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Amir announces USD one billion easy loans to Africa
November 19, 2013, 12:32 pm

His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah on Tuesday announced his instructions to the Kuwait Fund for Arab Economic Development (KFAED) to extend USD one billion easy loans to African countries in five years.

His Highness the Amir also voiced support to United Arab Emirates (UAE) candidacy to organizing EXPO 2020. The UAE is bidding to host the World Expo 2020 in Dubai under the theme Connecting Minds, Creating the Future.

His Highness made the announcement as he took over the Chairmanship of the 3rd Africa-Arab Summit held here on November 19-20 under the theme (Partners in Development and Investment).

Meanwhile, Minister of Information and Minister of State for Youth Affairs Sheikh Salman Al-Hmoud Al-Sabah Al-Salem Al-Sabah affirmed here on Tuesday His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah's keenness to harness all facilities for the participating delegations in the 3rd Africa-Arab Summit particularly the media personnel.

"We are in dire need for convergence with the African continent in order to achieve more welfare for our peoples", the Minister told reporters after his tour in the media center accompanying the summit's activities at the Bayan Palace. He added that the foreign policy of the State of Kuwait under the directives of His Highness the Amir has laid firm constants through its interaction with the entire world based on mutual respect and confidence, expressing Kuwait's desire for more interactions with the African countries in the near future.

He said the theme of the summit: (Partners in Development and Investment) "puts a great responsibility on us to execute it through investing in all sectors and work on achieving the sought political rapproachment, and thus, achieving peaceful cooperation among us". He pointed out that the cultural cooperation is substantiation of peoples' cooperation "which we all seek to foster", adding that the organizing committee has harnessed all facilities and potentials for the success of the summit including the convention of cultural events

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