KUWAIT SIGNS KD20M LOAN AGREEMENT WITH SUDAN FOR RURAL WATER PROJECT
KHARTOUM (SUDAN), Nov 30 (NNN-KUNA) — The Kuwait Fund for Arab Economic Development (KFAED) signed Sunday a KD 20 million (USD 68 million) loan agreement with Sudan to contribute to a water project that serves the Sudanese countryside.
The agreement was signed by State Minister of Finance and National Economy Magdy Hassan Yassin for the Sudanese side, and KFAED’s Deputy Director-General Hamad Al-Omar for the Kuwaiti side, in presence of the Kuwaiti Ambassador to Sudan Talal Al-Hajri and KFAED’s e Regional Director for the Middle East and East Africa Abdulrahman Alآ Hashim.
The agreement reflects the KFAED’s integrated role alongside Sudan’s national efforts in providing clean water, Yassin stated to the press following the signing ceremony, adding that the project would also help in establishing and boosting peace and stability in his country.
The Sudanese Minister also commended KFAED’s significant role and contribution to supporting developmental projects in his country throughout a 54-year march of joint cooperation, noting that the Kuwaiti contribution has been very influential, particularly in important strategic projects.
For his part, Al-Omar said that the Kuwaiti Fund has provided several loans to Sudan in fields of infrastructure, irrigation, industry, roads, electricity, dams, and agriculture, expressing his hope that this new agreement contributes to serving the Sudanese people and providing good pure drinking water for them. — NNN-KUNA