KFAED offers KD 25 mln to Iraq reconstruction fund

KUWAIT, Kuwait Fund for Arab Economic Development (KFAED) on Monday signed a grant deal worth KD 25 million (USD 85 million) with the Reconstruction Fund for Areas Affected by Terroristic Operations (REFAATO).

The grant is part of a USD-100-million pledge announced by Kuwait during an Iraq donors conference in Washington, the KFAED said in a statement.

In January 2018, the KFAED signed an urgent financing deal valued at KD 4.5 million (USD 15 million) to support health projects in several Iraqi provinces, according to the statement.

It underlined the significance of these projects to upgrading the level of health services in affected areas as a prelude to a home-return of refugees.

The REFAATO would undertake overseeing the execution of all these health projects in Iraq, it noted.

Source: Kuwait News Agency