Kuwait lends Niger $10m for dam project
Kandadji Dam project in Niger
Sharm al-Sheikh - KUNA
The Kuwait Fund for Arab Economic Development (KFAED) and Niger's government signed here on Saturday a loan agreement worth KD 2.94 million (about USD 10 million) for financing the Kandadji Dam project in Niger. The deal was inked by KFAED Director-General Abdulwahab Ahmad Al-Bader and Niger's Planning Minister Amadou Boubacar Cisse.
The agreement aims at improving the environmental viability of the Niger River by establishing the Kandadji Dam, which is expected to provide water for irrigation and drinking, to achieve agricultural development and food security as well as generate energy.
By signing this deal, the loans provided by KFAED to Niger reached 11 with a total value of KD 25.29 (about USD 86 million), in addition to nine grants worth about KD one million (about USD 3.61 million).
KFAED also provided Niger with technical aid totaling KD 85,000 (about USD 289,000).
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