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Arab, African leaders go into second day of talks to back up joint development cooperation
November 20, 2013, 10:12 am
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Arab and African Heads of State and Governments or their representatives continue talks here for the second day of the Kuwait-hosted November 19-20 Third Africa-Arab Summit. More than 71 delegations are taking part in the conference which began its activities a week earlier, when experts met to pave the way for recommendations to be approved by the participating countries.
In a televised session last night the leaders in their speeches extolled the initiative of His Highness the Amir of Kuwait to host the conference and stressed significance of joint cooperation and investment in Africa. They also showed commitment to maintain the summit's convocation every three years. Egypt has hosted the conference in 1977, after which the summit convened in Sirte, Libya in 2010 during which it was agreed to meet regularly with His Highness the Amir bidding for its reception in 2013.

Held under the theme "Partners in Development and Investment", the Kuwait summit received wide welcome from the Arab and African leaders. His Highness the Amir during the openining session yesterday announced full fledged support to joint cooperation, directing the Kuwait Fund for Arab Economic Development (KFAED) to present USD one billion in easy loans for Africa during the next five years. His Highness the Amir also declared Kuwait's readiness to cooperate and coordinate with the World Bank and international financial institution to invest USD one billion in Africa in the coming years.

His Highness Sheikh Sabah also declared launch of an annual USD one million Award in the name of late Dr. Abdulrahman Al-Sumait focusing on development research in Africa. the Award is to be supervised by the Kuwait Foundation for the Advancement of Science. The KFAED on sidelines of the conference signed a host of loan agreements with some African countries at the presence of their leaders,. The Arab and African leaders are expected to conclude their conference today by issuing the Kuwait Declaration and a statement of several resolutions targeting joint cooperation between the two sides. They are also expected to issue a special statement on the situation in Palestine.

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