KFAED backs Bahraini road expansion: The Kuwait Fund for Arab Economic Development (KFAED) has inked a KWD 10 mn (c. USD 32.4 mn) loan agreement with the Bahraini government to finance the second phase of Manama’s Sheikh Jaber Al Ahmad Al Sabah Avenue, KUNA reports. The 20-year loan covers a fraction of the project’s total cost — estimated at roughly KWD 152 mn (C. USD 404 mn) — and is priced at a 3% interest rate with an eight-year grace period at 24 semi-annual installments.

Where’s the money going? The funds will contribute to expanding the avenue — which connects Manama to the neighboring Southern Governorate — from three to four lanes over 11 km, as well as constructing five bridges at different intersections. The project will also widen the adjoining Salman Al Fatih Street, increasing the number of lanes to four with a length of about 2 km.

The impact: The expansion will serve commercial, residential, and industrial areas as well as cut emissions by reducing congestion.

KFAED’s latest in the region: KFAED signed off on a KWD 10 mn (c. USD 32 mn) loan to refurbish and upgrade a railway for transporting phosphate in Tunisia last November. The project is forecasted to be completed in 1H 2028.

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