Kuwait Fund loan for coastal infrastructure development

The Ministry of Finance and the Kuwait Fund for Arab Economic Development (KFED) signed a loan agreement on December 19 to develop infrastructure in coastal areas in Thai Thuy district of the northern province of Thai Binh.

Tuesday, December 19, 2017 16:27

Kuwait Fund loan for coastal infrastructure development ảnh 1

At the signing ceremony (Photo VNA)

Hanoi (VNA) – The Ministry of Finance and the Kuwait Fund for ArabEconomic Development (KFED) signed a loan agreement on December 19 to developinfrastructure in coastal areas in Thai Thuy district of the northern provinceof Thai Binh.

Deputy Minister of Finance Tran Xuan Ha said theover 9-million-USD loan is significant to Thai Binh – one of the localities inVietnam bearing the most brunt of climate change.

The project is expected to help the province increase business production, headded.

Vietnam pledged to direct relevant ministriesand management agencies to make the most efficient use of the loan, heaffirmed.

Deputy Director General at KFED Hisham Al-Waqayan said the KuwaitFund is willing to sponsor development projects in Vietnam.

The two sides are discussing to sign other projects in the coming time,including one in the northern mountainous province of Ha Giang, which aims toimprove local living standards.

To date, Kuwait Fund has supported loans for Vietnam to carry out 14 projectsworth nearly 169 million USD, focusing on improving rural infrastructure forpoor provinces such as roads and irrigation networks.-VNA

VNA

#Ministry of Finance #Kuwait Fund for Arab Economic Development (KFED) #loan agreement #develop infrastructure in coastal areas

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