Kuwait Loans Ghana $158 M

Mohammed Hussien Alfailakaw, Kuwait’s Ambassador to Ghana, has disclosed that the Kuwait government has loaned $158 million to Ghana to undertake various projects.

He said the loans are to help Ghana manage its energy, water and sewerage sectors, construct hospitals, schools, roads and develop and revive lakes.

Hussien Alfailakaw made this known at the celebration of the 52nd National Day of Kuwait and the 25th Grand National Liberations Day in Accra recently.

He said loans granted to Ghana through the Kuwait Fund for Economic Development are interest-free.

The Ambassador said Kuwait continues to grant a number of interest-free loans to Ghana, stating that Kuwait recently granted $24 million to Ghana to help build and upgrade 26 Senior High Schools (SHSs).

“On the humanitarian front, the charitable and humanitarian institutions and organization have also contributed immensely through the contributions of philanthropists from the people of Kuwait in building schools, clinics, mosques, orphanages, as well as boreholes in Ghana,” Hussien Alfailakaw said.

He said the diplomatic ties between the state of Kuwait and Ghana dated as far back as 1974.

“The diplomatic relationship between the two countries had been steadily and continuously growing,” Hussien Alfailakaw said.