Interest in funding power

KFAED offers $46 million-loan for two sanitation networks in the South

The Kuwaiti Fund for Arab Economic Development (KFAED) has signed a loan agreement for financing the construction of two sanitary networks in the South.

KFAED’s General Director, Abdul Wahab El Badr, said that the fund is willing to finance future development projects, mainly those in the electricity sector.

The loan amount is $46 million with a repayment period of 20 years, at an interest rate of 2.5 percent and a five-year grace period.

The loan will finance around 80 percent of the project. The project will see the construction of a sanitation network between the three southern towns, Marjayoun, Khyam, and Shakra. The project involves building a 140 kilometer-long sanitation network between Marjayoun and Khyam, and five drainage stations, as well a wastewater treatment station that could process 5200 cubic meters of wastewater per day. The network will service seven villages in South Lebanon.

The project also includes the construction of 110 kilometer-long sanitation network in Shakra and a wastewater treatment station for treating up to 4500 cubic meters per day. This network will service six villages.

Reported by Hanadi Chami