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FINANCIAL NEWS
Kuwait pledges $500m for East Sudan
01 Dec 2010
(MENAFN) Kuwait announced earmarking $500 million worth of aid for execution of infrastructural and social services projects in East Sudan, Kuna reported.
The announcement was made by the Deputy Prime Minister and Foreign Minister, Sheikh Dr. Mohammad Sabah Al-Salem Al-Sabah, addressing the International Donors and Investors Conference for East Sudan.
The funds would be granted through the Kuwait Fund for Arab Economic Development (KFAED). Up to USD 450 million will be allocated for the execution of infrastructural ventures and the rest of the sum will granted for social ventures, he said.
Thirty-nine countries, 28 world renowned institutions, as well as 73 Non-Government Organizations (NGOs) are participating in the conference.
KFAED has been backing up Sudan since the fund was incepted in 1962.
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