According to Waleed Al-Bahar, the acting Director General of the Kuwait Fund for Arab Economic Development (KFAED), the institution has disbursed nearly KD 7.46 billion (USD 24.42 billion) in loans and grants as of July of the previous year. Speaking on Tuesday, Al-Bahar emphasized the Fund’s role in strengthening international collaboration through economic partnerships, infrastructure investment, and capacity-building initiatives in recipient nations. r nHe described KFAED as a reliable development partner, recognized for offering favorable loan terms, technical expertise, feasibility assessments, and human resource training, all contributing to durable diplomatic and economic relationships. r nAl-Bahar highlighted that Kuwait, through the Fund, has consistently pursued global stability by addressing poverty, joblessness, and food insecurity at both regional and international levels. Since its inception in 1961, the Fund has served as a key instrument of the state’s humanitarian and developmental outreach, particularly in conflict-affected and disaster-hit regions, working alongside United Nations agencies and other global bodies. r nProject selection follows established Fund guidelines and aligns with the priorities of beneficiary countries, supporting the United Nations’ 2030 Agenda for Sustainable Development. This agenda targets pressing global issues including inequality, climate change, environmental decline, hunger, and poverty, with the overarching goal of fostering peace and planetary well-being. r nRegional support remains significant, with Arab nations receiving KD 316.35 million (USD 1.03 billion). Additionally, KFAED allocated KD 125.91 million (USD 412.21 million) in grants and technical support to international organizations. r nOne major infrastructure initiative includes a KD 70 million (USD 229.1 million) contribution to the Wafra power station project, developed in coordination with the Gulf Interconnection Authority for GCC countries. This investment aims to reinforce national power grids and ensure uninterrupted energy supply under all conditions. r nDomestically, the Fund has facilitated overseas investments for Kuwaiti enterprises, committing approximately KD 588 million (USD 1.92 billion), with a focus on environmentally sustainable ventures. A notable example is the joint project with UN-Habitat titled “Improved Resilience to Transboundary Sand and Dust Storms in Kuwait and Southern Iraq.” r nImportantly, the Fund operates independently of the national budget, sustaining its activities through returns on global investments and interest earned on loans.
— news from Kuwait News Agency
— News Original —
The Fund… Kuwait’s generous arm
Report by Mohammad Al-Mutairi r nKUWAIT, Aug 19 (KUNA) — With a total of almost KD 7.46 billion (USD 24.42 billion) in loans and grants as of last July, Kuwait Fund for Arab Economic Development (KFAED) has been playing a pivotal role in fostering cooperation with global partners, said the Fund ‘s chief on Tuesday. nBe it contributing to capital, forging economic partnerships, or supporting investment-driven infrastructure, the Fund is appreciated as a “trustworthy partner” by many, opening doors for stable and sustainable relations through robust diplomatic ties with beneficiary countries in the form of easy loans, technical support, feasibility studies and training of human resources in such countries, said KFAED ‘s acting Director General Waleed Al-Bahar. nHe told KUNA that in its capacity as a responsible and benevolent grantor, Kuwait has always sought global stability by means of fighting poverty, unemployment, and achieving food security on regional and global scales. nKeen on developmental and economic integration in a humanitarian manner, the Fund — since its establishment in 1961 — acts as the State ‘s arm in providing support for war-torn and disaster-stricken countries in coordination with relevant UN and international agencies, Al-Bahar noted. nHe pointed out that landing on a project is governed by the Fund ‘s criteria, along with priorities of beneficiary parties, all in support of the 2030 UN Sustainable Development Goals, which aim to achieve peace and prosperity for people and the planet by addressing critical global challenges such as poverty, hunger, inequality, climate change, and environmental degradation. nWhile Arab countries ‘ share reached KD 316.35 million (USD 1.03 billion), KFAED ‘s grants and technical assistance to international organizations totaled KD 125.91 million (USD 412.21 million), he added. nThe Fund also contributed to financing the Wafra station project in cooperation with the Gulf Interconnection Authority for the Arab Gulf Cooperation Council countries, at a value amounting to KD 70 million (USD 229.1 million) in order to strengthen the national electrical networks and ensure the sustainability of electrical energy at all times and circumstances. nLocally, the Fund provided some KD 588 million (USD 1.92 billion) in investment ventures overseas for Kuwaiti companies, especially in green projects — most notably the “Improved Resilience to Transboundary Sand and Dust Storms in Kuwait and Southern Iraq,” in collaboration with UN-Habitat, Al-Bahar concluded. nThe Kuwait Fund self-finances itself from its own profits from loan interest and its investments around the world, without forming a burden on the State ‘s general budget. (end) r nmd.hb