Kuwait Times, Sat, May 25, 2024 | Dhu al-Qadah 17, 1445
Kuwait investments in Africa valued at $28 billion
Kuwait:
The dean of the African diplomatic corps and Ambassador of the
Republic of Togo, Mohamed Ouro, praised on Wednesday the pioneering role
undertaken by the Kuwait Fund for Arab Economic Development and aid for
development in 51 African countries. The ambassador was speaking to KUNA after
partaking in a seminar organized by the Kuwait Diplomatic Institute, titled
“Sixty Years of Kuwaiti-African Relations,” attended by the Foreign Minister’s
assistant for Institute Affairs, Ambassador Nasser Al-Sebeeh, and heads of
foreign diplomatic missions.
Ambassador Ouro said Kuwaiti-African relations are distinguished by brotherly
and strong bonds based on fruitful cooperation, citing the endorsement of
various accords and visits’ swaps by senior officials and diplomats. The cordial
dialogue organized by the institute on the 60th anniversary of the distinguished
ties is a good opportunity to examine means of fostering these relations
further, he said.
Kuwaiti Foreign Minister’s Deputy Assistant for African Affairs Naif Al-Mudhaf
said Kuwait hosts 34 African diplomatic missions, the largest entity in the
sector in the country. Kuwait, for its part, maintains up to 17 missions on the
African continent. He valued Kuwaiti investments in Africa at $28 billion and
the trade exchange volume at more than $10 million. KFAED, for its part, has
contributed 500 loans worth $10 million to fund development projects in Africa.