Kuwait to extend $60m loan for Bahrain port

MANAMA — Kuwait’s foreign minister arrived in Manama yesterday on a two-day visit during which he will sign a deal extending a 60-million-dollar loan to help build a port in Bahrain, official media reported.

By (AFP)

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Published: Thu 11 Aug 2005, 10:50 AM

Last updated: Thu 2 Apr 2015, 4:14 PM

Bahrain’s BNA news agency and Kuwait’s KUNA news agency said Shaikh Mohammad Al Sabah would sign the loan agreement with Bahraini officials in his capacity as board chairman of the Kuwait Fund for Arab Economic Development (KFAED).

The 17.5 million Kuwaiti dinars (around 60 million dollars) loan will be designed to finance infrastructure work at the Khalifa bin Salman Port being built on Al-Muharraq, the second largest island in the Gulf archipelago, the news agencies said.

KFAED, established in 1961, is a Kuwaiti government agency, which provides financial and technical assistance to developing countries.

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