Kuwait has agreed to finance a 450-megawatt power plant in Chittagong and sell fuel on deferred payments of 180 days as requested by Bangladesh.
Kuwait also agreed to cooperate in energy sector and infrastructure development and recruit more manpower from Bangladesh.
Bangladesh buys petroleum products worth $1.5 billion annually. It imported 1.84 million metric tons of refined fuel from July 2005 to April this year.
Kuwait also released funds for construction of the third Karnaphuli Bridge in Chittagong and Teesta Bridge in Kurigram.
The agreement and assurances were made during the official talks between Emir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah and Prime Minister Khaleda Zia at the International Conference Centre (ICC) yesterday.
The summit talks ended with the signing of two accords on foreign ministry level bilateral consultation and exchange of plots for establishing diplomatic missions of the two countries in Dhaka and in Kuwait City.
Foreign Secretary Hemayetuddin and Kuwaiti Under Secretary for Foreign Ministry Khaled Sulaiman Al-Jarallah signed the documents on behalf of their respective governments.
The emir and the prime minister witnessed the memorandum of understanding (MOU)-signing ceremony at the meeting venue.
Prior to the official talks, Al-Sabah and Khaleda had a half an hour tete-a-tete at the ICC from 12:15pm.
"The meeting was excellent and fruitful, covering all areas of cooperation, including energy and power," Kuwaiti Deputy Prime Minister and Foreign Minister Sheikh Dr Mohammad Sabah Al-Salem told reporters.
He said the two sides discussed all aspects of bilateral relations and matters of mutual interest, including OIC affairs.
Al-Salem remarked the visit of the emir to Bangladesh is "memorable and historic as a whole."
Asked about the recruitment of manpower from Bangladesh, the Kuwait FM said Bangladeshi people have been going to Kuwait regularly and Kuwait always welcomes workforce from Bangladesh.
Finance Minister M Saifur Rahman, who was present at the meeting, said Kuwait is a country that has been "continuously extending support and assistance to Bangladesh."
He said the Gulf country agreed to provide funds for setting up a 450-megawatt power plant in Chittagong and the work would start in September.
Saifur said the Kuwaiti side also expressed interest in making investment in Bangladesh's various sectors, including EPZ enterprises, and agreed to extend cooperation in the health sector.
In reply to a question, he said, "Kuwait's door is open for Bangladeshi manpower."
After the bilateral talks, the emir, on the last day of his two-day tour of Bangladesh, signed a visitor's book.
AL-SABAH DEPARTS
Emir of Kuwait Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah left Dhaka yesterday afternoon concluding his two-day state visit to Bangladesh at the invitation of the prime minister.
A hearty send-off was accorded to the monarch and his entourage at the VVIP terminal of Zia International Airport. Prime Minister Khaleda Zia saw off the emir from the VVIP tarmac.
A guard of honour was accorded to the emir while a tiny tot presented him with a bouquet.
Ministers, diplomats, and civil and military high officials were present at the send-off ceremony.
Dhaka was the first stop on the emir's four-nation trip to Bangladesh, Thailand, India and Pakistan.