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KFAED loans Cameroon USD 10.2 mln

February 14, 2014

| KUWAIT, Feb 13 (KUNA) -- Kuwait Fund for Arab Economic Development (KFAED) and the government of the Republic of Cameroon on Thursday inked a loan agreement under which the Fund will finance the construction and equipping of Ekounou Professional Secondary School Project in the Republic of Cameroon.

The agreement, signed in Yaounde by Cameroonian Minister of Economy, planned and Regional Development Nganu Emmanuel and Fund's Deputy Director-General Hamad S. Al-Omar, stipulates that the Fund will contribute KD three million (about USD 10.2 million) to the project. The project aims to support the social, economic and human development in the Republic of Cameroon by increasing the quality and access with regard to the technical and professional education, mainly in the construction and commerce fields, and addressing technological challenges, through constructing and equipping new professional secondary school in Ekounou city, according to a statement issued by the Fund here.

The project will also contribute to produce professional graduates, so as to provide skilled labor to the construction industry and trade services, as well as achieving the objectives of Cameroon vision prospects for 2030.

The project comprises: (i) constructing and equipping of new buildings and classrooms, workshops, facilities and infrastructure, for a new professional secondary school for a total building area of about 17000 m2, that can accommodate about 3,000 students, and (ii) the supply and installation of educational furniture, training workshop equipment and tools, as well as teacher staff training. The Project also includes consulting services for the detailed design and Project's supervision, the statement added. (end) KUNA 132010 Feb 14NNNN

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Source: Kuwait News Agency

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