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Banking / Investment in kuwait

  • Axum Water Supply Project in the Federal Democratic Republic of Ethiopia

    KUWAIT, 2015/06/25 A Loan Agreement between Kuwait Fund for Arab Economic Development and The Federal Democratic Republic of Ethiopia has been signed today in Addis Ababa whereby Kuwait Fund extends a Loan in an all of K.D 6.5 million equivalent to about US$ 22.1 million to participate in the financing of the Axum Water Supply. A Project Agreement relating to the said Loan was as well signed between the Kuwait Fund and the Axum Water Supply and Sewerage Utility. The Loan and Project Agreements were signed by H.E. Mr. Ahmad Shidi, Minister of Finance, on behalf of the Federal Democratic Republic of Ethiopia and Mr. Hamad S. Al-Omar, Deputy Director-General of Kuwait Fund for Arab Economic Development, signed both the Loan and the Project Agreements on behalf of Kuwait Fund, in attendance of His Excellency Mr. Rashid Al-Hajri, Ambassador of the National of Kuwait to Ethiopia and Mr. Abdulrahman Al-Hashim, Regional Manager for Central, East and South African Nations.

  • Kuwait's Emir Sheikh Sabah al-Ahmad Al-Sabah

    KUWAIT, 2013/11/30 Kuwait's Emir Sheikh Sabah al-Ahmad Al-Sabah opened the third Africa-Arab summit Tuesday with a pledge to provide $1 billion in low-interest loans to African nations over a five-year period. Arab and African leaders gathered for the two-day summit in Kuwait City are to review steps to promote economic ties between wealthy Gulf states and investment -thirsty Africa. "I ordered officials of the Kuwait Fund for Arab Economic Development to provide soft loans worth $1 billion to Africa over the next five years," Sheikh Sabah announced. Thirty-four heads of national, seven vice presidents and three heads of government are attending the third Africa-Arab summit, which brings together 71 nations and organisations. The conference is the initial of its kind since 2010, at the same time as leaders met in Libya prior to the Arab Spring uprisings that toppled longstanding dictatorships in North Africa and the Middle East.

  • Kuwait grants Bahrain $1.3 billion to finance development projects

    BAHRAIN, 2013/04/15  Kuwait said on Wednesday it will finance projects worth $1.3 billion (992 million euros) in its Gulf partner Bahrain as part of pledges made two years ago, an official statement said. The funds will be used to finance part of four development projects over the next few years, inclunding power transmission networks, housing projects and a key road, the national-owned Kuwait Fund for Arab Economic Development said.
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