As Kuwait Offers $1 Billion Soft Loans For Afric.…Vp Sambo Says Cooperation For Development And Investment Key In Afro-Arab Relations


SAMBO-300x213As the State of Kuwait announces one billion dollars soft loans to be accessed by African countries through the Kuwait Fund for Economic Development, Vice President Arc Mohammed Namadi Sambo has said that cooperation for development and investment is key if the peoples of Africa and Arab countries are to positively feel the impact of the relationship of the two regions.

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The Vice President stated this while commenting on the two day 3rd Africa-Arab Summit, which opened Tuesday at the Al-Tahrir Conference Building in the Bayan Palace, in the City of Kuwait, the capital of the State of Kuwait.
The Vice President, disclosed that the discussions held as the Summit officially opens were fruitful for the continued cooperation between the African nations and the Arab countries, saying “the key subject is cooperation for development and investment between our nations,” he therefore observed that “Africa and the Arab nations for thousands of years have been relating in various trade issues.”
Arc Sambo noting the slowness of the impact of the outcome of the Summit launched in 1977, on the lives of the peoples of the two regions, expressed optimism of better times ahead as he said “we have agreed from now on that the subject of development, trade and investment will be the key factor in the interest of the peoples of Africa and the Arab countries.”
In his opening remarks the Amir of the State of Kuwait, and the Chairman of the event, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, disclosed that in recognition of the strategic importance of Africa, the Kuwait Fund for Economic Development would  offer soft loans to African countries  in the amount of one billion dollars during the next five years.
Speaking also the Chairman of the African Union and the Prime Minister of Ethiopia, and also the Co-Chair of the Summit, Hailemariam Dessalegn, dwelt on the issue of migration, saying that it was an urgent global issue that needed joint responsibility to be resolved between the Arab and African regions.
Part of the Nigerian delegation to the Summit were, Senator Mohammed Magoro, Chairman Senate Committee on National Security and Intelligence, Minister of Foreign Affairs, Prof Viola Onwuliri,  the Special Adviser to the Vice President on Special Duties, Senator Isaiah Balat, Special Adviser to the Vice President on Political Affairs, Alhaji Abba Dabo, among other top government officials.
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Babatunde Akinsola
Babatunde Akinsola
Babatunde Akinsola is aNaija247news' Southwest editor. He's based in Lagos and writes on the Yoruba Nation political issues, news and investigative reports

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