M.Enkhbold meets Kuwait Fund leaders

Ulaanbaatar /MONTSAME/ The Chairman of the State Great Khural, Mr M.Enkhbold started his official visit to Kuwait on December 20. He was welcomed by Speaker of the National Assembly of Kuwait Marzouq Al-Ghanim at the Kuwait International Airport.

On the first day of the visit, the Director General of the Kuwait Fund Abdulwahab Al-Bader paid a courtesy call on Speaker M.Enkhbold. The fund is working with more than 160 countries and provided easy term loans in total value of USD 1.9 billion this fiscal year, introduced Mr Al-Bader and gave more details about the fund operations.

“Our countries share almost 20 year history of relations. The cooperation has been slowing down in the recent years, with unsettled matters. Although, our side has allocated USD 12 million for the construction of parliament house, the Mongolian cabinet has notified us of its intention to earmark the funds to building a children’s hospital. From the latest update, we were notified that funds will be dedicated to the construction of a Burn Treatment Center. Also, the investment for the Shuren Hydropower Plant has not been resolved. Our side has been expecting the feasibility study from Your side once we had completed related studies” said Mr Al-Bader and expressed interest in furthering cooperation in the road, transport and energy.

The government and people of Mongolia are always grateful for the contributions of Kuwait in the road, transport, energy and humanitarian sectors and for the implementation of major projects, in a relatively short term of cooperation history, said Mr Enkhbold and added that he supports the decision to dedicate the funding to improving public healthcare. He also said that the investment for Shuren Hydropower Plant project would be resolved by the cabinet in an approximate future. A program has been prepared to overcome the economic difficulties facing Mongolia, he went on.

“In order to accomplish this mission, the support of international banking and financial organization and close partners is crucial for Mongolia.

Moreover, I believe, our country affords opportunities of cooperation with the Kuwait Fund in mining, agriculture, tourism and many other sectors, he said and invited leaders of the Kuwait Fund to visit Mongolia and get familiar with the cooperation possibilities in person.

Mr Al-Bader accepted the invitation and promised to study the possibilities to implement projects through the Fund, and expressed his hope that the Government would make a positive decision about the loan and financial aid.

Mongolia and Kuwait established diplomatic ties in 1975. The Kuwait Fund allocated loans of USD 58.2 million for the project on building of roads connecting, Darkhan and Erdenet, Erdenet-Bulgan-Unit, Unit-Tarialan, USD 19.8 million for developments at the Taishir Hydropower Plant. During the dzud disaster occured in 1999-2000 winter, the fund rendered non-refundable aid of USD 500.0 thousand. His Highness the Amir has donated USD 276.6 thousand for purchasing medical equipment for the central hospital of Khentii.