KFAED lays foundation for al-Qaisamani Dam project in Lebanon

The cornerstone for Al-Qaisamani Dam project in the southern Al-Matan area took place Wednesday with more than an 80 percent contribution from the Kuwait Fund for Arab Economic Development (KFAED). The opening ceremony for the dam in Falgua town was attended by Lebanese Minister of Energy and Water Jebran Bassil, KFAED Director General Abdulwahab Al-Bader, President of the Reconstruction and Development Council Nabil Al-Jassir, and other high ranking Lebanese officials and parliament representatives. The project is one of two financed by KFAED valued at a total USD 165 million. Marking the occasion, minister Bassil expressed his thanks to Kuwait, through the KFAED, for its contribution to this project, which was concieved back in 1993. Bassil revealed that such a project will be built according to international standards. He added that Lebanon has two resources that should be politically, economically, and financially taken advantage of, water and oil. The Lebanese minister stressed the importance of utilizing such resources and boosting the political, economic, and financial stability of the country. For his part, Al-Bader expressed his delight at participating in this event noting that the development project was vital for Lebanon. The KFAED chief went on to say that the project was important to confront drinking water shortages in the country, noting that 35 villages will benefit from it