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8 million to participate in the financing of the Modoghashe – Wajir Road Project. It is worth kd markets forex that in extending its loans and grants, Kuwait Fund depends exclusively on its own resources.

Billion US Dollars spread over the succeeding five years for financing development projects in the African countries. The Loan Agreement was signed on behalf of the Republic of Kenya by His Excellency Henry Rotich – Cabinet Secretary The National Treasury of the Republic of Kenya, and on behalf of Kuwait Fund for Arab Economic Development by Mr. Al-Omar, Deputy Director-General of the Fund in attendance of Mr. South African Countries at the Fund. The proposed Project aims to participate in supporting the economic and social development of North Eastern Region of the Country, reduce operating costs as well as travel time, and raise the efficiency level of transport, and facilitating of movement and transportation of passengers and goods to neighboring countries. The Project comprises the construction of the Modogashe – Wajir Road to bitumen standard, with a length of about 156 Kilometers, and a width of 7 meters, with a shoulder of 2 meters on each side.

It consists of civil engineering services, site preliminary works, earth works, pavement layers, drainage structures and road safety works, and consultancy services for review of project design and for supervision of construction. Total cost is estimated about Shk13, 664 million, equivalent to about KD 39. 041million of which about KD 28. The Loan matures over a period of 25 years including 5 years grace period, and will be amortized in 40 semi-annual installments, the first of which will be due on 1st date on which any interest or other charge on the Loan shall fall due after the elapse of the above-mentioned grace period.

The Loan bears an interest rate at 1. The signing of this Loan brings to 6 the number of loans accorded by Kuwait Fund to the Republic of Kenya, where the Fund previously provided 5 loans totaling about 24. Kuwait Fund For Arab Economic Development published this content on 16 May 2018 and is solely responsible for the information contained herein. Oil falls on rising output, escalating China-U. China says will ‘fight back firmly’ if U. PETROLEO BRASILEIRO SA PETROBRAS : PETROLEO BRASILEIRO PETROBRAS : Reduction of Significant Shareholding Inter.