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Kuwait supports Palestinian housing sector with USD 90 mln

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GAZA, Feb 2 (KUNA) -- The Kuwait Fund for Arab Economic Development (KFAED) has supported Palestinian housing projects with USD 90 million, said Mohammad Ashtyeh, member of the Fatah movement's Central Committee.

"USD 45 million will be allocated for housing projects in the occupied city of Jerusalem, USD 25 million for projects in the rest of the West Bank and USD 20 million for housing projects in the Gaza Strip," Ashtyeh, also chairman of the Palestinian branch of the Islamic Development Bank, said in a press statement carried by Palestinian news agency (WAFA) Thursday.

"This money is offered to Palestinians in form of loans through Palestinian commercial banks," he said. He added that the housing sector in Palestine faces many challenges including people's low-income and high prices of residential land.

Ashtyeh hailed Kuwaiti support for Palestinian economy and housing sector.

"This aid will help provide housing for tens of thousands of families and create dozens of housing of job opportunities," he said. (end) mzt.ibi KUNA 022257 Feb 12NNNN

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