By Miyoko Ishigami (with photos) GUANGZHOU, China, Feb 13 (KUNA) -- The Kuwait Fund for Arab Economic Development (KFAED) Deputy Director General Hisham Al-Wigayan expressed pride at the level of cooperation with China on Monday.

Al-Wigayan's remarks came during a luncheon held in his honour, hosted by the Kuwaiti Consul General in the Chinese city of Guangzhou, Abdulwahab Al-Sager.

The KFAED deputy chief and several Kuwaiti diplomats were seated together with Chinese trade officials in the leading commercial province of Guangdong.

The province, in which its capital city Guangzhou is located, contributes to approximately 12 pct of China's national economic output, and is home to the production facilities and offices of a wide-ranging set of multinational and Chinese corporations.

Al-Wigayan said this cooperation includes direct loans provided to China for development purposes and opting to select Chinese firms to carry out projects the KFAED is administering, through its loans to developing countries, particularly in Africa.

The two countries are also members of the African Development Bank, in which both are direct supporters, he said.

Al-Wigayan expressed the KFAED's keenness in cooperating with the Guangdong Provincial Government's Ministry of Finance.

For his part, Kuwaiti Consul General Al-Sager was impressed with the level of talks between both sides.

The level of development in the southeastern province was praised by the Kuwaiti diplomat, who also noted to the importance of developing eastern regions of the vast country and investment opportunities it could offer.

The KFAED recently signed a loan agreement worth USD 25 million for the construction of the Guiyang University's library in the city, located in the southern Guizhou Province.

The contributions provided by the State of Kuwait through the KFAED, come as support for development projects for regions across China in the form of easy loans and technical assistance related to these projects.

With the recent loan, the KFAED has so far provided China, since 1985, some 35 loans.