Kuwait Fund for Arab Economic Development (KFAED) signed on Thursday a loan agreement worth KD 7.5 million (USD 25.5 million) with the Republic of Mauritius.
The loan agreement aims to assist in the financing of the construction and equipping of Flacq Teaching Hospital Project “Phase-1” in the Republic of Mauritius, the KFAED said in a press statement.
The project also aims to support the development of the health sector of the Republic of Mauritius, by helping in meeting the increasing demand for modern healthcare services, improving its quality, and securing hospital services and healthcare coverage in the district of Flacq.
It will further provide adequate infrastructure and technical facilities, and meet the needs for modern medical equipment and specialized diagnostic and therapeutic care services, with the aim of reducing morbidity and mortality, thus contributing to the improvement of the health status of the population, which is expected to have a positive impact on the country’s health and socio-economic indicators, it said.
After this agreement, the Fund would have provided to the Republic of Mauritius seven loans, as Kuwait Fund has already made six loans to the Republic of Mauritius in different sectors with a total amount of about KD 15.9 million, the total amount has been paid to the Fund.
The Loan Agreement was signed by Hon. Mohammed Anwar Husnoo on behalf of the Republic of Mauritius, the Minster of Health and Quality of Life, and by Hamad Al-Omar on behalf of the Fund, the Deputy Director-General of the Kuwait Fund for Arab Economic Development.
The Kuwait Fund for Arab Economic Development was established in 1961 with the aim to assist Arab and other developing countries in developing their economies to emphasize Kuwait’s foreign policy and to assure its place internationally.
Source: Kuwait News Agency