The Fund's Board of Directors held its first session for the year 2024 on Thursday, 02/05/2024. In this session, the Board reviewed the minutes of the meeting of the second session of 2022 of the Board of Directors, held on 31/03/2022 and approved on 11/04/2022. It also discussed the Management's memorandum regarding the formation of committees emanating from the Board of Directors and approving the closing accounts of the Kuwait Fund for Arab Economic Development and the auditors' report for the fiscal years 2021/2022 and 2022/2023. The Council reviewed the sixtieth annual report 2021/2022 and the yearly sixty-first report 2022/2023.
The Board also agreed at this session to the following:
1) Providing a loan of 6,000,000 Kuwaiti dinars to finance the Muhanga-Rubingira Road Project
(Muhanga-Nyangi section) in the Republic of Rwanda. and discussing the proposed loan
agreement.
2) Providing a second loan of 10,000,000 Kuwaiti dinars to contribute to financing the project to
supply the city of Kiffa with drinking water in the Islamic Republic of Mauritania, and discussing
the proposed loan agreement.
3) Providing a loan of 5,000,000 Kuwaiti dinars to finance the Dakar-Tifouane-Saint Louis highway
project (Gandon-Saint Louis section) in the Republic of Senegal, and discussing the proposed loan
agreement.
4) Providing a loan of 3,000,000 Kuwaiti dinars to contribute to financing a project to develop the
rice production chain in the Republic of Cameroon, and discussing the proposed loan agreement.
5) Providing a loan of 4,500,000 Kuwaiti dinars to contribute to financing the water supply project
for Bassila and Alada in the Republic of Benin, and discussing the proposed loan agreement.
6) Providing a loan of 3,000,000 Kuwaiti dinars to finance the small island hospitals project in the
Republic of Maldives, and discussing the proposed loan agreement.
7) Providing a loan of 7,500,000 Kuwaiti dinars to contribute to financing the Mohmand
Hydroelectric Dam project in the Republic of Pakistan and discussing the proposed loan agreement.
8) Provide a loan of 6,500,000 Kuwaiti dinars to finance the Chunkuri Bridge Project in the
Republic of Bangladesh, and discuss the proposed loan agreement.
9) Providing a second loan of 35,000,000 Kuwaiti dinars to contribute to financing the project to strengthen the Gulf electrical interconnection system and connect the network in southern Iraq with the Electrical Interconnection Authority of the Gulf Cooperation Council countries, and discussing the proposed loan agreement.
10) Providing a fourth loan of 30,000,000 Kuwaiti dinars to contribute to financing the 400 kV electrical power transmission network development project. (Financial Balance Program) in the Kingdom of Bahrain, and discussing the proposed loan agreement.
11) The Council noted the memorandum's statement to follow up on achieving the plan's main performance indicators for the fiscal year 2022/2023.
12) The Council took note of the memorandum on monitoring the achievements in key performance indicators for the first half of the fiscal year 2023/2024.
13) The Kuwaiti Fund's contribution on behalf of the Government of the State of Kuwait to the sixteenth increase of the resources of the African Development Fund (ADF).
14) The Kuwaiti Fund's contribution on behalf of the government of the State of Kuwait to the thirteenth increase of the resources of the International Fund for Agricultural Development