Pakistan and Kuwait Strengthen Development Cooperation through Signing of Second Loan Agreement amount USD 25 million for Mohmand Dam Hydropower Project.
A signing ceremony was held today at the Ministry of Economic Affairs to formalize the Second Loan Agreement amounting to Kuwaiti Dinar 7.5 million (US$25 million) between the Government of the Islamic Republic of Pakistan and the Kuwait Fund for Arab Economic Development (KFAED) for the Mohmand Dam Hydropower Project, said a release issued here Friday.
The agreement was signed by Muhammad Humair Karim, Secretary, Ministry of Economic Affairs, on behalf of the Government of Pakistan.
The ceremony was attended by Mr. Fahad Hesham H. A. S. Aldousari, Deputy Head of Mission, Embassy of the State of Kuwait, Senior officials from Ministry of Economic Affairs and WAPDA.
While speaking on the occasion, the Secretary, Ministry of Economic Affairs, expressed profound gratitude to the Government of the State of Kuwait and KFAED for their continued support to Pakistan’s development agenda. Karim stated that this concessional financing reflects the brotherly relations and enduring partnership between Pakistan and Kuwait.