Bahrain and AFESD sign agreement on electricity and water

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa signed yesterday a guarantee agreement between the government of the Kingdom of Bahrain and the Arab Fund for Economic and Social Development (AFESD).

Under the agreement, the fund shall provide soft funding for the project of establishing a new control centre for monitoring and controlling the electricity and water networks with a value of 10 million Kuwaiti dinars (BD12 million).

The project aims to meet the Kingdom’s growing need for electricity and water generation, transmission and distribution services. The agreement was also concluded by the Minister of Electricity and Water Affairs, Wael bin Nasser Al Mubarak, and Chief Executive of the Electricity and Water Authority, Shaikh Nawaf bin Ibrahim Al Khalifa.

On AFESD, it was signed by its Director-General and Board Chairman, Bader Mohammed Al Sa’ad. Speaking during the occasion, Shaikh Salman stressed Bahrain’s resolve to press ahead with economic development to achieve the desired goals.

He affirmed the need to build on previous achievements brought about under the comprehensive development march led by His Majesty King Hamad bin Isa Al Khalifa, and the support of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister.

The minister pointed out the significance of supporting the infrastructure projects given their role in promoting sustainable economic growth. He lauded, in this context, the role of the AFESD in supporting development projects in Arab countries.