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FinancialNews
12-04-18
Kuwait loans Pakistan USD15m for hydroelectric project
(MENAFN) Kuwait and Pakistan were declared to have signed a loan deal at a value of USD15 million for the Pakistani hydroelectric project to be funded.
The objective behind the project is to satisfy demands of electric power in the Pakistani Khyber-Pakhtunkhwa Province through establishing hydroelectric power, as explained in a statement issued by the Kuwait Fund for Arab Economic Development (KFAED).
The hydroelectric project, launched at the end of 2008, is taking place on Golen Gol River, which is a tributary of Mastuj River of Pakistan, and is set to be concluded by the end of 2018.
KUNA further noted that the KFAED had so far granted 17 loans worth around USD417 billion for various Pakistani projects to be funded, with the latest deal making it the 18th loan agreement.
MENAFN1204201800450000ID1096724791
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