Kuwait Fund for Economic Development: 21% of Loans Dedicated to Agriculture
Kuwait
Kuwait - QNA
Kuwait Fund for Arab Economic Development (KFAED) announced that 21% of its total loans were used to develop 197 agricultural projects worth KD 969 million until end of 2015.
The fund focused on agricultural projects due to their high economic and social outcome, said KFAED in a study published by Kuwait News Agency (KUNA) on Wednesday, adding that 40% of these projects are executed in Arab countries.
The projects aimed to boost living standards for citizens of rural areas, provide sufficient amount of food and reduce the rate of immigration to cities.
KFAED is also working to resolving issues preventing the development of agriculture in these areas, including weak infrastructure and low budget, the study added.
The fund includes 22 countries with seven being Arab states, said KFAED, adding that it also provides loans to support small farmers.
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