20Nov 2018
Tuesday

Kuwait fund signs an amended accord for granting Yemen $40m

Updated : Friday, 09 November 2018, 05:30:14 PM
Al-Hajraf discusses reconstruction with Yemeni minister
Editorial Staff
By Editorial Staff
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KUWAIT CITY(IAMINKUWAIT):  Kuwait Fund for Arab Economic Development (KFAED) on Thursday signed an amended agreement for using a KD 12 million ($40 million) grant with Yemen to contribute to funding Ma’reb power plant.

KFAED said in a statement that the project aims at elevating capacity and preparedness of the power units at the station and increasing units’ capacity to cope with local demand.

The modifi cation decision came in line with the cabinet resolution 5/2013 (January 28, 2013).

KFAED was established as a Kuwaiti fund on December 31, 1961, for providing fi nancial and technological aid to Arab and developing states, as a back up for Kuwait’s foreign policy – with aim of bolstering the state global status.

Meanwhile, Minister of Finance Dr Nayef Al-Hajraf held talks on Thursday with the visiting Yemeni Minister of Planning and International Cooperation Mohammed al-Sa’adi on bilateral economic relations and current economic conditions in his nation.

The Ministry of Finance said in a statement that the two sides discussed Yemen’s efforts to execute development projects and reconstruct damaged regions.

They also examined donations by states, establishments and funds, namely Kuwait Fund for Arab Economic Development and the Arab Fund for Economic and Social Development, to development schemes in Yemen.

 

Dean of the College of Engineering and Petroleum at Kuwait University Professor Abdullatif Al-Khulaifi received a delegation from the Turkish company LIMAC for Investments.

The delegation was headed by Board Chairman of LIMAC Ebru Osdemir.

Al-Khulaifi thanked the delegation for giving students at the college a chance to undergo training in the company’s project in Kuwait International Airport, in addition to appointing a number of graduates at LIMAC Construction Company.

Courtesy  :  Arab Times

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CommodityUnitPrice(KWD)Price(USD)Price(INR)Change%
Gold1 Tolas 139.31458.2132932.19 0.26%
Gold1 Ounce 371.51221.9287820.74 0.26%
Gold 18K1 Gram 8.9629.472118.1 0.34%
Gold 21K1 Gram 10.4534.372470.33 0.29%
Gold 22K1 Gram 10.9536.022588.53 0.27%
Gold 24K1 Gram 11.9539.312824.92 0.34%
Silver1 Gram 0.140.4633.1 0%
Silver1 Kilogram 140.66462.6533251.32 0.14%
Silver1 Ounce 4.3714.371033.05 0%