Manama, November 22 (BNA) Minister of Finance and National Economy Sheikh Salman bin Khalifa Al Khalifa affirmed Bahrain’s determination to move forward in economic development to achieve the desired goals.
He stressed the need to build on previous achievements made in light of the comprehensive development process led by His Majesty King Hamad bin Isa Al Khalifa, with the support of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister.
The Minister of Finance and National Economy pointed to the importance of supporting infrastructure projects for their role in promoting sustainable economic growth.
In this context, he praised the role of the Arab Fund for Economic and Social Development (AFESD) in supporting development projects in Arab countries.
This came during the minister’s speech during his signing today of a guarantee agreement between the government of the Kingdom of Bahrain and the French Agency for Economic and Social Development.
Under the agreement, the fund will provide soft financing for a project to establish a new control center to monitor and control electricity and water networks, with a value of ten million Kuwaiti dinars.
The project aims to meet the increasing need for electricity and water generation, transmission and distribution services.
The agreement was also signed by the Minister of Electricity and Water Affairs, Wael bin Nasser Al Mubarak, and the CEO of the Electricity and Water Authority, Sheikh Nawaf bin Ibrahim Al Khalifa.
The agreement was signed by the Fund’s General Manager and Chairman of the Board of Directors Badr Muhammad Al-Saad.
AOQ