Mongolian President honors KFAED with prestigious ‘Friendship’ award

• His Excellency Ukhnaagiin Khürelsükh, President of Mongolia, and Waleed Albahar, Acting Director of KFAED, discussed plans to collaborate on infrastructure, renewable energy, and construction projects in the new city of Kharkhorum, Mongolia.

• Cooperation between the Kuwait Fund for Arab Economic Development and Mongolia began in 1998, leading to successful infrastructure, energy, and construction projects through KFAED loans and grants.

His Excellency Ukhnaagiin Khürelsükh, President of Mongolia, awarded the “Friendship” State Honor to the Kuwait Fund for Arab Economic Development (KFAED) in recognition of its significant contributions to strengthening relations and cooperation between Mongolia and Kuwait.

The medal was received by Waleed Albahar, Acting Director of the KFAED, during a ceremony at the State Palace of Mongolia on October 7. The Mongolian President met with Waleed Albahar, Acting Director of KFAED, following the award ceremony. They discussed plans to collaborate on infrastructure, renewable energy, and construction projects in the new city of Kharkhorum, Mongolia.

The cooperation between KFAED and the Government of Mongolia began in 1998. Since then, the two sides have successfully implemented various infrastructure, energy, and construction projects in Mongolia, utilizing concessional loans and grants from the KFAED.

These projects include a $58.26 million concessional loan from 1996-2010 for the construction of a 742 km paved road, a $19.78 million concessional loan for the construction of the Taishir hydropower plant in 2004, an $8 million grant for the construction of the National Burn Center of Mongolia in 2017, and a $3.5 million grant for the renovation of Undurkhaan Airport in Khentii Province, Mongolia.