Kuwait has awarded China a 9.5 million Kuwaiti dinar ($31 million) loan, according to Al-Ittihad daily. The loan, provided by the Kuwaiti Fund for Arab Economic Development, will finance 35 percent of the costs of a new Panzhihua Airport in the Sichuan Province in southwestern China. The loan is to be repaid within 20-years time.
Attending the loan’s signing ceremony were Chinese Vice-Finance Minister Jin Liqun and Kuwaiti Ambassador to China Abdul-Muhsen Nasir A. Geaan. Airport facilities to be constructed consist of terminals, a runway, passenger service centers and other related facilities. The project’s construction began last June, with the project’s anticipated completion date set at the end of 2003. — (Mena Report)
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