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KFAEDKuwait Fund for Arab Economic Development
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It includes building a supply and treatment system on the Michio river, 30 km south of the town in Tigray region, KFAED added.
Egypt and KFAED have had long and strong ties since 1964, with Egypt receiving a total of 40 loans in financial aid from KFAED.
Also, the international cooperation ministry has signed a KWD 30m loan agreement in April with the KFAED to fund the upgrade of the Assiut power plant.
Under the first agreement, the KFAED grants $52 million to finance the 4th phase of public works project aiming to enhance efforts to combat poverty and unemployment and improve standards of living through carrying out labor-intensive projects and small enterprises and creating job opportunities in fields of basic services and agriculture.
Four similar grant agreements were signed with KFAED last April, with a total value of $ 1,301 billion.
KFAED has granted Lebanon 20 loans signs 1966, worth of total of $612m, for the implementation of projects across sectors including health, agriculture, transport and communications.
The KFAED has also supported other regional utilities projects in recent months - including an $85 million loan to finance upgrade works in Lebanon and a $250 million contribution to help support a massive upgrade of Bahrain's electricity network over a three year period.
The KFAED director and his accompanying delegation briefed Jumblatt on projects currently being implemented by the fund in Lebanon, especially in the Mountain area.
KFAED had extended to Morocco an overall 34 loans worth an overall KD 344.
Now with over 707 loans made for projects completed or still under implementation in over 101 countries across five continents, KFAED has grown and extended its activities well beyond its initial mandate.
During a visit to Kuwait in May by Lebanese PM Hoss, KFAED announced a US$200m, 3-year pledge to finance development projects in Lebanon.
KFAED said in a press statement that the loan will help support and develop the health sector in Benin, especially in Tchaourou district by providing the necessary infrastructure as well as medical equipment and services.