Kuwait Fund hosts Omani military delegation

In presence of Acting Director-General of Kuwait Fund for Arab Economic Development (KFAED) Mr. Waleed Shamlan Al-Bahar, with participation of Superintendent of the Operations Department for Arab Countries Mr. Fawaz Al-Adsani, Kuwait Fund hosted at its headquarters today a military delegation from the Joint Command and Staff College of Oman, as part of an official visit to the country.

Al-Bahar welcomed the visiting delegation, led by Brigadier-General Saif bin Hamad Al-Yousefi, Commander of the Omani Command and Staff College, and affirmed that Oman is a high priority for the Fund, which contributes to boost development efforts in the Sultanate since 1976 through financing several projects in various vital sectors.

He also noted KFAED's contribution in financing Al-Wafra Power Station project, in collaboration with the GCC Interconnection Authority (GCCIA), to strengthen the national electrical network in Arabian Gulf states and ensure the sustainability of electrical energy at all times and under all circumstances.

"Kuwait Fund, along with Saudi Fund for Development, Abu Dhabi Fund for Development, and Arab Fund for Economic and Social Development, is currently considering a number of projects in collaboration with GCCIA, including a power interconnection project with Oman via United Arab of Emirates and Kingdom of Saudi Arabia," said Al-Bahar.

For his part, Al-Adsani gave an introductory presentation on the Fund's activities, highlighting its achievements since its inception, in addition to the nature of its work and operations that mirrored Kuwait's foreign policy, which is based on development and humanitarian aid on regional and international levels.

He also delivered an explanatory speech about the Fund's strategies and operations in various development sectors, and shed light on its role in managing the grants given by the State of Kuwait to several countries.

"The total number of loans extended by the Fund to Oman has reached 23 loans, while the volume of the loans has amounted to KD 189 million (equaling USD 604 million)," he said, adding that one grant worth KD 142,000 (equaling USD 463,000) was extended to the Sultanate.

At end of the meeting, Al-Bahar and Al-Yousefi exchanged commemorative shields in appreciation of the efforts exerted by the two brotherly countries to consolidate development cooperation between them.