KFAED Signs KD4 Million Loan Agreement with Madagascar| MENAFN.COM

Monday, 08 August 2022 05:06 GMT

KFAED Signs KD4 Million Loan Agreement with Madagascar

(MENAFN- Qatar News Agency) Kuwait Fund for Arab Economic Development (KFAED) has signed a KD 4-million loan agreement with Madagascar to fund a highway project in Soanierana Ivongo district. The highway will link Analanjirofo region, part of Soanierana Ivongo district, with the capital Antananarivo, which would greatly improve traffic flow, KFAED said Friday in a statement. The three-year project will also ease off freight transport from the region to the chief seaport of Toamasina, state news agency KUNA reported. After this loan, Madagascar will have received six loans from the Fund with a total of KD 14.3 million ($48.6 million).

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