A Kuwait-based fund said Sunday it has inked a loan agreement worth 4.4 million Kuwaiti dinars (around 15.4 million U.S. dollars) with Cuba to finance a drinking water project in the Caribbean country.
The loan would support the rehabilitation of the drinking water system in the eastern city of Holguin, the Kuwait Fund for Arab Economic
Development (KFAED) said in a press release.
The rehabilitation of water purification and pumping plants, water networks and the installation of measuring devices would also be part of the four-year project.
This is the second batch offered to Cuba by KFAED, after a pervious loan of 3.1 million dinars (10.85 million dollars) for the similar purpose,
the official KUNA news agency reported.
Founded in 1961, KFAED is a government agency of the oil-rich Gulf Arab emirate dedicated to financial and technical assistance to Arabian and other developing countries.