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Board Meetings
Internal Bulletin 3 – 23/10/2012
The Fund's Board of Directors held its 3rd Session for the year 2012 on Monday 22nd October 2012. The Board considered at its session the Minutes of its 2nd Session of the Board for the year 2012 held on 18th June, 2012 and authenticated on July 4, 2012. The Board also considered the Minutes of the 3rd Session for the year 2012 of the Board's Investment Committee held on 12 September 2012 and also the Board Considered the Minutes of the Board's Internal Audit Committee's 5th and 6th Sessions for the year 2012 held on September 12 and October 3, 2012. The Board also approved the Committee's recommendation for the renewal of External Auditors of the Fund Account for the year 2012-2013. The Board also approved in this Session the Fund's 50th Annual Report (2011-2012) and the Fund's estimated budget for the year 2013 – 2014.
The Board considered the 2nd Session of the Board's Loan Committee held on September 16, 2012, including approval, in principal, of the following projects:
| 1. | Republic of Lebanon | (a) | Slaughter House Project in Tripoli |
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| (b) | Kfarhelda-Batroun Province Sewage System Project |
| 2. | Republic of Sudan | El Rahad Agricultural Project (1st Phase) | |
| 3. | Arab Republic of Egypt | Signal System for Railway Line in Benha-Ismailia-Port Said Project
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| 4. | Republic of Tunisia | Rehabilitation of Transmission and Distribution Network of Natural Gas Project
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| 5. | Republic of Cape Verde
| Improving of Health Systems Project | |
| 6. | Republic of Zambia | Three Teachers Training Colleges for Mathematics, Science and Technology in Petauke, Sesheke and Solwezi Districts
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| 7. | Democratic Socialist Republic of Sri Lanka
| Reconstruction of 25 Bridges on the National Highway Network Project
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| 8. | People's Republic of China | Construction of Vocational Education Centre in Wuzhou City Project
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| 9. | Ukraine | Construction and Equipping of new Specialized Hospital in the area of Kherson |
| 10. | Republic of Cote d'Ivoire | Bouna-Doropo-Burkina Border Road Project |
| 11. | Burkina Faso | Ouagadougou – Donsin Airport Project |
The Board in this Session also approved the following Loans:
A Loan in the amount of 10 million Kuwaiti Dinars for the 2nd Phase of Al-Nama-Fasala Road Project in the Islamic Republic of Mauritania.
A Loan in the amount of 25 million Kuwaiti Dinars for financing the rehabilitation of Alzok and Algea Power Stations in the Republic of Lebanon.
A Loan in the amount of 25 million Kuwaiti Dinars for Electrification of Eastern Province in the Republic of Sudan.
A Loan in the amount of 4 million Kuwaiti Dinars for financing the Greenville Port Rehabilitation Project in the Republic of Liberia.
A Loan in the amount of 6 million Kuwaiti Dinars for the Construction of a New Pyongyang – Pyongsong Road Project in the Democratic People's Republic of Korea.
A Loan in the amount of 10 million Kuwaiti Dinars for financing the Belgrade Railway JunctionProject in the Republic of Serbia.
Amendment of the Loan Agreement No. (390) signed on 19/12/1990 and the Supplementary Loan Agreement No. (433), signed on 26/06/1993 for the Development of 400,000 Feddan in North Sinai Project in the Arab Republic of Egypt.
Amendment of the Project Description and the List of Goods related to Loan No. (704) for Third Karnaphuli Bridge Project, signed on 02/07/2005, in the People's Republic of Bangladesh.
A Technical Assistance in the amount of 250,000 Kuwaiti Dinars for financing the preparation of Technical and Economic Feasibility Study and Detailed Designing for the Feeder and Agricultural Road Project (2nd Phase) in Saint Lucia.
A Technical Assistance in the amount of 150,000 Kuwaiti Dinars for Updating a Feasibility Study and Detailed Designing and Tender Documents for "Chay-Nyahoua" Road Project in the United Republic of Tanzania.
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A Grant of US Dollars 200,000 for financing the 1st Phase of the Arabian Development Gateway.
The Fund contribution for the 9th Replenishment to the International Fund for Agricultural Development (IFAD) on behalf of the Government of the State of Kuwait.
The Board has been informed of the State of Kuwait's Grants administered by the Fund to finance the development projects in the Kingdom of Bahrain, Sultanate of Oman, Hashemite Kingdom of Jordan and the Kingdom of Morocco in the Framework of the GCC Development Program.
The Board has been informed of the development of the Legal Case on the dispute between Kuwait Fund and Al-Dhahrani Construction Company in the Kingdom of Bahrain.
The Board has been informed of the cancellation of the Loan Agreement No. (682) forBasseterre Port Development Project signed on 05/08/2004 between St. Kitts and Nevis and Kuwait Fund.
