KFAED signs deals worth $57mn on fringe of Africa Forum 2018

SHARM EL SHEIKH, Egypt, Dec 8 (MENA) - The Kuwait Fund for Arab Economic Development (KFAED) will sign three financing agreements that worth $57 million with Madagascar, Malawi and Côte d'Ivoire during the Africa Forum 2018 in Sharm el Sheikh.

In press statements on the sidelines of Africa Forum 2018, regional manager for North African countries at the fund Abdullah Khalil said that an agreement will be signed with Madagascar at a value of $10 million.

He added that a $17-million- agreement will be signed with Malawi.

Another deal worth $30 million will be signed with Côte d'Ivoire, he noted.

He pointed out that the fund seeks engaging in the development projects in the African continent.

Egypt is set to sign two financing deals worth 40 million Kuwaiti dinars with the KFAED on the first day of the forum.