will contribute to the completion of the Samra electric generating plant, designed to meet the growing demand for electric power and energy in the Kingdom by raising the plant's capacity from 1170 MW to approximately 1240 MW, by adding a 70 MW steam-generating unit that operates on heat from the gas-generation unit.
Abdullah Al-Mota'a, a spokesperson for the project, said the agreement's finalization will occur at the end of the week, and loan agreements from the AFESD
to start implementing the project will be signed.
The ministry will sign an agreement for a loan of 30 million Kuwaiti dinars ($108 million) with the Kuwait-based AFESD
and another 375 million Saudi riyals ($100 million) agreement with the Saudi fund this week, it said on its website Sunday.
Addressing the occasion, the Minister of Finance and National Economy, Ali Mahmoud Abdul-Rasoul, commended the efforts of Al-Hamad and the contributions of the AFESD
in support of Sudan toward the achievement of development in the states affected by conflicts, highlighting on the Fund's contributions to the implementation of Merowe Dam
Abdellatif Youssef al Hamad said that this agreement is a new landmark on the path of boosting the fruitful co- operation and partnership between AFESD
Another aid agreement worth KWD 200,000 (equivalent to approximately $700,000) in favour of the Ain Shams Specialised Hospital got signed between AFESD
and Naglaa Al-Ahwani, Minister of International Cooperation
The agreement, which was signed at the sidelines of the 39th Annual Meeting of the Board of Governors of the Islamic Development Bank Group (IDB), stipulated that the AFESD
would provide funding support of K.
Muscat, Apr 1 (ONA) Darwish bin Isma'eel al-Balushi, Minister Responsible for Financial Affairs left here today heading to the United Arab Emirates (UAE) to lead the Sultanate's delegation in the joint annual meetings of the Arab Financial Authorities, namely the Arab Fund for Economic and Social Development (AFESD
), Arab Monetary Fund (AMF), Arab Investment and Export Credit Guarantee Corporation, Arab Bank for Economic Development in Africa, Arab Authority for Agricultural Investment and Development (AID) and meeting of the Supervisory Council on the Account of AFESD
to fund the small and medium enterprises (SMEs).
The agreement was signed by the Yemeni Minister for Planning and International Cooperation, Mohammed Al-Sadi, and the AFESD
General Director, Abdul-Atif Yousif Al-Hamad.
The agreements were signed by Yemen's Minister of Planning and International Cooperation Abdul-Karim Al-Arhabi and Chairman of AFESD
The overall contribution of AFESD
to fund the power plant which will have a capacity of 400 megawatts has reached 180 million dinars.
The CEF Director indicated that the symposium marks the second event as part of a new series organized by the CEF jointly with the AFESD
aimed at stimulating discussion on timely economic issues that are of special interest to the public and policymakers in Kuwait and the wider Arab community.