Kuwait fund & Mauritania sign loan agreement

The Kuwait Fund for Arab Economic Development (KFAED) has signed a loan agreement in the city of Nouakchott, Mauritania, worth 11 million Kuwaiti dinars (equivalent to USD 37.4 million) to help finance a drinking water distribution network. The loan agreement was signed on behalf of the Mauritanian government by Minister of Economic Affairs and Development Ould Biha Ould Tah while it was signed on the Kuwaiti side by KFAED''s Deputy Director General Hisham al-Waqayan. KFAED said in a press statement today that the project aims to make full use of drinking water to be provided by the coastline project which will provide the city of Nouakchott with the water needed to meet the needs of the population until the year 2030, in addition to the rehabilitation and strengthening of existing distribution networks to cover some new areas. The statement said that the project will contribute to improved living and health conditions of the population and support economic and social development expected, anticipating completion of work on the project at the end of 2015. He added that the project works include the laying of pipes with different diameters as well as household connections, pumps and ground tanks, in addition to ground engineering and technical services which include preparation of tender documents and supervise the implementation and institutional support for the implementation of the project''s management unit.