Official highlights His Highness the Amir's initiative to invest in Africa

CAIRO, Aug 31 (KUNA) -- A senior Kuwaiti official has lauded the initiative launched by His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah during the 3rd Africa-Arab Summit for the development on the continent.
The initiative has been commended by both the Arab and the African sides, Kuwaiti Finance Ministry's Arab and Gulf Economic Cooperation Department Yusuf Al-Roumi told KUNA.
Al-Roumi made the statement after he led the Kuwaiti delegation to the 98th session of the Economic and Social Council of the Arab League in Cairo on the level of the senior officials, on Wednesday.
He reiterated Kuwait's commitment to following up the implementation of the resolutions taken by the summit.
During the summit Kuwait hosted in November 2013, His Highness the Amir announced USD one billion in soft loans to African countries over the next five years. He stressed determination to coordinate with world financial institutions to invest one billion more in Africa's infrastructure.
As for today's meeting, Al-Roumi said that the recommendations of the committees that met for two days, as well as of the senior officials' meeting, were referred to the council's ministerial meeting to be held on Thursday.
These are topped with the Arab League's Secretary General on the follow-up of implementing the resolutions made by the council's former session, and the economic and social file of the 4th Arab-Africa summit slated for November in Malabo, capital of Equatorial Guinea. (end) mfm.aff.msa