Latest news with #KFAED
Zawya
05-05-2025
- Business
- Zawya
Bahrain advances $404mln SJAS Highway upgrade project with consultancy bids
Bahrain is moving forward with the second phase of the Sheikh Jaber Al-Ahmad Al-Sabah (SJAS) Highway upgrade project, with two bids submitted for pre-contract engineering consultancy services. AECOM Middle East and Parsons Global Services have submitted proposals in response to a request for proposals (RFP). The tender was opened on 24 April 2025. Both bids have been accepted for evaluation but financial details were not disclosed. The consultancy scope includes revising approved designs to reflect updated area plans and ensuring at least five lanes in each direction where possible. The plan also requires maintaining a minimum of two lanes at junctions and service roads, updating utility corridors, and overhauling the stormwater drainage system to accommodate current rainfall patterns. Final contract drawings and tender documentation will also be prepared for contractor appointment. The project is supported by the Kuwait Fund for Arab Economic Development (KFAED), which signed a 10 million Kuwaiti dinars (approximately $32.4 million) loan agreement with Bahrain's government to fund the upgrade, Kuwait's state news agency KUNA said in a March 2025 report. The total cost of the upgrade is estimated at $404.4 million, with KFAED financing about 8 percent. (Writing by Deva Palanisamy; Editing by Anoop Menon) ( Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
Arab Times
29-04-2025
- Business
- Arab Times
Visas on arrival ... Sierra Leone envoy woos Kuwaiti tourists, businessmen
KUWAIT CITY, April 29: Deputy Foreign Minister for African Affairs Nayef Al-Mudhaf said the Public Authority for Manpower (PAM) is currently reviewing the domestic and civil labor agreements with Sierra Leone. He affirmed that Kuwait will submit a copy of the proposed agreement to the Sierra Leonean government for deliberation and consensus on its stipulations, in preparation for its official implementation. In a press conference organized by the Embassy of Sierra Leone on the occasion of the National Day, Al-Mudhaf revealed that Kuwait has finalized a similar agreement with the Federal Democratic Republic of Ethiopia; and it is engaged in discussions with the Republic of Kenya and other African nations in this regard, consistent with the policy of the State to expand its civil and domestic labor sources. He elaborated that Kuwait has, in recent years, commenced the recruitment of skilled professionals from certain African nations, whose competence in the country has been substantiated. On the standardization of labor recruitment costs, Al- Mudhaf explained that pricing variations are contingent upon the legislative frameworks of each country. 'Nonetheless, Kuwait employs comprehensive agreement formats, resulting in considerable convergence in price levels. It also complies with international accords on labor practices,' he stressed. He added that Kuwait remains amenable to proposals from those seeking to engage in such agreements for the benefit of all concerned parties. Concerning bilateral relations with Sierra Leone, Al- Mudhaf confirmed the continuous contributions of Kuwait Fund for Arab Economic Development (KFAED) to support development projects in Sierra Leone. He revealed the fund has granted 11 loans totaling around $83 million to boost vital sectors like infrastructure and water treatment. He said Kuwait and Sierra Leone have executed seven substantive cooperation agreements, encompassing various areas; such like economic and trade, establishment of a joint commission, political consultations, air transport services and education. He added other agreements are under negotiation and are being finalized, indicating that dialogues are being conducted to strengthen coordination in different fields, like reciprocal visits to fortify bilateral relations. Meanwhile, Ambassador of Sierra Leone to Kuwait Haja Ishata Thomas confirmed that her country appreciates the strong bilateral relations with Kuwait. She described these relations as 'substantial, enduring and mutually advantageous throughout more than three decades of collaboration.' She lauded the constructive role of Kuwait, through KFAED, in assisting her country, especially during difficult times like the Ebola outbreak in 2014 and the 2017 landslide, as well as its contributions to the funding of water infrastructure, medical facilities, and road systems. She affirmed the allocation of land in the capital, Freetown -- for the construction of the new Kuwaiti embassy, reflecting the two nations' dedication to deepen their diplomatic relationship. She encouraged Kuwaiti investors to capitalize on the promising investment opportunities in her country, underscoring the economic reforms that have positioned her nation as an appealing investment destination in West Africa. She revealed the Sierra Leonean government offers incentives like tax relief, simplified administrative procedures and profit repatriation. She also mentioned the abundant natural and cultural resources in her country; such as pristine beaches, tropical rainforests and historical monuments. She invited Kuwaiti nationals and residents to visit Sierra Leone, disclosing that visas are issued upon arrival or through the Sierra Leonean Embassy in Kuwait. Al-Seyassah/Arab Times Staff
Arab Times
16-04-2025
- Business
- Arab Times
Kuwait-Tajikistan relations celebrate 30-year milestone
KUWAIT CITY, April 16: Assistant Foreign Minister for Asian Affairs Ambassador Samih Jawhar Hayat has affirmed the strength of the relationship between Kuwait and Tajikistan, stressing that both nations are committed to deepening bilateral cooperation and exploring promising avenues for mutual benefit and sustainable development. Speaking at a celebration hosted by the Embassy of Tajikistan to commemorate the 30th anniversary of diplomatic relations between the two countries, Hayat asserted that 'from the beginning, Kuwaiti-Tajik relations have been grounded in mutual respect and constructive cooperation.' He pointed out that in the last three decades, the relationship has steadily grown -- a manifestation of both countries' dedication to solidify their friendship, enhance coordination, and promote shared interests. 'Today, we proudly celebrate 30 years of diplomatic ties with the Republic of Tajikistan. These relations started in 1995 and steadily strengthened through mutual understanding and a genuine desire to expand cooperation between the two friendly nations,' he added. He also cited the historic visit of Tajikistan's President Emomali Rahmon to Kuwait in November, and his meeting with His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah; considering it a milestone on the path of bilateral ties. 'We value the cooperation between Kuwait and Tajikistan, as well as with the wider Central Asian region. Kuwait remains steadfast in its commitment to advance this important partnership,' he added. He underscored the importance of sustained coordination and consultation -- both bilaterally and within international forums -- to further activate the roles of Kuwait and Tajikistan in promoting regional and global peace, stability and development. On the other hand, First Deputy Minister of Foreign Affairs of Tajikistan Ismatullah Nasriddin echoed similar sentiments, praising the continuous progress in Tajik-Kuwaiti relations over the past 30 years. He said the principles of mutual respect and effective collaboration are the main pillars underpinning joint efforts to support regional and international peace. Nasriddin also acknowledged the deep cultural and civilizational ties that bind the two nations, confirming that Kuwait is considered one of Tajikistan's most trusted partners in the Middle East, in the same manner that Tajikistan is a reliable partner for Kuwait in Central Asia. While reaffirming the commitment of Tajikistan, under the leadership of President Rahmon, to expand multidimensional cooperation with Kuwait, he lauded the significant role played by the Kuwait Fund for Arab Economic Development (KFAED) in supporting vital infrastructure and social service projects in Tajikistan.
Arab Times
29-03-2025
- Business
- Arab Times
Kuwait, Tajikistan expand cooperation with new embassies and direct flights
KUWAIT CITY, March 29: Dean of the Diplomatic Corps and Ambassador of Tajikistan Dr. Zubaydullah Zubaydov has confirmed the opening of a Kuwaiti Embassy in the capital -- Dushanbe, as well as the appointment of a Kuwaiti ambassador there; indicating the opening is expected to take place within the next few months. At a press conference held recently to mark the 30th anniversary of the establishment of Kuwaiti-Tajik relations, Zubaydov announced the allocation of land for the construction of the Tajik Embassy in the diplomatic zone in Mishref. He said construction will begin soon, without specifying a date. He also revealed that his country abolished entry visas for Kuwaitis; adding that during his meeting with Foreign Affairs Minister Abdullah Al- Yahya, they discussed facilitating the entry of Tajiks to Kuwait with the Kuwaiti side. He said the minister promised to consider this matter as soon as possible and to allow Tajiks to obtain electronic visas. He expressed his satisfaction over the achievements made so far; stressing 'our political relations are distinguished. We have signed approximately 30 cooperation agreements and memoranda of understanding with Kuwait. We also have a program to develop economic relations between the two countries.' He confirmed the contributions of Kuwait Fund for Arab Economic Development (KFAED) to the development process in Tajikistan, where the fund has financed six vital projects. He added 'Kuwait will host the Foreign Affairs Conference of the Gulf and Central Asian States in the middle of next month. The Tajik foreign affairs minister will attend the conference. A leaders' summit will be held in the Uzbek city of Samarkand in May and there is cooperation between the two countries in the field of combating terrorism; specifically the conference held in Kuwait on this issue, co-chaired by the United Nations, Kuwait and Tajikistan.' Regarding the supply of Tajik water to the Gulf region, he stated that 'Tajikistan was one of the countries under the former Soviet Union. It has approximately 60 percent of the water reserves in Central Asia, so it can supply the Gulf countries with fresh water through Iran.' He affirmed his belief in the possibility of implementing the project in the near future, as well as the possibility of cooperation in the field of electricity generation. He pointed out that Tajik President Emomali Rahmon chose Kuwait as the first Arab country he officially visited, reflecting Tajikistan's commitment to strengthen bilateral relations and learn from the experience of Kuwait as a developed country. He said 'the tourism sector is another area for strengthening cooperation between the two friendly countries. This progress has facilitated the establishment of direct flights between the capitals of Tajikistan and Kuwait through Kuwait Airways.' 'Since the establishment of diplomatic relations between Tajikistan and Kuwait, the foreign affairs ministries of the two countries have actively sought to implement the directives of their leaderships; thereby, strengthening cooperation in areas of mutual concern. Bilateral political consultations, several sessions of which have been held in the capitals of the two friendly countries, are considered the main mechanism for coordinating and overseeing these efforts,' he explained.
Trade Arabia
24-03-2025
- Business
- Trade Arabia
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.
