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Wednesday , February 8 2023

KFAED, Jordan ink deal

This post has been read 5241 times!

KUWAIT CITY, June 21: The Kuwait Fund for Arab Economic Development (KFAED) has signed a loan agreement with the Jordanian government to finance a public education infrastructure project in the Kingdom, worth $38.3 million, reports Al-Rai daily. The agreement and the memorandum of understanding were signed by the Director-General of the Kuwait Fund Marwan Al-Ghanim and the Jordanian Minister of Planning, Nasser Al-Shraideh. Al-Ghanim said in a statement to Kuwait News Agency (KUNA) that the agreement comes within the framework of what was agreed upon at the “Makkah Summit” with Kuwait’s commitment of $500 million provided by the Kuwait Development Fund to Jordan in the form of loans for the education and health sectors.

He added that the agreement is for establishing and rehabilitating classes in various regions of the kingdom. He indicated that the agreement confirms the commitment of the State of Kuwait, which since the “Mecca Declaration” until now has reached about 50 percent of the amount committed, noting that so far four agreements have been signed with Jordan worth a total value of $250 million, “and the rest of the projects will continue.” Regarding the memorandum of understanding, Al-Ghanim said that it comes within the framework of the project to establish memorials in the countries in which the fund is active, pointing out that the memorial that represents the relationship between the Kuwaiti Fund and the Hashemite Kingdom of Jordan will be erected in one of the public squares.

For his part, Jordanian Minister of Planning Nasser Al- Shraidah said that the agreement builds on the distinguished relations that unite the two brotherly countries and will enable the Jordanian side to establish public schools to accommodate more Jordanian students and move forward in reforming the education sector in the Kingdom. Regarding the memorandum of understanding, he said that it constitutes a message about what units the two brotherly countries and peoples through a memorial, praising the assistance provided by the State of Kuwait for development in Jordan. He pointed out that the memorandum of understanding stipulates the construction of a memorial in the Jordanian capital, Amman, “to strengthen the close historical ties that exist between the State of Kuwait and the Hashemite Kingdom of Jordan,” praising the support provided by the State of Kuwait to his country

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