Kuwait provides USD 32 million loan to Pakistan

ISLAMABAD, 26th Febraury 2015 (WAM) — An agreement between the State of Kuwait and Pakistan was signed on Thursday under which Kuwait will provide additional loan of USD 32 million to Pakistan for Neelum-Jhelum Hydro Power Project, said state owned Radio Pakistan.

Deputy Director General Kuwait Fund for Arab Economic Development Hamad Al-Omar and Pakistan’s Secretary Economic Affairs Division Saleem Sethi signed the agreement on behalf of their respective governments in federal capital Islamabad, KUNA reported.

“It was a pleasure for him to sign this agreement on behalf of government of Kuwait. Kuwait fund has undertaken a number of development projects in Pakistan and would continue its support,” Al-Omar said at the signing ceremony.

Kuwait Ambassador to Pakistan Nawaf Abdul Aziz Al-Enezi along with Pakistan’s Finance Minister Ishaq Dar witnessed the signing ceremony. Dar welcomed signing of the agreement saying, “It adds another chapter to Pak-Kuwait economic cooperation.”

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SOURCE: Wam