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Kuwait Fund for Arab Economic Development (KFAED) is reviewing the possibility of funding a project to restructure and develop the Egyptian railroad system.


KFAED loans to Egypt amount to US$1.2bn for the sectors of agriculture, electricity and facilities.


Egypt is the fund’s greatest beneficiary. Egypt’s first loan was US$32mn in 1964 for a project in the Suez Canal. A KAFED report shows that the volume of loans that it has granted since its establishment in 1961 till the end of March 2005 reached 675, totalling KD3.5bn.


The fund’s annual report states that the number of beneficiaries are 101 countries, 16 of which are Arab, 40 African, 34 Asian, and 11 South American and Caribbean.