The Fund’s Board of Directors held its 2nd Session for the year 2012 on Monday 18th June, 2012.The Board perused at its session the Minutes of its 1st Session of the Board for the year 2012 held on 5th March, 2012 and authenticated on March 20, 2012.The Board also perused the Minutes of the 2nd Session for the year 2012 of the Board’s Investment Committee held on 2nd May 2012.The Board also considered the 4th Report of the Internal Auditors Committee for the year 2011,andthe Minutes of Meeting of the 3rd and 4th Session of the year 2012 of the Board’s Internal Audit Committee held on May 23, 2012, and June 18, 2012.
The Board approved the Fund’s Closing Account and the Auditors Report for the fiscal year ended on 31st March 2012. The Board also considered the Decision by Circular No. 1 for the year 2012 issued on 13/03/2012 approving the Second Loan for financing the Dam Complex of Upper Atbara and Setit Project in the Republic of Sudan and the Decision by Circular No. 2 for the year 2012 issued on 21/05/2012 approving a Loan for financing the Transmission Lines and Substations (Al Habeelein – Yafaa – Al Baida) Project in the Republic of Yemen.
The Board also approved in its Session the following:(1)A Second Loan in the amount of 17 million Kuwaiti Dinars for the Expansion of Natural Gas Distribution Network in the Governorates of Cairo and Giza Project (2nd Phase) and amending the Loan Agreement No. 770 signed on 17.7.2008 in the Arab Republic of Egypt.
(2)A Loan in the amount of 15 million Kuwaiti Dinars for financing the Third Expansion of Al Samra Power Generation Station – Adding Steam Turbine Units Project in the Hashemite Kingdom of Jordan.
(3)A Loan in the amount of 8 million Kuwaiti Dinars for financing the Dessie – Kutaber – Tenta JunctionRoad Project in the Federal Democratic Republic of Ethiopia.
(4)A Loan in the amount of 4.5 million Kuwaiti Dinars for financing the Development of Schools Infrastructure in North Nyamira/Borabu Project in the Republic of Kenya.
(5)A Second Loan in the amount of 2.94 million Kuwaiti Dinars for financing Metolong Water Supply Project and amending the Loan Agreement No. 740 signed on 16.3.2007 in the Kingdom of Lesotho.
(6)A Loan in the amount of 4 million Kuwaiti Dinars for financing the Multipurpose Rural Development Project in Da Bac's District of Hoa Binh Province in the Socialist Republic of Vietnam.- 2 -(7)A Loan in the amount of 6.5 million Kuwaiti Dinars for financing the Balkan Velayat Water Supply Project in the Republic of Turkmenistan.
(8)A Technical Assistance in the amount of 100,000 Kuwaiti Dinars for financing the preparation of Technical and Economic Feasibility Study and Detailed Designing and Tender Documents for the Sediment and Protection of the Coastline from Sea Erosion Project in Bogrbh Djerba in the Republic of Tunisia.
(9)A Technical Assistance in the amount of 180,000 Kuwaiti Dinars for financing the preparation of Technical and Economic Feasibility Studies for Adding Generator Units (1500 MW) in the Republic of Lebanon.
