A Grant Agreement was signed today in Kuwait between the Federal Republic of Somalia and the Kuwait Fund for Arab Economic Development,  whereby the Fund extend a Grant of US Dollars ten million US Dollars (US$ 10,000,000), of which US$ six million will be allocated to finance the Garowi Airport Project in the Puntland State of Somalia.

The Grant Agreement was signed on behalf of the Government of Somalia by His Excellency Fareh Ali jamea, Minister of Finance and on behalf of the Fund by Hamad Al-Omar – Deputy Director General of Kuwait Fund for Arab Economic Development.

The Project aims to satisfy the demand on local and regional air transport for passengers and goods efficiently and safely in order to contribute in supporting the economic and social development of the country.

The project consists of paving a new runway of about 2200 meters and width of 45 meters and shoulders of about 65 meters on each side, in  addition to passenger terminal building of an area of 1000 meters, consisting of 2 floors to accommodate 120 passengers, control tower with a height of 25 meters on alley perpendicular to the runway with a width of 50 meters, an apron of an area of width of 100 meters, length of 200 meters, lighting system, drainage system, firefighting station, fence with a 2.5 meters, safety equipment, in addition to consulting engineering service for design and supervision for work construction.

It is expected that the execution of the project will start in the last quarter of 2013 and it will be executed in the middle of 2014.

In addition to signing this Grant Agreement, the Fund had extended also to the Federal Republic of Somalia 4 loans to finance projects in agricultural and electric sectors with a total value of KD 28.8 million (i.e. about US$ 98.12 million).  The Fund extended  also to the Federal Democratic Republic of Somalia 2 Technical Assistance Grants with a total value of about KD 674,000 (i.e. about US$ 2.3 million), in addition to Kuwait Government Grant with a total value of about KD 4.23 million (i.e. about US$ 14.3 million)

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A Grant Agreement was signed today in Kuwait between the Federal Republic of Somalia and the Kuwait Fund for Arab Economic Development,  whereby the Fund extend a Grant of US Dollars ten million Dollars (US$ 10,000,000), of which US$ four million will be allocated to finance the Makher University Project in Snage province

The Grant Agreement was signed on behalf of the Government of Somalia by His Excellency Fareh Ali jamea, Minister of Finance and on behalf of the Fund by Hamad Al-Omar – Deputy Director General of Kuwait Fund for Arab Economic Development.

The Project aims to contribute to the development of the high education sector to enable the scientific specialized personnel in different sectors to satisfy the requirements of the work market.  All this will be realized through the construction of university building comprising specialized faculties and attached necessary buildings.

The project consists of establishing university building including building for registration and acceptance, offices for the staff teachers, classrooms, laboratories, playgrounds, restaurants, library, computer rooms, dormitory for students, equipment supply to the university building plus the engineering consulting services for design and supervision of the works.

It is expected that the execution of the project will start in the last quarter of 2013 and it will be executed in the middle of 2014.

In addition to signing this Grant Agreement, the Fund had extended also to the Federal Republic of Somalia 4 loans to finance projects in agricultural and electric sectors with a total value of KD 28.8 million (i.e. about US$ 98.12 million).  The Fund extended  also to the Government of Somalia a Technical Assistance Grant with a total value of about KD 674,000 (i.e. about US$ 2.3 million), in addition to Kuwait Government Grant with a total value of about KD 4.23 million (i.e. about US$ 14.3 million)