Kuwait Fund: Our overall development, humanitarian contributions [...]

Kuwait Fund for Arab Economic Development (KFAED) held on Sunday a panel discussion at the Australian University (AU) on its contributions and development role around the world.

"The overall development and humanitarian contributions of Kuwait Fund for Arab Economic Development (KFAED), until the end of November 2024, amounted to 1020 development projects with a total value of KD 6.8 million distributed over more than 105 countries around the world", Superintendent of Operations Department for Latin American Countries in KFAED Mr. Nesf Al-Nesf said during his participation at the discussion.

"Some 16 Arab countries benefited from the Fund's concessional loans, in addition to 19 nations from East and South Asia, 17 from Central Asia and Europe, 21 from Central, South, and East Africa, 20 from West Africa, and 12 from Latin America and the Caribbean Sea", added Al-Nesf.

He pointed out that the transportation sector benefited the most from the loans by 33 percent, followed by energy sector by 24 percent, water and sewage by 15.3 percent, agriculture by 10 percent, social by 7 percent, industrial by 6 percent, development banks by 2 percent, communications by 1 percent, and other sectors by 1 percent.

For his part, Mr. Mohammad Al-Shuaib, Senior Media Officer for Journalism, Editing, and Media Programs in KFAED, mentioned, during the event, Kuwait Fund's local role and contributions in backing the housing issue in Kuwait, and cooperation in that vein with the Public Authority for Housing Welfare (PAHW) and Kuwait Credit Bank (KCB).

Al-Shuaib also pointed out the Fund's contributions in reinforcing human development in the country through launching the "Training Newly-Graduate Kuwaiti Engineers and Architects" program, noting that the total number of the program's graduates, since its inception until the end of December 2024, has amounted to over 1000 male and female trainees.

He also talked about Kuwait Fund's efforts during the past 20 years, notably its contributions in bolstering the resources of regional and international development institutions, and achieving sustainable development goals through financing the "Sand and Dust Storm Adaptation and Resilience" project and the "Gulf Electricity Interconnection" project, and its efforts in relieving the displaced ones and refugees around the globe.