Kuwait investment in Tunisia to promote ties - Min. Al-Saleh

TUNIS, Nov 29 (KUNA) -- A senior Kuwaiti official said Tuesday investment carried out by Kuwait Fund for Arab Economic Development (KFAED) in Tunisia would further cement bilateral relations and cooperation.
Representative of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, Deputy Prime Minister and Minister of Finance Anas Al-Saleh said since he was assigned by His Highness the Amir to represent him to an international conference to support the economy and investment, he announced KFAED's willingness to extend USD 500 million to fund projects in Tunisia in next five years.
Al-Saleh, also Acting Oil Minister, told KUNA and Kuwait TV that this funding would be generated from KFAED's own resources.
He said relations between Kuwait and Tunisia were old and deep-rooted.
"Kuwait has been investing in Tunisia's tourism and real estate sectors since 1976, while KFAED was financing many development projects since its establishment, and would focus on funding these ventures in the next five years," he said.
The two-day conference that kicked off in Tunis earlier today, aims to attract foreign capital to the country in a serious bid to support economic development and curb the high unemployment rates.
The Tunisian Government said that up to 2,000 delegates are taking part in the conference, representing 14 UN missions, foreign countries and leading international banks, in addition to businessmen.
It added that the event would also see 78 investment projects offered, 34 for the public sector and 44 for the private sector, with estimated total investments of USD 29 billion.
The delegation accompanying Al-Saleh to the conference includes KFAED Director General Abdulwahab Al-Bader, KFAED regional director for the Arab countries Abdullah Al-Saqer and Executive director of the Public Reserve Division at KIA Bader Al-Ajeel. (pickup previous) ksj.bs