Friday , September 21 2018

Kuwait fund initials KD 7.5 million loan agreement with Republic of Mauritius

Flacq Teaching Hospital Project ‘Phase 1’ to be financed

The loan agreement being signed

KUWAIT CITY, June 21: A loan agreement was signed today in Port Louis between the Republic of Mauritius and Kuwait Fund for Arab Economic Development, whereby the fund will provide a loan of Kuwaiti Dinars 7,500,000 million (equivalent to about 25.5 million US dollars) to assist in the financing of the construction and equipping of Flacq Teaching Hospital Project “Phase-1” in the Republic of Mauritius. It is worth mentioning that the fund depends exclusively on its own resources in providing its loans and development assistance.

The loan agreement was signed on behalf of the Republic of Mauritius by His Excellency Dr Mohammad Anwar Husnoo – Minister of Health and quality of Life , and on behalf of the fund by Hamad Al-Omar, Deputy Director- General of the Kuwait Fund for Arab Economic Development. Ayad Al-Gharaballi, Regional Manager for Central, East South African countries at Kuwait fund, attended the signing ceremony. The project aims at supporting the development of the health sector of the Republic of Mauritius, by helping in meeting the increasing demand for modern healthcare services, improving its quality, and securing hospital services and healthcare coverage in the district of Flacq.

The project will provide adequate infrastructure and technical facilities, as well as meet the needs for modern medical equipment and specialized diagnostic and therapeutic care services, with the aim of reducing morbidity and mortality, thus contributing to the improvement of the health status of the population, which is expected to have a positive impact on the country’s health and socio-economic indicators.. The project comprises of constructing and equipping the Flacq Teaching Hospital (Phase I).

The project also includes the supply and installation of medical and non-medical equipment, medical and non-medical furniture, consultancy services for the preparation of detailed engineering and architectural designs and the preparation of tender documents. By concluding this agreement the fund would have provided to the Republic of Mauritius seven loans, as Kuwait fund has already made six loans to the Republic of Mauritius in different sectors with a total amount of about KD 15.914 million, the total amount has been paid to the Fund.

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