Kuwait (UNA-OIC) – Kuwait Fund for Arab Economic Development (KFAED) signed a KD361,000 (US$1.2 million) grant agreement with Kuwait Red Crescent Society (KRCS) to support Rohingya refugees in Cox’s Bazar region of Bangladesh.
The agreement was signed by Acting KFAED Director-General Ghanim Al-Ghunaiman and KRCS Chairman Dr. Hilal Al-Sayer, Kuwait News Agency (KUNA) reported quoting a KFAED statement on Tuesday.
The Kuwait Fund extends loans on concessionary terms to finance development projects in developing countries. The Fund also provides technical assistance to finance the costs of the feasibility studies of projects, as well as the training of nationals of the borrowing countries.
