Kuwait Gives $70 Million Loans to Five African Nations 

(MENAFN - Qatar News Agency) Five African countries have received loans worth a total of around USD 67-70 million from the Kuwait Fund for Arab Economic Development, its Director General Abdulwahab Al-Bader said on Sunday.

"We (KFAED) have taken the opportunity to sign agreements with five nations while the Amir of Kuwait (Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah) is in the country (Ethiopia) to attend the 19th African Union Assembly as guest of honour. These countries are Uganda, Ethiopia, Lesotho, Senegal, and Kenya," he told Kuwait news agency (KUNA) in an interview.

"These agreements relate to development projects the fund agreed upon with these countries earlier, which would be signed today," he said during the signing ceremonies at Africa Hall, the headquarters of the African Union.

The loans fund varied projects, namely for building roads, schools, and a dam, where Lesotho is concerned, Al-Bader said.

After signing the agreements, President of Senegal Macky Sall told KUNA that the loan was for building a key road in Dakar worth USD 17.5 million.

For his part, the Prime Minister of Lesotho Tom Thabane said that his country seeks to develop its water resources, adding that KFAED will support building a dam, worth millions of dollars, in the African country