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His Highness Amir''s three initiatives aim at sustainable development in Africa - Jarallah
November 20, 2013, 7:04 am
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His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah's three initiatives on Africa aimed at enhancing sustainable development and well-being of African people, a senior official said.

His Highness the Amir, during the opening of the 3rd Africa-Arab Summit earlier on Tuesday, announced the initiatives which reflected his "keenness and sense of importance of boosting cooperation relations between Arab and African countries," Foreign Ministry Undersecretary Khaled Al-Jarallah told KUNA.

His Highness Sheikh Sabah instructed Kuwait Fund for Arab Economic Development (KFAED) to extend USD billion in easy loans to assist development in Africa in the coming years, noted Al-Jarallah.

In his speech, the Kuwaiti leader said: "I directed officials of the Fund to extend soft loans to African countries in the amount of USD one billion during the next five years, not to mention investments by a number of Kuwaiti corporations in various sectors." Al-Jarallah also noted that His Highness the Amir, keen on strengthening strategic partnership between African and Arab regions, also announced investments with international institutions and development research.

His Highness the Amir stressed determination to coordinate with world financial institutions to ivnest another USD one billion in Africa's infrastructure "because he believed in importance of parntership and investment in this continent," said Al-Jarallah.
In his speech, His Highness the Amir announced that Kuwait was determined to work in cooperation and coordination with the World Bank and other financial institutions to guarantee the investment of USD one billion, during the coming years in African countries with focus on infrastructure as an added value for the economies of these countries.

The Foreign Ministry official also cited His Highness Sheikh Sabah's launch of an annual USD million award in the name of late Dr. Abdulrahman Al-Sumait focusing on development research in Africa. The award will be supervised by Kuwait Foundation for the Advancement of Sciences (KFAS).

"The initiatives of His Highness the Amir were warmly welcomed and appreciated by the leaders of the African countries," said Al-Jarallah.
He said the deliberations of the summit took place in a positive atmosphere. He said His Highness the Amir also announced backing to the UAE to hosting the EXPO 2020. Al-Jarallah, meanwhile, said the Arab and African leaders endorsed Kuwait Declaration, the draft resolutions and a statement on Palestine.

He said Kuwait's Declaration avoided political issues "as planned by the State of Kuwait and accepted by the participants."

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