LOC10:26
07:26 GMT
KUWAIT, Jan 19 (KUNA) -- Arab leaders, in the draft resolutions of the Arab Economic Summit, called for quickly completing the Arab electrical linkage project and removing all obstacles facing the project in action.
The resolution also called for amending national legislations and legal frameworks in order to facilitate the project, and called on the Arab Fund for Economic and Social Development (AFESD) to provide the required funding for the execution of the Arab electricity linkage in partnership with the private sector.
It underscored the importance of including the private sector in the establishment of an Arab electrical energy market, and tasked the Arab electricity ministers with cooperating with AFESD to place a timeline and mechanism for executing the project, and preparing a periodic report to be presented to the summit on this issue.
As for the railway linkage system, the draft resolution called for launching the project in line with the plan placed by the Council of Arab Transport Ministers and for member states to take steps to adapt their national legislations to remove all obstacles facing the completion of the project.
The resolution also called for placing a financing mechanism for the project based on commercial factors, and allowing the private sector, and Arab, regional and international finance institutions and funds to invest in this project.
It tasked the Arab transport ministers to follow up the implementation of the project and to prepare an agreement to this effect, along with a periodic report on what had been completed in this area. (end) kt KUNA 191026 Jan 09NNNN