The Arab Fund for Economic and Social Development (AFESD) signed a deal worth KD ten million ($33 million) with Bahrain to fund a water and electricity project.
The deal was signed by Bahrain’s Minister of Electricity and Water Affairs Wael Al-Mubarak, and CEO of Electricity and Water Authority Sheikh Nawaf bin Ibrahim, and Chairman of the Board of Directors of the Fund Bader Al-Saad, local media reports said.
Bahrain’s Minister of Finance Sheikh Salman bin Khalifa said that his country is moving ahead with advancing economic development to meet its aspirations through a comprehensive development process, the reports said.
The establishment of such projects is in line with a vision that serves the country’s interest, he said while praising the role of the fund in supporting development projects in various Arab countries.
Al-Mubarak said that the project contributes to maintaining the service provided by the Electricity and Water Authority in order to achieve the desired goals.
