Home News KFAED inks deal with Somalia about debt-burdened countries

KFAED inks deal with Somalia about debt-burdened countries

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KFAED inks deal with Somalia about debt-burdened countries

In order to reduce the burden of debt on debt-burdened countries, the Kuwait Fund for Arab Economic Development (KFAED) signed a deal with the Federal Republic of Somalia on Tuesday. A statement from KFAED explains that the deal came after Somalia’s right to withdraw had been revoked in 1989.

KFAED inks deal with Somalia about debt-burdened countriesIn order to schedule all debt payments, the fund coordinated with the federal government. On behalf of the fund, the general director Marwan Al-Ghanim signed the agreement, while on behalf of the Somali Republic, Dr. Abdullah Oduwa signed on behalf of the ambassador.

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