The Kuwait Fund for Arab Economic Development has signed a loan agreement with Oman, providing 10 million Kuwaiti dinars (about $32.7 million) to finance the second phase of internal road construction in the Duqm Special Economic Zone. The loan will cover approximately 68.5% of the project’s total estimated cost of $47.8 million.
In a related move, the Fund also signed a memorandum of understanding with Duqm Refinery and Petrochemical Industries Company to train and qualify Kuwaiti engineers and architects, supporting the development of national talent and aligning skills with labor market needs. The agreements reinforce Kuwait’s commitment to regional infrastructure development and expertise exchange.
