Kuwait Fund inks finance deal for vital Bahrain project
Bahrain has signed a key financing agreement with the Kuwait Fund for Arab Economic Development (KFAED) for the development of Shaikh Jaber Al Ahmad Al Sabah Avenue, a vital artery connecting the Southern Governorate and the Capital, serving industrial, residential and commercial areas.
One of the strategic projects in Bahrain, the project scope includes widening the avenue over a total length of 11km, adding service roads on both sides to serve exhibitions, and commercial and administrative buildings as well as construction of five flyovers, reported BNA.
The deal was signed by Shaikh Salman bin Khalifa Al Khalifa, Bahrain's Minister of Finance and National Economy, and Waleed Shamlan Al Bahar, Acting Director-General of KFAED in the presence of Sheikh Thamer Jaber Al Ahmad Al Sabah, Ambassador of Kuwait to Bahrain.
Lauding the longstanding relations between Bahrain and Kuwait, Shaikh Salman said it continues to grow across various domains under the leadership of His Majesty King Hamad bin Isa Al Khalifa, and His Highness Sheikh Mishal Al Ahmad Al Jaber Al Sabah, Amir of Kuwait.
Shaikh Salman underscored Bahrain's commitment to continuing the implementation of development programmes and plans aimed at enhancing infrastructure and creating an environment conducive to the growth of promising economic sectors, thereby supporting economic growth and generating more quality opportunities to achieve the development goals of the Kingdom of Bahrain, said the BNA report.
He also highlighted the ongoing role of Kuwait in supporting various development projects in the Kingdom, commending the contributions of KFAED in financing and supporting development and economic projects across Arab countries, it added.
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