KFAED signed a loan valued at US$ 72 million.
Kuwait has given 17 loans to Lebanon starting from 1966 worth around US$ 500 million.
