KFAED allocates over KD 578m to support housing projects
The statement also noted KFAED's long-term support for Kuwait Credit Bank, including the purchase of KD 500 million ($1.6 billion) in bonds in 2002, later extended until 2042, as well as a KD 300 million ($981 million) grant in 2022 to reinforce its capital base. These contributions bring the Fund's total support for the Bank to around KD 800 million ($2.6 billion), representing about 40 percent of the Fund's capital.
KFAED emphasized that its cumulative support for Kuwait's housing sector has surpassed KD 1.37 billion ($4.49 billion), underscoring its strategic commitment to advancing housing solutions and contributing to social and economic stability for Kuwaiti families. Established in 1961, the Kuwait Fund was the first development institution in the Middle East, tasked with providing financial and technical assistance to friendly and developing countries. Today, it remains a key tool of Kuwait's contribution to sustainable development both locally and internationally. — KUNA
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