Azernews.Az

By Aynur Jafarova

Kuwait intends to invest in the hydropower sector of Tajikistan, Director General of the Kuwait Fund for Arab Economic Development Abdulwahab Al-Bader said during a meeting with Tajik President Emomali Rahmon who was on a visit to Kuwait June 23-24.

He cited the Kuwait Fund's readiness to invest in the project on reconstruction of a spillway tunnel of the Baipaz hydropower plant as well as the construction of the Shurab and Nurabad hydropower plants and other projects.

During the meeting the sides noted that $17 million of the total amount of foreign loans allocated for the reconstruction of the Kulyab-Darvaz highway belongs to the Kuwait Fund.

The sides also discussed further cooperation in the energy sector, road construction, mining industry, light and food industries, agriculture and tourism.

Kuwait Fund extends loans on concessional terms to finance development projects in the developing countries. The Fund also provides technical assistance to finance the costs of feasibility studies on projects, as well as the training of nationals of the borrowing countries.

During President Rahmon's visit Tajikistan and Kuwait signed a package of documents, notably, an agreement on visa waiver for persons with diplomatic, special and service passports, an agreement of cooperation in culture and art, an agreement on cancelling double taxation and prevention of evasion from tax payments for loans and incomes, as well as an agreement on cooperation in the tourism sector and in healthcare.

A memorandum of cooperation between the Tajik government and the Kuwait Fund was among the signed documents as well.

Rahmon also met with Kuwait's Prime Minister Sheikh Jaber Al-Mubarak Al-Sabah. Discussions covered expansion of trade-economic and investment cooperation. The implementation of regional projects in road construction, hydropower plants, assistance to the social-economic revitalization and rehabilitation of peaceful life in Afghanistan were among the discussed issues.

During his visit, Rahmon attended the opening of the Tajik embassy in Kuwait.

Rahmon also participated at a business forum of Tajik and Kuwait entrepreneurs. During his speech the Tajik President urged Kuwaiti businessmen to visit Tajikistan and to get familiar with the investment climate in the country.

During the business forum the chambers of commerce of the two countries signed a protocol on cooperation.