KFAED participates in BADEA annual meetings to boost int'l coop.

KUWAIT, May 27 (KUNA) -- Kuwait Fund for Arab Economic Development (KFAED) participated on Monday in the Arab Bank for Economic Development in Africa (BADEA) annual group meeting in Nairobi, Kenya, in between 27 and 31 of May to boost international cooperation.

In a press release, KFAED said that it is partaking in the 59th meeting of the Board of Governors of the African Development Bank and the 50th meeting of the Board of Governors of the African Development Fund under the slogan (Transformation of Africa and the African Development Bank Group and Reform of the Global Financial Structure).
It added that the meetings aim to enhance the discussion on reforming the global financial structure to support Africa's transformation and sustainable growth on the continent, and that the meetings focus on the issue of African debt as one of the main points of the discussions.
It also seeks to discover ways of motivating private funding, locally and internationally, providing natural capital and promoting the transition towards green growth in Africa.
KFAED extends loans on concessionary term to finance development projects in the developing countries. It also provides technical assistance to finance the costs of the feasibility studies of projects, as well as the training of nationals of the borrowing countries. In addition, the Fund subscribes to the capital of international and regional development institutions. (end) md.bb.