Sunday, March 26, 2006

Kuwait and the DRC D R CONGO : Kuwait donates US$15 million ::: 25/03/2006

"The board of directors of the Kuwaiti development fund has approved $15 million loan for the Democratic Republic of Congo to rehabilitate Liberation Avenue linking eastern and western Kinshasa.

The Congolese Works and Infrastructure ministry affirmed the loan here Thursday, saying the avenue has become impassable since the last rainy season and may be cut.

The loan agreement, which had been under negotiation since 2005, was not immediately approved because the DR Congo had to pay debt arrears to the Kuwaiti Fund."
I like how the title of the article says "donates", and the body says loan. Liberation Avenue is one of three spines of the Kinshasa road network, so anyone willing to repair it, I am for. It is actually a priority, so I don't mind borrowing for that, as long as the money is actually used for the designed purpose. Wait and see...

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