Signature of a Grant Agreement in the Republic of Mozambique
Thursday, 31 May 2012
Within the
framework of the initiative of His Highness the Amir of the State of Kuwait
during the 1st International Islamic Economic Conference held in
Kuwait between April 29 to May 1, 2009 and referring to His Highness’
announcement for the establishment of Goodwill Fund to help the Islamic
countries in their efforts to supply food security for their People, a Grant
Agreement was signed today in Bamako between the Republic of Mozambique and Kuwait
Fund for Arab Economic Development, whereby the Fund shall extend a Grant of US
Dollars five million (US$ 6,000,000/-) to contribute in the financing of small
and micro projects in the agricultural sector in the Republic of Mozambique
through Banco Terra in Mozambique.
The Grant Agreement was signed on behalf of the Republic
of Mozambique by H.E. Aiuba Cuereneia, Minister of Planning and Development, and on behalf of Kuwait
Fund for Arab Economic Development by Mr. Hesham Al-Waqayan, Deputy
Director-General of the Fund.
The Grant Agreement aims at
contributing sufficient food security and increasing food production in the
Republic of Mozambique through extending loans for financing small and micro
projects in food production field and supplying the required services.
Upon signing this Agreement, this will be the 1st
Governmental Grant Agreement extended by the Fund to the Republic of Mozambique.
The Fund also extended to Mozambique 12 Loans to finance projects in different
sectors with a total amount of about KD 25.5 million (i.e. US$ 89.2 million).The Fund had also extended to Mozambique 5 Technical
Assistance Grants with a total amount of KD 576,000/- (i.e. US$ 2 million).
