Kuwait lends US$ 20 mn for post tsunami reconstruction

The Kuwait Fund will lend US$ 20 mn to Sri Lanka to strengthen tertiary education and build administrative infrastructure in tsunami affected areas. The Kuwait Fund will lend US$ 20 mn to Sri Lanka to strengthen tertiary education and build administrative infrastructure in tsunami affected areas. The money will fund construction of educational facilities, student housing and field equipment and vehicles for regional administrative offices.

The loan carries a 0.5 percent annual interest rate, payable over 25 years after a five year grace period.