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Kuwait FM refutes reports on funding for foreign countries
03/07/2013 | 09:55 PM | Kuwait News
KUWAIT, July 3 (KUNA) -- The Ministry of Foreign Affairs issued a statement on Wednesday in response to recent comments by former MP Mesallam Al-Barrak to Al-Youm TV channel regarding the loans and grants to developing countries.
The funding by Kuwait Fund for Arab Economic Development (KFAED) for development projects to developing countries fall in the framework of legal measures and controls to ensure regular and timely repayment of the loans and grants.
The State of Kuwait abides by its stated policy for helping the needy countries; KFAED's goals are in consistency with this policy, according to the statement.
On the grants offered by Kuwait to Jordan to the tune of USD 1.25 billion, it said these grants are part of the pledges made by Kuwait during a GCC summit to help sisterly Jordan and Morocco through a five-year development plan.
The statement categorically refuted as inaccurate Al-Barrak's claim that Kuwait ceded USD 500 million of its dues to Iraq.
The settlement reached by Kuwait Airways Corporation (KAC) and the Iraqi government stipulated that Iraq repays the whole sum and KAC writes off the ensuing interest rates; this is what happened and the USD 500 million have been deposited at the Kuwaiti treasury without ceding any penny of the original figure.
Regarding the UN Security Council resolution last month to relieve Iraq of its commitments under Chapter VII of the UN Charter, the statement quoted Deputy Prime Minister and Foreign Minister Sheikh Sabah Al-Khalid Al-Sabah as saying on June 29, 2013, that the UNSC resolutions stem from the Council's convictions and mandate to protect the world security and peace.
Sheikh Sabah sent letters to UN Secretary General Ban Ki-moon and the UNSC President welcoming the Council's Resolution No. 2107-2013 to transfer the mandate formerly assigned to the High-Level Coordinator for Iraq-Kuwait Missing Persons and Property to the UN Assistance Mission in Iraq (UNAMI).
Kuwait is sure about the UNAMI ability to follow up this dossier due to its strong presence in Iraq and close contacts with the Iraqi institutions. Under this resolution UNAMI has to report regularly to the UNSC on the latest developments in this connection, the statement went on.
The resolution reminded Iraq of its commitments under previous resolutions to pay a total of USD 11 billion in damages to Kuwait by the end of 2015.
The debts, cited by Al-Barrak, have nothing to do with the compensations; they could be settled on a bilateral basis and any draft agreement in this connection will be tabled to the National Assembly for endorsement, the statement added. (end) gb KUNA 032155 Jul 13NNNN
http://www.kuna.net....464&Language=en
Thought this was important article as it once again talks about settling things through the bilaterial basis.
Thanks
LIT
03/07/2013 | 09:55 PM | Kuwait News
KUWAIT, July 3 (KUNA) -- The Ministry of Foreign Affairs issued a statement on Wednesday in response to recent comments by former MP Mesallam Al-Barrak to Al-Youm TV channel regarding the loans and grants to developing countries.
The funding by Kuwait Fund for Arab Economic Development (KFAED) for development projects to developing countries fall in the framework of legal measures and controls to ensure regular and timely repayment of the loans and grants.
The State of Kuwait abides by its stated policy for helping the needy countries; KFAED's goals are in consistency with this policy, according to the statement.
On the grants offered by Kuwait to Jordan to the tune of USD 1.25 billion, it said these grants are part of the pledges made by Kuwait during a GCC summit to help sisterly Jordan and Morocco through a five-year development plan.
The statement categorically refuted as inaccurate Al-Barrak's claim that Kuwait ceded USD 500 million of its dues to Iraq.
The settlement reached by Kuwait Airways Corporation (KAC) and the Iraqi government stipulated that Iraq repays the whole sum and KAC writes off the ensuing interest rates; this is what happened and the USD 500 million have been deposited at the Kuwaiti treasury without ceding any penny of the original figure.
Regarding the UN Security Council resolution last month to relieve Iraq of its commitments under Chapter VII of the UN Charter, the statement quoted Deputy Prime Minister and Foreign Minister Sheikh Sabah Al-Khalid Al-Sabah as saying on June 29, 2013, that the UNSC resolutions stem from the Council's convictions and mandate to protect the world security and peace.
Sheikh Sabah sent letters to UN Secretary General Ban Ki-moon and the UNSC President welcoming the Council's Resolution No. 2107-2013 to transfer the mandate formerly assigned to the High-Level Coordinator for Iraq-Kuwait Missing Persons and Property to the UN Assistance Mission in Iraq (UNAMI).
Kuwait is sure about the UNAMI ability to follow up this dossier due to its strong presence in Iraq and close contacts with the Iraqi institutions. Under this resolution UNAMI has to report regularly to the UNSC on the latest developments in this connection, the statement went on.
The resolution reminded Iraq of its commitments under previous resolutions to pay a total of USD 11 billion in damages to Kuwait by the end of 2015.
The debts, cited by Al-Barrak, have nothing to do with the compensations; they could be settled on a bilateral basis and any draft agreement in this connection will be tabled to the National Assembly for endorsement, the statement added. (end) gb KUNA 032155 Jul 13NNNN
http://www.kuna.net....464&Language=en
Thought this was important article as it once again talks about settling things through the bilaterial basis.
Thanks
LIT
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