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Tuesday 22 Dec 2015 - 13:22 Makkah mean time-11-3-1437
President of Benin Yayi (Image from Internet)
Kuwait (IINA) – President of Benin Thomas Boni Yayi has praised Emir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah for launching programs worth a total of $2 billion for development in Africa, KUNA reported.
While chairing the 3rd Arab-African summit in Kuwait in November 2013, the emir launched two programs: $1 billion in easy loans for African countries to be channeled via Kuwait Fund for Arab Economic Development (KFAED), and $1 billion to finance investment in Africa through Kuwait’s Public Investment Authority.
President Yayi made the remarks while receiving Dr Faisal Al-Musaileem, who presented his credentials as the Kuwait’s ambassador to Benin, in a ceremony held at the Presidential Palace in Cotonou – the largest city and economic center of Benin, according to a statement issued Monday by Kuwait Embassy in the West African nation.
Yayi commended the emir’s endeavors to promote relations between Kuwait and African countries in general and with Benin in particular.
It should be mentioned that KFAED has been contributing to development projects in Benin since 1978. Kuwait’s Direct Aid society is also providing assistance for people in need in Benin.
AB/IINA
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