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  HE GCCSG: Great Efforts are Being Made by the Kuwait Fund for Arab Economic Development in Financing Vital Projects that Enhance Regional and Global Infrastructure

General Secretariat – Kuwait

His Excellency Mr Jasem Mohamed Albudaiwi, Secretary General of the Gulf Cooperation Council (GCC), said that the Kuwait Fund for Arab Economic Development (KFAED) is making great efforts to finance vital projects that enhance infrastructure in the region and the world.

This came on Thursday (June 13, 2024) at the Fund’s headquarters in the State of Kuwait, during His Excellency’s participation in the signing ceremony of the financing agreement for the project to develop the Gulf electricity interconnection system and the Gulf electrical interconnection to the southern Iraq network between KFAED and the GCC Interconnection Authority (GCCIA), in the presence of His Excellency Mr Abdullah Ali Al Yahya, Minister of Foreign Affairs and Chairman of the Board of Directors of KFAED, and Eng. Ahmed Al Ebrahim, CEO of the GCCIA, and a number of diplomats and officials.

On the occasion, HE the Secretary General praised the effective and valuable role played by the GCCIA in enhancing the joint connection of electricity infrastructure between the GCC countries and southern Iraq, pointing out the importance of this step in achieving economic integration and sustainable development between the GCC countries and the Republic of Iraq.

His Excellency also commended the great efforts made by the KFAED in supporting this vital development project, stressing that this agreement aims to develop the electrical interconnection system with southern Iraq, and represents an important step forward in accelerating the implementation of this project, which contributes to enhancing economic and social stability in the region.

His Excellency concluded his statement by emphasising the importance of continued cooperation between all concerned parties to achieve common goals and enhance the benefit of the energy resources available in our countries for the benefit of all the peoples of the region.