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Kuwait to fund $73m projects in West Africa

The Kuwait Fund for Arab Economic Development will build a 105km road in Senegal, and a drinking water project in Mali

Kuwait's KFAED will develop a drinking water project in Africa's Mali [representational image].
Kuwait's KFAED will develop a drinking water project in Africa's Mali [representational image].

Kuwait will fund the development of two projects, worth $73m (KWD22m), in Senegal and Mali. 

A loan agreement, worth $41m (KWD12m), was signed between the Kuwait Fund for Arab Economic Development (KFAED) and Senegal. 

READ: Leaders Kuwait 2017: What’s on the agenda?

According to KFAED, the loan will be geared towards developing a highway project in Senegal.

The 105km road will develop transportation, commerce, and cargo services in the West African country. 

KFAED stated this agreement marks its 30th loan to the African country, with the total amount of its financial support to Senegal equalling $374m (KWD110m). 

Additionally, KFAED also inked a loan agreement worth $32m (KWD9.5m) with the Republic of Mali to finance a drinking water project in the latter's Bamako district. 

Phase 1 of the project comprises civil and electromechanical works to expand the Bamako water project. 

READ: Kuwait to launch three PPP projects in 2018

A water treatment plant, reservoirs, pumping stations, and distribution networks will be constructed as part of the agreement's first phase. 

KFAED said new conveyor lines would be laid down as well, and household connections and water taps would also be installed. 

The project also includes the provision of consultancy services for the preparation of detailed designs, tender documents, and supervision of work implementation, in addition to institutional support and project management.

In a statement cited by state news agency, KUNA, KFAED said the loan to Mali would spur social and economic development in Bamako. 

 

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Construction Week - Issue 747
Aug 03, 2019