Kuwait fund okays loan for key Bosnian projects

Kuwait signed a three million Kuwaiti dinar initial agreement with the Bosnian government to finance a number of infrastructure and development projects in the war-devastated southern Bosnian city of Mostar.

The agreement, signed by the Kuwait Fund for Arab Economic Development and the Bosnian government, is part of a 50 million Kuwaiti dinar total loan.The fund will help in the reconstruction of Bosnia-Herzagovina.

Misdra Kikanovic, an advisor at the Bosnian Trade and Economy Ministry who signed the agreement, praised Kuwait's continued support to Bosnia on both the political and economic levels, saying that, "The Bosnians have been making the utmost efforts to reconstruct their country's infrastructure."

Kikanovic said the Kuwait fund has been playing an outstanding role in repairing the Bosnian economy and in contributing in the construction of projects and sites that have been totally destroyed during the Bosnian war.

He also thanked the fund's expert teams who have been assigned to come to Bosnia to offer their assistance.

Walid Al Saif, the fund's representative who signed the agreement, said during the signing ceremony that Kuwait was keen on supporting Bosnia's construction plan at the directives of the Amir, the crown prince and the prime minister.

The fund's contribution, he said, "this time in reconstructing Mostar city especially the historic bridge comes within the strong cooperation linking Kuwait with Bosnia."

The fund's team is currently studying additional projects to finance in the future.