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As part of ongoing efforts to strengthen bilateral relations between the State of Kuwait and the Republic of the Maldives, and on the sidelines of signing a loan agreement to finance hospitals on the small islands of the Maldives, the Acting Director-General of the Kuwait Fund for Arab Economic Development, Mr. Waleed Shamlan Al-Bahar, conducted a field visit to the projects funded by the Fund in recent years.
The visit included an inspection tour of Velana International Airport, the main airport in the Maldives (formerly known as Ibrahim Nasir Airport). The project aims to support the economic and social development of the Republic, with the Fund contributing to the expansion and development of airport facilities to meet the anticipated increase in air passengers and cargo traffic. This contribution was made in partnership with the Saudi Fund for Development, the Abu Dhabi Fund for Development, and the OPEC Fund for International Development, along with the contribution of the Government of the Republic of the Maldives.
It is worth noting that the Kuwait Fund provided its first loan to the Republic of the Maldives in 1976, and the Fund's contributions to the Republic have included more than 14 development projects, including the development of Maldives ports, the rehabilitation of infrastructure damaged by the tsunami disaster, and other projects for the development of drinking water and sanitation.
About the Kuwait Fund for Arab Economic Development
The Kuwait Fund For Arab Economic Development is the first institution in the Middle East that took an active role in the international development efforts.
The Kuwait Fund extends Loans on concessionary term to finance development projects in the developing countries. The Fund also provides technical assistance to finance the costs of the feasibility studies of projects, as well as the training of nationals of the borrowing countries. In addition, the Fund subscribes in the capital of international and regional development institutions. Today, the Kuwait Fund forms a solid bridge of friendship and solidarity between the state of Kuwait and the developing nations.
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