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Sovereign Wealth Funds Briefing - Categorized | Investment

$1 bln for Africa promised by Kuwait Fund

Posted on 20 November 2013

Kuwait has announced it will give USD1 billion to African countries in the next five years, as dozens of heads of state meet in the country today (November 19) for the third Arab-African summit. His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah said his country’s commitment to forging genuine partnership between Arab countries and Africa.
His Highness said: “I directed officials of the Fund [the Kuwait Fund for Arab Economic Development] to extend soft loans to African countries in the amount of USD 1 billion over the next five years, not to mention investments by a number of Kuwaiti corporations in various sectors.”…………………………………Full Article: Source


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