GCC Interconnection Authority (GCCIA) and Kuwait Fund (Kuwait Fund for Arab Economic Development) have signed a Loan Agreement in the amount of 35 Million KD for Financing the Development of the Gulf Electricity Interconnection System.
The Loan Agreement was signed on behalf of the Kuwait Fund, by H.E. Mr. Abdullah Al Yahya, Minister of Foreign Affairs- Kuwait and Chairman of the Board of Directors of the Kuwait Fund, and on behalf of the GCCIA, by H.E. Eng. Ahmed Al Ebrahim, CEO of GCCIA.
The project aims to strengthen the national electrical networks of the GCC countries and increase reliability to ensure the sustainability of electrical energy at all times, statement mentioned.
