The Kuwait Fund for Arab Economic Development (KFAED) granted a $1.5 million loan to the government of Bosnia to help finance a water refinery plant in Sarajevo. KFAED is expected to help finance similar plants in other regions of Bosnia-Herzegovina, reported KUNA.
KFAED was established in 1961 as the State of Kuwait’s agency for the provision and administration of financial and technical assistance to developing countries. The operations of the Fund were originally confined to Arab countries. In 1974 the scope of the Fund's activity was extended to the rest of the developing world, and its capital was increased from 200 million Kuwaiti dinars to one billion dinars ($3.25 billion). — (menareport.com)
© 2002 Mena Report (www.menareport.com)
