Korean firm allocates $9.2 billion to Kuwaiti education fund
Kuwait’s Finance Ministry recently signed a contract with Korea’s Doosan Heavy Industries and Construction to contribute $9.2 million to a new fund for the Ministry of Education, reported the official Kuna news agency. The $10-15 million fund will finance an Internet database that will accommodate the needs of students, parents and education personnel.
This is the first project with the offset program strategy that allows foreign parties to carry out projects of economic priority, Kuna said. The Ministry is presently considering accepting financing for Japan’s Itushu company for an Islamic leasing firm, making it the only non-Islamic investor in the project. — (menareport.com)
© 2002 Mena Report (www.menareport.com)