Kuwait lends Djibouti KD 23 mln for Sabah Al-Ahmad road

KUWAIT, Nov 14 (KUNA) — Kuwait signed KD 23 million (USD 78.2 million) loan agreement with Djibouti, to finance the Tadjoura-Balho road project, known as Sheikh Sabah Al-Ahmad Road, Kuwait Fund for Arab Economic Development (KFAED) announced Monday.
The project aims mainly at boosting economic and social development in Djibouti’s northern region and areas, KFAED said in a press statement.
It will contribute to enhancing communication among the capital’s areas, as well as economic activity centers, education and health services, it added.
The project also aims at facing the increased demand for transportation between Djibouti and the northern areas of neighboring Ethiopia, which would refresh the two-way trade in that region, the statement said.
KFAED also noted that the project includes highway engineering works to construct an asphalt-paved road of 112 km long and nine meters wide.
The project has been equipped.....See More