KFAED offers KD 9 mln loan to fund expansion of medical facility in China
Director General of Kuwait Fund for Arab Economic Development (KFAED) Dr. Abdelwahab Al-Bader said here Wednesday that the fund would loan around KD nine million to help expand a medical facility in China.
Speaking to KUNA, Al-Bader said that the Chinese government and the fund inked the deal yesterday to help provide funding to a medical university in Hainan province.
The total cost of the expansion project is set at Yuan 504 million, (around KD 24.2 million), said Al-Bader, indicating that KFAED will cover around 37 percent of the cost.
He indicated that the loan would be paid off within a period of 24 years.
Source : KUNA Kuwait News agency