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Amir''s initiative will open new horizons for financing SMEs, dev projects -- Al-Jarallah

Kuwait's Foreign Undersecretary Khalid Al-Jarallah
Kuwait's Foreign Undersecretary Khalid Al-Jarallah
KUWAIT, Jan 19 (KUNA) -- The initiative launched by His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah for financing development projects and small and medium enterprises (SMEs) will open new horizons for supporting these businesses, said Kuwait's Foreign Undersecretary Khalid Al-Jarallah on Monday.
Speaking to KUNA on the sidelines of the Arab Economic Summit, he said His Highness the Amir's announcement during his speech at the inauguration of the summit reflected the requirements of Arabs and their aspirations for better social and living standards.
He hoped the initiative would see positive response and be implemented through the Arab Fund for Economic and Social Development.
His Highness the Amir had announced earlier today the contribution of USD 500 million to an initiative he launched for financing Arab development projects and SMEs.
He also announced a Kuwaiti contribution of USD 34 million to cover UNRWA requirements out of its belief in the humanitarian task of this agency and to assist Palestinians in Gaza. (end) kt KUNA 191722 Jan 09NNNN