Kuwait to provide $32m loan to Pakistan

An agreement between the State of Kuwait and Pakistan was signed on Thursday under which Kuwait will provide additional loan of USD 32 million to Pakistan for Neelum-Jhelum Hydro Power Project, said state owned Radio Pakistan.
Deputy Director General Kuwait Fund for Arab Economic Development Hamad Al-Omar and Pakistan's Secretary Economic Affairs Division Saleem Sethi signed the agreement on behalf of their respective governments in federal capital Islamabad.
"It was a pleasure for him to sign this agreement on behalf of government of Kuwait. Kuwait fund has undertaken a number of development projects in Pakistan and would continue its support," Al-Omar said at the signing ceremony.
Kuwait Ambassador to Pakistan Nawaf Abdul Aziz Al-Enezi along with Pakistan's Finance Minister Ishaq Dar witnessed the signing ceremony. Dar welcomed signing of the agreement saying, "It adds another chapter to Pak-Kuwait economic cooperation."