Bahrain, KFAED sign two agreements

Two agreements were signed between the Government of the Kingdom of Bahrain and the Kuwait Fund for Arab Economic Development (KFAED), providing financing worth $ 39 million for community welfare projects in Bahrain. 
Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa and Abdulwahab A. Al Bader, Director General of the Fund, signed the agreements on the sidelines of the Joint Meetings of the Arab Financial Institutions in Rabat, Morocco,
The first agreement provides $19 million to finance the Community Welfare Complex at Hamad Town, which comprises 4 social care centres and aims to provide succour and shelter to target groups.
A $20 million Comprehensive Community Services Complex at Isa Town will be financed through the second agreement. The project aims to improve the quality of social services provided to people with special needs and the elderly, as well as raising awareness among citizens on how to deal with people belonging to these two categories.
The Minister referred to the projects as a clear demonstration of the keenness of the Bahrain Government to cement the social aspect of its financial policies, and the development process as a whole. He commended their positive impact on a wide range of sectors of society and their crucial role in enhancing the values of sympathy and solidarity.
He expressed deep gratitude for the sustained support extended by Kuwait to the development process in Bahrain. 
The agreements represent the final portion of Kuwait’s $2.5 billion grant to Bahrain within the Gulf Development Programme. Allocations in this respect included $996 million for housing projects, Electricity & Water ($940 million), Roads ($334 million), Sewerage ($136 million), Social Development ($62 million), and Industry ($32 million). 

Source: BNA