The Fund’s Board of Directors held its 3rd Session for the year 2006 on Saturday, 11th November, 2006. The Board considered at its session the Minutes of it’s 2nd Session for the year 2006 held on 5th June, 2006 ratified on 25th June, 2006, and also considered the decision by Circular No. 2 for the year 2006 issued on 10th October, 2006 approving the Estimated Budget of the Kuwait Fund for the FY 2007/2008. Final Accounts and the Auditor's Report for the financial year ending 31st March, 2006.. The Board also approved at its Session the following:
Minutes of the 3rd and 4th Sessions for the year 2006 for the Board's Investment Committee held on 5th June, 2006 and 4th October, 2006.
Minutes of the 2nd Session for the year 2006 for the Board's Loan Committee held on 8th October, 2006 and the Committee's recommendation to consider, in principle, financing the following projects:
Ygueresso – Debougou Road Project in Burkina Faso.
The Second National Programme for Rural Roads in the Kingdom of Morocco.
The Rural Roads Project in St. Lucia.
Upgrading of Shire-Shiraro-Tekeze Road Project in the Republic of Ethiopia.
Rehabilitation and improvement of the Poultry Industry in the Arab Republic of Egypt.
Anhui Chuzhou City Comprehensive Environment Rehabilitation Project in the People's Republic of China.
Bura Irrigation and Resettlement Scheme Project in Kenya.
Supplementary funding for the Educational Buildings in the City of Beirut in the Republic of Lebanon.
Development of Dhmadum Industrial Estate in the Kingdom of Bhutan.
Commencing the Fund operations in the Republic of Nigeria.
A Loan in the amount of Kuwaiti Dinars 4 million for financing the Thyolo – Bangula Road Project in the Republic of Malawi.
A Loan in the amount of Kuwaiti Dinars 3 million for financing the Medina Gounass – Guinean Border Road Project in the Republic of Senegal.
A Loan in the amount of Kuwaiti Dinars 30 million for the financing of Al-Atf Power Generation Project in the Arab Republic of Egypt.
A Loan in the amount of Kuwaiti Dinars 5 million for the financing of Comba-Bomehon Road Project in the Republic of Guinea.
A Loan in the amount of Kuwaiti Dinars 15 million for the financing of the Fas-Wajda Highway Project in the Kingdom of Morocco.
Contribution of Kuwaiti Dinars 16.53 million for the Replenishment of IDA resources and US$ 19.8 million for the Replenishment of ADF resources, to assist in meeting this cost under the Multilateral Debt Relief Initiative (MDRI).
Applying the HIPC Initiative on loans granted to the Republic of Comoros.