African diplomat: Kuwait funds for Africa worth USD four bln

KUWAIT, Dec 5 (KUNA) -- Senegalese Ambassador to Kuwait Abdulahad Ambaki on Thursday lauded the vital role of Kuwait in supporting Africa via the Kuwaiti Fund for Arab Economic Development (KFAED), which financed 324 projects worth about USD four billion.
Ambassador Ambaki said at a press conference held on the occasion of the Africa Day that KFAED established strong ties with Africa under the wise directives of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah by financing projects and programs according to 2063 plan.
He expressed hope for more cooperation for the Kuwaiti private sector to invest in Africa.
The African Union has witnessed many challenges and changes since its inception, although Africa survived to prove to the world that the people on their own could achieve much, added Ambaki.
He pointed out that Africa is rich in resources, such as agriculture and natural resources; however, it suffers from living conditions, where nearly 60 percent of youth are forced to migrate in search for better living conditions.
The African Development Bank and the Arab African International Bank as well as number of committees have helped with security and development advancement of the continent, said ambassador.
In addition, during the 50th anniversary of the formation of the African Union in 2013, the union adopted the African Development Strategy Vision 2063, which includes seven aspirations for a better future for younger generations.
Kuwait is in constant steps to achieve 2035 agenda, under the directives of His Highness the Amir in 2017, he noted.
The African Agenda 2063 aspires in implementing vast projects, such as integrated network of high-speed rail, virtual African university and the establishment of a market for air transport.
Adding the establishment of the free trade zone of Africa to establish the world's largest free trade area since the creation of the World Trade Organization in 1995.
On his part, Egypt's Ambassador to Kuwait Tariq Al-Qouni said that the celebration of Africa Day this year has a special impact on every Egyptian especially that the Egyptian President Abdel Fattah al-Sisi officially take over the post of ceremonial head of the African Union.
The African Union has witnessed a number of regional and international achievements that have contributed to the development within the framework of Egyptian President directives' to continue to expand cooperation between world and Africa, he added.
Egypt has supported infrastructure projects in Africa, especially the Cairo-Cape Town Highway and seeks to Nile River rehabilitation, to increase trade volume with the Nile river basin countries, he noted.
In medical field, Al-Qouni said that numerous initiatives have been launched to promote public health in Africa. (end) mrf.hs