AGREEMENT ON GRANT OF KUWAIT WAS SIGNED
H.E Mr. Munkhbat Jamiyan, Minister of Mongolia and Chief of Cabinet Secretariat met with Mr. Abdulwahab Al-Bader, Director General of Kuwait Fund for Arab Economic Development on 23rd of May, 2017 and discussed the issues of bilateral relations and cooperation between two countires. The Minister underlined that the cooperation with the Kuwait Fund is very high on the agenda among issues discussed during the Intergovernmental commission meeting taking place in Kuwait city these days.
During the meeting, the Minister noted that the Kuwait Fund for Arab Economic Development has been played an important role in deepening the relations between Mongolia and Kuwait. Also, he expressed the gratitude to Kuwait Fund for implementing projects which have been contributing to social and economic development of the country and assured to cooperate further at a wider scope. In response, the Kuwait Fund expressed its interest to take part in development projects in infrastructure and health sectors.
Afterward the meeting, H.E Munkhbat Jamiyan, Minister of Mongolia and Chief of Cabinet Secretariat and Mr. Abdulwahab Al-Bader, Director General of the Kuwait Fund for Arab Economic Development have signed the agreement on financing construction of a Burn Treatment Center of Mongolia. According to the agreement, the Government of the State of Kuwait will provide a grant of USD 8 million to construct the Burn Treatment Center in Mongolia.
In the past, Kuwait Fund provided soft loans of USD 58.2 million for construction of total 415 km paved roads between Darkhan-Erdenet, Erdenet-Bulgan-Unit, Unit-Tarialan as well as a soft loan of almost USD 20 million for construction of Taishir Hydropower Station. Also, the Government of the State of Kuwait provided USD 3.4 million of nonrefundable assistance for construction of “Kuwait-Mongolia Research Center”, USD 60,000 of aid to citizens of the Bayan-Ulgii province affected by flood in 2016 and at present is helping by financing the construction of 35 houses to flood victims. Moreover, Kuwait donated emergency aid equipment to central hospitals of Khentii and Bayan-Ulgii provinces.
At the end of the meeting, the Minister Munkhbat Jamiyan awarded Mr. Abdulwahab Al-Bader, Director General of the Kuwait Fund for Arab Economic Development by the “Medal of Friendship” for his contribution and effort to develop the relations and cooperation between Mongolia and the State of Kuwait.