Under the auspices and attendance of Minister of Foreign Affairs, Chairman, Board of Director of Kuwait Fund for Arab Economic Development His Excellency Sheikh Salem Abdullah Al-Jaber Al-Sabah, Kuwait Fund took part in UN Day celebration, organized by UN House in Kuwait on October 30th 2023.
The event also celebrates the 60th anniversary of the close partnership between the State of Kuwait and UN agencies in the development and peace fields, and honors their joint efforts in boosting sustainable cooperation to achieve development goals and reinforce peace on regional and international domains.
On such a worldwide celebration, Kuwait Fund’s Acting Director-General Mr. Waleed Shamlan Al-Bahar announced that the total number of Kuwait Fund’s contributions to support UN agencies’ development efforts and projects amounted to 34 grants worth USD 108 million.
Al-Bahar affirmed that Kuwait Fund’s efforts, in partnership with UN agencies, are part of backing human action regionally and internationally, bolstering countries’ capacities for development, and supporting refugees by providing them with the opportunity to acquire a decent life.
He added that such joint development and human efforts with the UN had had a profound impact on the advancement of education, health, agriculture, irrigation, transportation, communication, energy, industry, water, and sewage sectors in development nations.
About the Kuwait Fund for Arab Economic Development
The Kuwait Fund For Arab Economic Development is the first institution in the Middle East that took an active role in the international development efforts.
The Kuwait Fund extends Loans on concessionary term to finance development projects in the developing countries. The Fund also provides technical assistance to finance the costs of the feasibility studies of projects, as well as the training of nationals of the borrowing countries. In addition, the Fund subscribes in the capital of international and regional development institutions. Today, the Kuwait Fund forms a solid bridge of friendship and solidarity between the state of Kuwait and the developing nations.
