The Kuwait Fund extended a loan worth about US$ 12 million to Vietnam

On March 11, 2016 in Ho Chi Minh City, H.E. Mr. Truong Chi Trung, Vice Minister, Ministry of Finance on behalf of the Socialist Republic of Vietnam and Mr. Hesham Al-Waqayan, Deputy Director General on behalf of the Kuwait Fund for Arab Economic Development (KFAED) signed a Loan Agreement whereby the Kuwait Fund extends a loan in the amount of 3.4 million Kuwaiti Dinar (equivalent to about US$ 12 million) to assist in the financing of the Supply of Medical Equipment for Chau Doc Regional General Hospital Project in An Giang province. The signing ceremony was also attended by H.E. Mr. Omar Al-Qenaei, Consul General, Consulate General of the State of Kuwait in Ho Chi Minh City and Mr. Waleed Al-Bahar, Regional Manager for East South Asia & Pacific Countries of Kuwait Fund.

The Project will provide adequate infrastructure and technical facilities, as well as satisfying the needs for modern medical equipments, specialized diagnostic and therapeutic care services and the Loan provided by the Kuwait Fund will cover about 71% of total Project cost. The Project is expected to be completed by the end of 2018, thus contributing to the improvement of the health status of the populations and meeting the demand for healthcare services of about 1 million people in An Giang province and other surrounding areas.

By signing this loan agreement, since 1979, the KFAED has provided preferential loans for total 14 infrastructure development projects in Vietnam with total capital of about US$ 172 million. These projects helped to improve the living standards of the people in the rural, mountainous and remote areas throughout the country.

Below are some photos taken at the signing ceremony: