Bahrain has signed a multi-million dollar agreement with the Kuwait Fund for Arab Economic Development (KFAED).

Bahrain will receive $196 million, as part of the GCC Gulf Development Programme, to construct and revamp the road network leading to the Northern Town, said a report in the Gulf Daily News (GDN), our sister publication.

Finance Minister Shaikh Ahmed bin Mohammed Al Khalifa signed the agreement in Kuwait with the KFAED director general Abdulwahab Ahmed Al Badr.

Work on the project is scheduled to start within the second quarter of this year. New avenues will be constructed and existing ones will undergo major facelift to accommodate the ever-increasing traffic movement and ease road congestion.

It includes three avenues and new flyovers linking the Northern Town to the northwestern regions in Bahrain. The existing 36km road network leading to the town will also be revamped and expanded.

Deputy Premier and ministerial committee for reconstruction and infrastructure head Shaikh Khalid bin Abdulla Al Khalifa stressed the importance of the agreement which bolsters GCC unity and pushes Bahrain-Kuwait co-operation forward.

He paid tribute to His Majesty and the Amir of Kuwait, Shaikh Sabah Al Ahmed Al Jaber Al Sabah for their keenness on strengthening joint relations for the sake of the two countries and their peoples' interests. - TradeArabia News Service