TODAY 16/03/2007
THE HONOURABLE MINISTER OF FINANCE AND DEVELOPMENT PLANNING
, DR TIMOTHY T. THAHANE AND DEPUTY DIRECTOR – GENERAL OF
KUWAIT FUND MR HESHAM EBRAHEEM AL-WAQAYAN ARE TO SIGN A LOAN
AGREEMENT BETWEEN THE GOVERNMENT OF LESOTHO AND KUWAIT FUND
FOR CO - FINANCING THE METOLONG DAM WATER SUPPLY PROJECT.
KUWAIT FUND WILL PROVIDE AN AMOUNT OF KUWAIT DINARS 4
MILLION EQUIVALENT TO M102.6 MILLION IN A FORM OF A
CONCESSIONAL LOAN.
KUWAIT FUND HAS BEEN INSTRUMENTAL IN CO-FANANCING THE
PROJECTS IN LESOTHO SUCH AS MOSHOESHOE I INTERNATIONAL
AIRPORT, MASERU WATER SUPPLY PROJECT AND OXBOW MOKHOTLONG
ROAD PROJECT.
THE METOLONG WATER
SUPPLY PROJECT IS VERY IMPORTANT FOR PROVIDING WATER FOR
DOMESTIC AND INDUSTRIAL DEMAND UP TO YEAR 2020 IN THE
CAPITAL MASERU AND THE THREE SURROUNDING TOWNS, NAMELY ROMA,
MAZENOD AND TEYATEYANENG.
OVERALL
WATER SECTOR.
THE OTHER POTENTIAL CO-FINANCIERS OF THIS PROJECT ARE OPEC
FUND FOR INTERNATIONAL DEVELOPMENT, ARAB BANK FOR ECONOMIC
DEVELOPMENT IN AFRICA, UNITED STATES GOVERNMENT , THE WORLD
BANK AND SAUDI FUND.
14 MARCH 2007
SIGNED:…………………………………………………………
PRINCIPAL SECRETARY
MINISTRY OF FINANCE AND
DEVELOPMENT PANNING
|
