Signature of a Grant Agreement in the Republic of Mali
Tuesday, 26 June 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 Kuwait between the Republic of Mali and Kuwait
Fund for Arab Economic Development, whereby the Fund shall extend a Grant of US
Dollars five million (US$ 5,000,000/-) to contribute in the financing of small
and micro projects in the agricultural sector in the Republic of Mali through the
Economic Development Fund in Mali.
The Grant Agreement
was signed on behalf of the Republic of Mali by H.E minister of Finance Mr. Tiena Calubaly ,and
on behalf of Kuwait Fund for Arab Economic Development by Mr. Ghanem
Al-Ghenaiman Deputy Director General for Investment.
The Grant Agreement aims at
contributing sufficient food security and increasing food production in the
Republic of Mali 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 2nd
Governmental GrantAgreement extended by
the Fund to the Republic of Mali, considering the Fund had already extended to Mali
in 1984 a Grant to develop water supply programme in Liptako Gourma Region with
a total amount of KD 2.4 million (i.e. US$ 8.4 million).The Fund also extended to Mali 10 Loans to
finance projects in different sectors with a total amount of about KD 45
million (i.e. US$ 157.5 million).The
Fund had also extended to Mali 6 Technical Assistance Grants with a total
amount of KD 791,000/- (i.e. US$ 2.7 million).
