Kuwait- KFAED, Lebanon sign USD 30mln grant agreement
Date
1/12/2016 8:50:35 AM
(MENAFN- Kuwait News Agency (KUNA)) BEIRUT Jan 12 (KUNA) -- The Kuwait Fund for Arab Economic Development (KFAED) and Lebanon have signed a USD 30 million grant agreement to improve public services in Lebanese communities hosting Syrian refugees.The grant agreement was signed by KFAED Director General Abdulwahab Al-Bader and Chairman of the Lebanese Construction and Development Council Nabil Al-Jiser.Al-Bader told KUNA on Tuesday that the grant is part of a USD 500 million commitment that Kuwait pledged during the third Syrians donors' conference that was held in Kuwait.The KFAED paid USD 100 million of that pledge Al-Bader pointed out.He expressed hope that this grant would help the Lebanese Government in improving the living conditions of Syrian refugees.On his part Al-Jiser expressed his appreciation to Kuwait's support to Lebanon in easing off some of the responsibility it has shouldered as a host country for Syrian refugees.He added that Kuwait offered Lebanon USD 450 million grants to overcome current crises - half the amount of easy loans that were given to development projects. (end) mah.nfm
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