KFAED grants 6m dinars loan to support education project in Tajikistan
The Kuwait Fund for Arab Economic Development (KFAED) has signed a loan agreement worth 6 million dinars with the Government of Tajikistan to help finance a major school development project aimed at improving educational services in the Central Asian nation.
The agreement was signed in Vienna on the sidelines of meetings of the heads of the Arab Coordination Group, as part of the Fund’s ongoing efforts to support sustainable development and strengthen education systems in developing countries.
According to KFAED, the project will focus on upgrading educational infrastructure through the construction of new buildings and facilities at 10 existing school sites located in the capital city and the regions of Sughd and Khatlon.
The schools will be equipped with modern furniture, laboratories, educational and technical equipment, sports facilities, and essential infrastructure services, including electricity, heating, water supply, sanitation, and communications.
The total cost of the project is estimated at approximately 7.88 million, with the Kuwait Fund financing around 76 percent of the overall cost, while the Government of Tajikistan will cover the remaining amount. The loan will be repaid over 26 years, including a grace period of five years.
The Fund noted that the latest agreement raises the number of development loans provided to Tajikistan to seven. Previous financing has supported projects in the road, electricity, and irrigation sectors, with a combined value of around KD 30 million.
The agreement was signed by Waleed Al-Bahr, KFAED Acting Director General, and Faiziddin Qahharzoda, Minister of Finance of Tajikistan.
In a separate development, the Kuwait Fund also signed a KD 3.9 million loan agreement with the Government of Grenada to support the construction and equipping of a new general hospital.
The agreement was signed in Vienna during the fifth OPEC Fund for International Development Forum by Al-Bahr and Grenada’s Minister of Finance, Denise Cornwall.
