KFAED, Palestine sign agreement for Gaza reconstruction program

KUWAIT, April 7 (KUNA) -- The Kuwait Fund for Arab Economic Development (KFAED) will administer a USD 200 million grant offered by the State of Kuwait to the Reconstruction Program of the Southern Provinces in Palestine (the Gaza Strip).
KFAED Director-General Abdulwahab Al-Bader and Palestinian Prime Minister's Advisor for Arab and Islamic Funds affairs Jawad Naji Hirzallah signed here on Tuesday an agreement for the utilization of the Kuwaiti grant, the Fund said in a press statement.
The program aims at alleviating the impact of the most recent Israeli aggression on Gaza through reconstruction of destroyed housing units and rehabilitation of affected infrastructure, roads and water and sanitation networks, it added.
It also includes reconstruction of economic activities' infrastructure in the building, contracting, and agriculture sectors.
The program, expected to be completed over three years, includes consultancy services.
According to the statement, KFAED is a longstanding development partner of Palestine, and previously supported the peace process in the Middle East in the year 2000 through a grant totaling USD 25 million, fully disbursed.
It is also managing three Kuwaiti grants totaling USD 315 million, out of which USD 155 million that was disbursed on 29 March 2015.
In addition, the Fund represents the State of Kuwait in the committees responsible for managing the Aqsa and Holy Jerusalem Funds established pursuant to the Arab summit resolutions in Cairo, October 2000. (end) fnk.abd.msa