Latest news with #KuwaitFundforArabEconomicDevelopment
Zawya
25-04-2025
- Business
- Zawya
Kuwait Fund signs $2.5mln grant in support of Somalia
WASHINGTON - Kuwait Fund for Arab Economic Development (KFAED) signs a grant agreement on Thursday with the UN in order to help facilitate humanitarian efforts in Somalia with a sum of USD 2.5 million for 2025-2026. In a press statement the Fund said the agreement was signed by Director General Waleed Al-Bahar at UN office of the Coordinator of Humanitarian Affairs Lisa Dotten during the spring meeting of the World Bank and International Monetary Fund in Washington. They also explained the funds aim to provide essentials services under the frameworks of implementing the UN Humanitarian Response Plan for Somalia by providing direct funding and enabling the delivery of life-saving assistance through implementing the small projects with local partners in Somalia. The Fund will also be helping in mobilizing the financial and technical resources necessary to ensure the integration and effectiveness of the humanitarian response. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
Arab Times
16-04-2025
- Business
- Arab Times
Kuwait-Tajikistan relations celebrate 30-year milestone
KUWAIT CITY, April 16: Assistant Foreign Minister for Asian Affairs Ambassador Samih Jawhar Hayat has affirmed the strength of the relationship between Kuwait and Tajikistan, stressing that both nations are committed to deepening bilateral cooperation and exploring promising avenues for mutual benefit and sustainable development. Speaking at a celebration hosted by the Embassy of Tajikistan to commemorate the 30th anniversary of diplomatic relations between the two countries, Hayat asserted that 'from the beginning, Kuwaiti-Tajik relations have been grounded in mutual respect and constructive cooperation.' He pointed out that in the last three decades, the relationship has steadily grown -- a manifestation of both countries' dedication to solidify their friendship, enhance coordination, and promote shared interests. 'Today, we proudly celebrate 30 years of diplomatic ties with the Republic of Tajikistan. These relations started in 1995 and steadily strengthened through mutual understanding and a genuine desire to expand cooperation between the two friendly nations,' he added. He also cited the historic visit of Tajikistan's President Emomali Rahmon to Kuwait in November, and his meeting with His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah; considering it a milestone on the path of bilateral ties. 'We value the cooperation between Kuwait and Tajikistan, as well as with the wider Central Asian region. Kuwait remains steadfast in its commitment to advance this important partnership,' he added. He underscored the importance of sustained coordination and consultation -- both bilaterally and within international forums -- to further activate the roles of Kuwait and Tajikistan in promoting regional and global peace, stability and development. On the other hand, First Deputy Minister of Foreign Affairs of Tajikistan Ismatullah Nasriddin echoed similar sentiments, praising the continuous progress in Tajik-Kuwaiti relations over the past 30 years. He said the principles of mutual respect and effective collaboration are the main pillars underpinning joint efforts to support regional and international peace. Nasriddin also acknowledged the deep cultural and civilizational ties that bind the two nations, confirming that Kuwait is considered one of Tajikistan's most trusted partners in the Middle East, in the same manner that Tajikistan is a reliable partner for Kuwait in Central Asia. While reaffirming the commitment of Tajikistan, under the leadership of President Rahmon, to expand multidimensional cooperation with Kuwait, he lauded the significant role played by the Kuwait Fund for Arab Economic Development (KFAED) in supporting vital infrastructure and social service projects in Tajikistan.
Zawya
10-04-2025
- Business
- Zawya
Kuwait stresses the need for unified Arab economic policies
KUWAIT CITY: Acting Prime Minister and Minister of Interior Sheikh Fahad Yousef Saud Al-Sabah emphasized the importance of economic cooperation and integration among Arab countries on Wednesday. He highlighted the need to unify policies and procedures aimed at strengthening economic structures, improving the business environment, and increasing productivity and competitiveness. Sheikh Fahad made these remarks during the joint annual meetings of financial institutions and the 16th regular session of the Council of Arab Finance Ministers, which were hosted by Kuwait. He explained that the current complex phase places a historic responsibility on Arab financial institutions to intensify efforts and enhance institutional integration. He stressed the importance of fostering the spirit of Arab solidarity, adapting to changes, and responding quickly to the needs of member states. 'Today, more than ever, we must intensify our efforts,' he said. He also noted the rapid development of technology, particularly artificial intelligence, which has become a significant driver of the global economy. He pointed out that the Arab economy faces a prominent challenge in integrating these modern technologies into markets to achieve substantial growth and development. Sheikh Fahad reiterated that Kuwait continues to support youth empowerment, human capital development, and small and medium enterprises. These initiatives, which were launched at the first development summit in 2009, also include providing job opportunities and prioritizing science, technology, and innovation. He added that Kuwait's commitment to supporting development in developing countries is a longstanding tradition, symbolized by the establishment of the Kuwait Fund for Arab Economic Development more than six decades ago. The fund has become a milestone in Arab and international development efforts. Sheikh Fahad praised the role of Gulf development funds and joint Arab financial institutions in financing development projects worldwide. He emphasized that these efforts reflect a shared belief in the importance of solidarity and cooperation to achieve comprehensive and sustainable development. Kuwait, he said, will continue to support projects and decisions from the joint annual meetings of Arab financial institutions that align with the interests of Arab countries and elevate the aspirations of their citizens. Omani Minister of Finance Sultan Al Habsi also addressed the meeting, emphasizing the impact of current global events on the global economy and the negative effects on the Arab region. He stressed that joint Arab financial bodies must take effective and rapid measures to confront these challenges. Al Habsi highlighted recent decisions by the United States to impose customs duties on several countries and underscored the need to create a conducive investment climate. This, he said, would encourage the private sector, attract capital, and develop investment opportunities to achieve sustainable development goals. He noted that such efforts can only succeed through laws and regulations that foster openness to the global economy, accelerate structural reforms, combat corruption, and promote transparency and integrity. The Omani minister praised the efforts made by Arab countries to overcome difficulties but acknowledged that many challenges remain, requiring further collaboration and alignment of strategies. He stressed the importance of enhancing coordination among Arab nations and developing flexible financial strategies to maintain economic stability and growth amid global fluctuations. Al Habsi also called for a focus on the least developed countries in financing development, economic, and social projects to address chronic issues such as high unemployment, low-income levels, and fragile infrastructure. Additionally, he emphasized the need to tackle challenges posed by rapid technological advances and climate change. Delegations from various Arab countries, including ministers, senior officials, and economists, are participating in the meetings. These include officials from the Arab Monetary Fund, the Arab Fund for Economic and Social Development, the Arab Investment and Export Credit Guarantee Corporation, the Arab Bank for Economic Development in Africa, and the Arab Authority for Agricultural Investment and Development. Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. (
Arab Times
09-04-2025
- Business
- Arab Times
Kuwait stresses the need for unified Arab economic policies
KUWAIT CITY, April 9: Acting Prime Minister and Minister of Interior Sheikh Fahad Yousef Saud Al-Sabah emphasized the importance of economic cooperation and integration among Arab countries on Wednesday. He highlighted the need to unify policies and procedures aimed at strengthening economic structures, improving the business environment, and increasing productivity and competitiveness. Sheikh Fahad made these remarks during the joint annual meetings of financial institutions and the 16th regular session of the Council of Arab Finance Ministers, which were hosted by Kuwait. He explained that the current complex phase places a historic responsibility on Arab financial institutions to intensify efforts and enhance institutional integration. He stressed the importance of fostering the spirit of Arab solidarity, adapting to changes, and responding quickly to the needs of member states. 'Today, more than ever, we must intensify our efforts,' he said. He also noted the rapid development of technology, particularly artificial intelligence, which has become a significant driver of the global economy. He pointed out that the Arab economy faces a prominent challenge in integrating these modern technologies into markets to achieve substantial growth and development. Sheikh Fahad reiterated that Kuwait continues to support youth empowerment, human capital development, and small and medium enterprises. These initiatives, which were launched at the first development summit in 2009, also include providing job opportunities and prioritizing science, technology, and innovation. He added that Kuwait's commitment to supporting development in developing countries is a longstanding tradition, symbolized by the establishment of the Kuwait Fund for Arab Economic Development more than six decades ago. The fund has become a milestone in Arab and international development efforts. Sheikh Fahad praised the role of Gulf development funds and joint Arab financial institutions in financing development projects worldwide. He emphasized that these efforts reflect a shared belief in the importance of solidarity and cooperation to achieve comprehensive and sustainable development. Kuwait, he said, will continue to support projects and decisions from the joint annual meetings of Arab financial institutions that align with the interests of Arab countries and elevate the aspirations of their citizens. Omani Minister of Finance Sultan Al Habsi also addressed the meeting, emphasizing the impact of current global events on the global economy and the negative effects on the Arab region. He stressed that joint Arab financial bodies must take effective and rapid measures to confront these challenges. Al Habsi highlighted recent decisions by the United States to impose customs duties on several countries and underscored the need to create a conducive investment climate. This, he said, would encourage the private sector, attract capital, and develop investment opportunities to achieve sustainable development goals. He noted that such efforts can only succeed through laws and regulations that foster openness to the global economy, accelerate structural reforms, combat corruption, and promote transparency and integrity. The Omani minister praised the efforts made by Arab countries to overcome difficulties but acknowledged that many challenges remain, requiring further collaboration and alignment of strategies. He stressed the importance of enhancing coordination among Arab nations and developing flexible financial strategies to maintain economic stability and growth amid global fluctuations. Al Habsi also called for a focus on the least developed countries in financing development, economic, and social projects to address chronic issues such as high unemployment, low-income levels, and fragile infrastructure. Additionally, he emphasized the need to tackle challenges posed by rapid technological advances and climate change. Delegations from various Arab countries, including ministers, senior officials, and economists, are participating in the meetings. These include officials from the Arab Monetary Fund, the Arab Fund for Economic and Social Development, the Arab Investment and Export Credit Guarantee Corporation, the Arab Bank for Economic Development in Africa, and the Arab Authority for Agricultural Investment and Development.
Daily Tribune
01-04-2025
- Business
- Daily Tribune
Works Ministry committed to economic growth through infrastructure
The Minister of Works, His Excellency Engineer Ibrahim bin Hassan Al-Hawaj, has affirmed that the Ministry is actively implementing strategic programs and projects aimed at developing the Kingdom of Bahrain's infrastructure. These initiatives serve as a fundamental pillar for empowering key economic sectors and fostering a supportive environment for investment. Al-Hawaj commended the signing of the agreement between the government of Bahrain and the Kuwait Fund for Arab Economic Development to finance the 'Sheikh Jaber Al-Ahmad Al-Sabah Avenue Development Project - Phase II.' Relations This agreement underscores the deep fraternal and historical relations between Bahrain and Kuwait, highlighting the ongoing cooperation between both nations in supporting vital infrastructure projects. The Minister explained that the Sheikh Jaber Al-Ahmad Al-Sabah Avenue Development Project is one of the Ministry's most significant strategic initiatives, aiming to enhance traffic flow and support economic development. The avenue serves various commercial and industrial establishments, and the second phase of the project will significantly improve the road's efficiency, increasing its capacity to accommodate population growth and urban expansion in the Kingdom. He added that this project is a vital link between the Capital Governorate and the Southern Governorate. Its development will include road widening, the creation of service roads on both sides to serve exhibitions, commercial, and administrative buildings, as well as the construction of five overpasses. Al-Hawaj also praised the Ministry of Finance and National Economy for its efforts in coordinating the execution of development programs and plans, which are key to achieving the Kingdom's goals of enhancing its road network and infrastructure quality
