Vienna, Austria – Prime Minister (PM) Jeremiah Manele has met with the Acting Director General of the Kuwait Fund for Arab Economic Development (KFAED), Mr. Waleed S. Al-Bahar, to re-establish development cooperation and explore new areas of partnership.

The bilateral meeting took place on the margins of the OPEC Fund Development Forum in Vienna this week. 

Prime Minister Manele acknowledged the Fund’s long standing relationship with Solomon Islands, which began more than 30 years ago, and welcomed the opportunity to strengthen ties.

“Solomon Islands and the Kuwait Fund have had a long-standing history of cooperation. In the past, you were involved in funding airport and road infrastructure in our capital, Honiara,” the Prime Minister said. 

“We would like to explore opportunities again with the Kuwait Fund.”

The Prime Minister noted that Solomon Islands is re-engaging with KFAED  after more than 30 years.  He requested an update on the Fund’s current areas of focus and assistance modalities.

Mr. Al-Bahar reaffirmed Kuwait Fund’s commitment to supporting Solomon Islands and recalled the Fund’s first involvement in 1983, when it provided technical assistance for a feasibility study of Henderson Airport. 

Following that study, the Fund financed the airport’s development and later contributed to Honiara road infrastructure projects.

He confirmed the Fund remains open to supporting infrastructure, education, and health sectors and can provide soft loans for development projects. Additionally, he offered grant-funded technical assistance to help Solomon Islands prepare feasibility studies.

He proposed either a virtual meeting between technical officials or a visit by a Solomon Islands delegation to Kuwait as the next step in the discussions.

“We are very keen to continue this cooperation,” he added. “We are ready, Your Excellency—just send the request and the feedback will be very quick.”

Prime Minister Manele welcomed the proposal, confirming that the Ministry of Finance and Treasury, in close coordination with the Ministry of National Planning and Development Coordination, will lead efforts to advance discussions with the Fund.

“Upon my return, I will brief the Cabinet and Caucus. We have a number of priorities, including economic and social infrastructure such as health and education,” the Prime Minister said.

Both parties expressed mutual interest in reactivating cooperation, aiming to identify feasible projects for support in the near future.

On Public Debt and Financing

The Government for National Unity and Transformation wishes to reassure its people that discussions with development partners such as the Kuwait Fund are exploratory at this stage, with no borrowing or new debt commitments made.

The country’s public debt remains within sustainable levels, currently below our national threshold of 35% Debt to GDP ratio.

The government remains committed to prudent fiscal management, ensuring that any future borrowing is transparent, concessional, and carefully aligned with the nation’s long-term development priorities to avoid placing undue burden on future generations.

– OPMC