Kuwait Fund for Arab Economic Development Completes 15% of Gulf Electric Interconnection

The Gulf countries continue to advance the electrical interconnection project (Asharq Al-Awsat)
The Gulf countries continue to advance the electrical interconnection project (Asharq Al-Awsat)
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Kuwait Fund for Arab Economic Development Completes 15% of Gulf Electric Interconnection

The Gulf countries continue to advance the electrical interconnection project (Asharq Al-Awsat)
The Gulf countries continue to advance the electrical interconnection project (Asharq Al-Awsat)

The Kuwait Fund for Arab Economic Development said that 15 percent of the Gulf electrical interconnection expansion project with Kuwait has been completed until March 2023.

The Authority said in a press statement that the interconnection project between the GCC Interconnection Authority (GCCIA) and Kuwait is one of the essential infrastructure projects approved by the Council to reduce the required reserves among the member states, benefit from the surplus, and reduce the cost of production.

The statement added that the project to establish the Wafra station comes within the expansion projects to connect the GCCIA's network with Kuwait's network through four circuits of 400 kV transmission at a total cost of $270 million to ensure the continuity and sustainability of electrical energy security at all times.

Kuwait will be among the largest beneficiaries of the project, as it will raise the capacity supporting the local electricity network to about 3,500 megawatts. It will also enable the Authority to supply southern Iraq with electric power of 500 megawatts.

The project consists of a double-circuit overhead line with a voltage of 400 kV from the al-Fadili station in Saudi Arabia to the Kuwaiti al-Wafra station, with a length of about 300 km.

It also converts the existing double-circuit line between the al-Fadili and al-Zour stations to the stations, constructing a double-circuit antenna line with a 400 kV length of 25 km.

The project also includes expanding the al-Fadili station by adding electrical circuit breakers to connect it to al-Wafra and extending overhead lines from the latter to stations Sabah 3 and Sabah 4 to connect to the network of Kuwait.

During its last meeting in Muscat, the GCC Advisory and Regulatory Committee on Electricity Interconnection discussed the introduction of some amendments to the general agreement and the energy exchange and trade agreement.

The meeting discussed the Authority's report on the performance and activities of the Gulf electrical interconnection and the need for the advisory and regulatory committee to support and develop its regulatory role.

The committee was briefed on the procedures for transferring the presidency of the Advisory and Regulatory Committee to the next session and the Authority obtaining a license to transmit electricity in GCC countries and granting the GCCIA the status of a trading party in the energy exchange and trade agreement.



Syria, World Bank Discuss Tools to Support Syrian Economic Recovery

People wait their turn in a queue outside an ATM in Damascus on April 16, 2025. (Photo by LOUAI BESHARA / AFP)
People wait their turn in a queue outside an ATM in Damascus on April 16, 2025. (Photo by LOUAI BESHARA / AFP)
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Syria, World Bank Discuss Tools to Support Syrian Economic Recovery

People wait their turn in a queue outside an ATM in Damascus on April 16, 2025. (Photo by LOUAI BESHARA / AFP)
People wait their turn in a queue outside an ATM in Damascus on April 16, 2025. (Photo by LOUAI BESHARA / AFP)

Members of the Syrian government and a delegation from the World Bank discussed in Damascus tools to support Syria's economic recovery, the Syrian foreign ministry said on Wednesday.

Sources told Reuters on Saturday that Syrian officials are planning to attend the annual spring meetings held by the International Monetary Fund and World Bank in Washington, D.C. this month, which would be the first such visit in at least two decades.

Syria has around $15 million in arrears to the World Bank which must be paid off before the international financial institution can approve grants and provide other forms of assistance.

But Damascus is short of foreign currency and a previous plan to pay off the debts using assets frozen abroad did not materialize, according to two people familiar with the matter.

A technical delegation from the World Bank met with Syria's Finance Minister Mohammed Yosr Bernieh on Monday, according to the Syrian state news agency Sana.
The meeting, which was the first public meeting between the Syrian government and the World Bank, included discussions on strengthening financial and economic ties between the two sides.
Bernieh also highlighted the negative effects of the international sanctions imposed on Syria and policies of the former regime on the country's financial and banking sector.