kuwait cuba sign kd88mln loan for hydroelectric power plants
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Kuwait, Cuba sign KD-8.8-mln loan for hydroelectric power plants

Arab Today, arab today

Arab Today, arab today Kuwait, Cuba sign KD-8.8-mln loan for hydroelectric power plants

Kuwait, Cuba
Kuwait - WAM

The Kuwait Fund for Arab Economic Development (KFAED) signed on Saturday a loan agreement, worth KD 8.8 million, with Cuba to finance about 34 hydroelectric power plants there.

The project aims to make use of existing water reserve behind dams to generate electricity and provide thermal fuel so as to reduce greenhouse gas emissions, in addition to expand and improve electrical services for the rural areas, said a statement issued by Kuwait's Embassy in Cuba, of which KUNA received a copy.

This contributes to providing social services, achieving rural development, promoting agricultural production and reducing migration to big cities across in the country, the statement added.

The project, which will be fulfilled in seven years, will contribute also to supporting national industry, training institutions and scientific research centers at universities in this sector, it noted.

It includes establishing about 34 plants with a total capacity of 14.6 megawatts, and some distribution plants.

The project's total cost is estimated at about KD 21.8 million, Kuwait's loan will cover about 40 percent of it, the statement pointed out.

The loan will be repaid with 21 years, including a grace period of seven years, in 28 semi-annual installments with an interest rate of three percent.

Kuwait has signed with Cuba five loans so far, including today's, worth KD 22.5 million (USD 76.5 million).

Source :WAM

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

kuwait cuba sign kd88mln loan for hydroelectric power plants kuwait cuba sign kd88mln loan for hydroelectric power plants

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

kuwait cuba sign kd88mln loan for hydroelectric power plants kuwait cuba sign kd88mln loan for hydroelectric power plants

 



GMT 15:36 2017 Monday ,09 January

Major EU-GCC meeting in Riyadh today

GMT 17:19 2016 Thursday ,22 December

KFMC surgeons remove 28 kg tumor from woman’s uterus

GMT 17:33 2017 Wednesday ,16 August

Damac reports decline in property development sales

GMT 09:16 2018 Monday ,01 January

Seoul leaning towards military measures

GMT 01:05 2017 Wednesday ,20 December

No guarantees on French-German initiative on Ukraine

GMT 21:00 2017 Sunday ,17 September

Saif bin Zayed approves adoption of 'Emirati Reader'

GMT 02:10 2017 Thursday ,05 January

Bahrain Stock Index Drops 3.47 Points

GMT 02:05 2017 Thursday ,28 September

July24th-August23rd

GMT 04:17 2017 Saturday ,11 November

Laulala out to prove All Blacks worth against France

GMT 02:42 2017 Friday ,14 July

NATO Tripoli strike kills civilians

GMT 05:47 2017 Wednesday ,18 January

Mohamed bin Zayed attends opening of ADSW 2017
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday