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Kuwait, Arab funds offer easy loans to Bahrain''s water network.

| MANAMA, Feb 7 (KUNA) -- Bahrain Tuesday signed two agreements with two Kuwaiti-based funds to finance the development of a fresh water network.

Manama signed the two easy loan agreements, valued 56.2 million Kuwaiti Dinars (KD), with the Arab Fund for Economic and Social Development (AFSED) and Kuwait Fund for Arab Economic Development (KFAED).

The agreements is part of Bahrain's bids to provide necessary funding to develop the water network, a project that costs 243 million Bahraini dinars (BD).

A statement said the project would honor present and future fresh water needs.

The project, it added, aimed at boosting production of current water pumps and building new pumps, as well as constructing new pipelines to carry more water.

AFSED will offer KD 30 million while KFAED to contribute with KD 26.2 million.

Bahraini minister of finance Sheikh Ahmad Al-Khalifa said the project would contribute directly to boosting efficiency of the water network.

Minister of energy Abdulhussein Merza said Bahrain was following a strategy to develop the water infrastructure until the year 2020.. (end) KUNA 072025 Feb 12NNNN

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Publication:Kuwait News Agency (KUNA)
Geographic Code:7BAHR
Date:Feb 7, 2012
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