KFAED, Mongolia sign $8m grant agreement

Finance for Burn Center

The two sides signing the loan agreement

KUWAIT CITY, May 23: An Amendment Grant Agreement was signed today in Kuwait between the Government of Mongolia and Kuwait Fund for Arab Economic Development, whereby the Fund will allocate from the Grant Agreement No. 31 an amount of $8,000,000 to assist in the financing of the National Burn Center of Traumatology and Orthopedics Project in Mongolia.

The Amendment Agreement was signed on behalf of Government of Mongolia by His Excellency H.E. Munkhbat Jamiyan, Member of Parliament, Minister of Mongolia and Head of the Cabinet Secretariat of Government, whereas Abdulwahab Al-Bader, Director-General of the Kuwait Fund for Arab Economic Development signed on behalf of the Fund.

The Project is for the construction the National Burn Center of Traumatology in Ulaanbaatar, the capital of Mongolia that will provide specialized comprehensive medical services for burns, freezing and rehabilitative surgeries at national level in Mongolia. The building exterior design shall reflect aesthetic Mongolian culture.

The Project is composed of technical inspection and civil works supervision and certification of work progress, Civil construction works for the buildings including the procurement, installation and test running of all fixtures, electromechanical works for the buildings, including the procurement, installation and test running of all fixed items, including central heating and lifts and procurement and installation of Project equipment and furnishings. The Project is expected to be completed by December 2018. The total cost of the Project is about $10 million. The Kuwait Fund contribution will be about US$ 8 million and the Government will finance the rest of the cost of the Project.

The Fund has already provided the Government of Mongolia with 4 Loans to finance projects in different sectors. The total value of these loans was KD 23.972. The Fund also provided the Government of Mongolia with two technical assistance grants amounting to KD 433,569 for financing the feasibility studies of Erdanet-Moron Road Project and Taishir Hydropower Project.