Tashkent, Uzbekistan (UzDaily.com) - On 25-28 November 2019, a delegation of the Kuwait Fund for Arab Economic Development (KFAED) headed by Deputy General Director Ghanem al-Ghinaiman visited Uzbekistan.

As part of the visit, organized with the assistance of the Embassy of our country in Kuwait, the next Loan Agreement in the amount of U$30 million was signed between the Ministry of Finance of Uzbekistan and the KFAED. These soft loans will be used to finance infrastructure projects included in the Program for the construction of individual housing in rural areas in Uzbekistan, which will be implemented in the Republic of Karakalpakstan, Kashkadarya, Samarkand, Surkhandarya, Ferghana and Tashkent regions.

Bilateral meetings of the Kuwaiti delegation with the leadership of the Ministry of Finance, the Ministry of Investment and Foreign Trade and Qishloq Qurilish Invest LLC were held, during which practical issues of further development of cooperation in the financial and technical sphere through joint implementation of new social projects in Uzbekistan were discussed.

On 5 April 5, within the framework of the Annual Meeting of the Board of Governors of the Islamic Development Bank in Marakesh, between Uzbekistan and the KFAER a Grant Agreement was signed in the amount of US$500,000 to prepare a feasibility study for two projects: “Improving the water supply system in Kagan and Kagan district of Bukhara oblasts ”and“ Improvement of the drinking water supply system in the Sherabad district of the Surkhandarya region ”.

Cooperation with the Kuwait Fund for Arab Economic Development dates back to 1997. To date, more than 10 large-scale projects in the fields of agriculture, irrigation, healthcare and education have been implemented using credit funds of the KFAED.