The Kuwaiti Arab Economic Development Fund has made a $350 million donation to Syria, to finance a major water project as well as other economic development projects, reported the official Al-Baath. Other projects involve employment programs, electricity and transportation projects.
Syrian sources revealed that Kuwait will pay for a feasibility study on the two billion dollar pipeline project aiming to supply much needed water to Damascus from the Syrian coast. The donation followed a Kuwaiti technical delegation visit to Damascus in mid-Auguat, to discuss the projects to which Syria was seeking financing, according to Al-Rai Al-Aam daily.
Since the first loan agreement was signed between the Kuwait Fund and Syria in 1969, the Fund has provided a total of $1.036 billion in loans to various local development projects, most of it since the 1991 Gulf war. — (Mena Report)
© 2001 Mena Report (www.menareport.com)
