Ulaanbaatar
Kuwait Fund for Arab Economic Development Awarded the “Friendship” Medal
Politics
Ulaanbaatar, October 8, 2024 /MONTSAME/. President of Mongolia Khurelsukh Ukhnaa received Acting Director General of the Kuwait Fund for Arab Economic Development (KFAED) Waleed S. Al-Bahar on October 7, 2024.
President Khurelsukh noted that the projects implemented in the road, energy, and healthcare sectors with support from the KFAED have improved the socioeconomic development and the quality of life of the citizens of Mongolia and strengthened bilateral relations between Mongolia and the State of Kuwait. The Head of State emphasized that the people of Mongolia highly regard the contributions made by the Kuwait Fund in the implementation of major projects including building a 400 km road, the Taishir Hydroelectric Plant, and the Burn Center of Mongolia, and expressed confidence that the two sides will continue mutually beneficial cooperation on projects and programs.
Acting Director General of the Kuwait Fund for Arab Economic Development Waleed S. Al-Bahar reaffirmed his commitment to actively cooperating with Mongolia on its priority projects and programs and noted the possibility of involving the investment funds of Arabian countries in development projects and programs.
Considering the contributions made by the Kuwait Fund in the economic development of Mongolia through projects and programs in the infrastructure and healthcare sectors and for expanding and developing relations and cooperation between Mongolia and the State of Kuwait, President of Mongolia Khurelsukh Ukhnaa awarded the “Friendship” Medal to the Kuwait Fund for Arab Economic Development.
Mongolia and the KFAED have been cooperating since 1996, during which, five projects in road, energy, and healthcare sectors have been implemented with the funding of USD 76 million. Currently, the two sides are collaborating in the expansion project of the “Undurkhaan” airport in Khentii aimag.
