Kuwait Fund for Arab Economic Development (KFAED) signed an agreement with the government of Grenada under which the fund will offer a loan amounting to four million KD (nearly 13.6 million dollars).

    The document was signed by Grenadian Prime Minister Keith Mitchell and KFAED Deputy Director-General Ghanim Al Ghaniman.

    The funding will be used in financing the third stage of a road-building project in the rural communities in the Caribbean island country, according to a statement by the Fund.

    The project is to promote the socio-economic development in Grenada in through the improvement of the road network in the rural areas and facilitating the exportation of farm products, Kuwait News Agency (KUNA) reported.

    It aims to rehabilitate 12 roads and bridges in six provinces, and improve the sewage system in the rural areas by the end of 2019