KFAED supplements Kandadji loan

The Kuwait Fund for Arab Economic Development (KFAED) has agreed an additional KD2.94m ($9.8m) in funding to the government for the 130MW Kandadji project. KFAED said it had previously disbursed a loan of KD5.7m and that the now-consolidated 24-year loan package, bearing an interest rate of 1.5% with administrative charges, represented 2.7% of the total project cost of around $1bn. In addition to power generation, the project aims to regulate the flow of the Niger River during the dry season to enable downstream irrigation.