Latest news with #KFAED

Kuwait Times
21-06-2025
- Business
- Kuwait Times
Kuwait Fund lights up in blue to mark World Refugee Day
KFAED, UNIDO ink deal to support fragile states KUWAIT: The Kuwait Fund for Arab Economic Development (KFAED) illuminated its headquarters in blue on Thursday in solidarity with refugees worldwide, reaffirming its humanitarian commitment on the occasion of World Refugee Day. The symbolic gesture reflects Kuwait's longstanding support for displaced populations and its call for international solidarity to alleviate their suffering. Acting Director General of KFAED, Waleed Al-Bahar, stressed in a press statement that both the State of Kuwait and the Fund have played a vital role in extending aid to refugees globally, working in collaboration with various UN agencies and international organizations dedicated to refugee and human rights issues. Al-Bahar noted that the Fund maintains strong partnerships with the United Nations High Commissioner for Refugees (UNHCR), the UN Relief and Works Agency for Palestine Refugees (UNRWA), and UNICEF. It also collaborates with institutions such as the Children's Cancer Center in Lebanon, the King Hussein Cancer Foundation in Jordan, and the Kuwait Red Crescent Society (KRCS) to implement projects aimed at improving the living and health conditions of Syrian, Palestinian, and Rohingya refugees. 'This cooperation stems from our firm belief in the need to secure a dignified life and protect the rights of refugees in a sustainable manner,' he said, highlighting Kuwait's historic humanitarian efforts in supporting vulnerable communities across the globe. Al-Bahar underlined that World Refugee Day, observed annually on June 20, serves to honor the strength and resilience of displaced individuals forced to flee due to war, persecution, or natural disasters. He reaffirmed KFAED's continued efforts to enhance refugees' living conditions through impactful partnerships with regional and international stakeholders. Acting Director General of the Kuwait Fund for Arab Economic Development, Waleed Al-Bahar, with Director General of the United Nations Industrial Development Organization (UNIDO), Gretchen Mulller.- KUNA photos KFAED, UNIDO ink deal Separately, on the sidelines of the 4th OPEC Fund Development Forum held in Vienna, KFAED signed a joint coordination framework with the United Nations Industrial Development Organization (UNIDO) to identify and finance development projects in conflict-affected regions. Speaking to KUNA, Al-Bahar said the agreement marks the first official collaboration between KFAED and UNIDO, aiming to facilitate development efforts in fragile states, including the occupied Palestinian territories, Syria, Yemen, and Sudan. 'This memorandum is a starting point for strategic long-term cooperation,' Al-Bahar said, adding that the initiative will leverage UNIDO's technical expertise to deliver sustainable solutions in crisis-hit areas. For his part, UNIDO Director General Gerald Müller underscored the agency's focus on implementing practical, high-impact projects, particularly in Africa and Latin America. He highlighted the importance of strong partnerships to enhance industrial development, food security, and renewable energy deployment in vulnerable regions. 'Our core work centers on implementation,' Müller stated, emphasizing the organization's experience in hydrogen energy, infrastructure networks, and water and energy management. He noted that food security remains a priority area for Arab and African nations, and UNIDO brings substantial technical experience to this sector. The 4th OPEC Fund Development Forum, held under the theme 'Transformation Empowers Our Future,' brought together heads of state, policymakers, experts, and innovators to advance inclusive growth and equitable transformation, with a focus on South-South cooperation.- KUNA


Arab Times
19-06-2025
- General
- Arab Times
KFAED illuminates its headquarters in blue to mark World Refugee Day
KUWAIT CITY, June 19: The Kuwait Fund for Arab Economic Development (KFAED) lit its headquarters in blue to mark World Refugee Day, reaffirming Kuwait's unwavering humanitarian stance and emphasizing the importance of international solidarity in alleviating the suffering of refugees around the globe. In a press statement issued Thursday, Acting Director General of the Fund, Waleed Al-Bahar, underscored Kuwait's and the Fund's long-standing commitment to supporting refugees through collaboration with global humanitarian agencies and organizations concerned with refugee welfare and human rights. Al-Bahar highlighted KFAED's strategic partnerships with major international organizations such as the United Nations High Commissioner for Refugees (UNHCR), the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), and the United Nations Children's Fund (UNICEF). He further noted that the Fund also works closely with regional humanitarian and medical institutions, including the Children's Cancer Center in Lebanon, the King Hussein Cancer Foundation in Jordan, and the Kuwait Red Crescent Society (KRCS), by signing agreements to finance development projects that enhance the living and health conditions of Syrian, Palestinian, and Rohingya refugees. "This cooperation reflects our belief in the necessity of providing a dignified life and sustainable daily support for refugees," Al-Bahar stated. "Kuwait, throughout its humanitarian history, has continuously adopted and implemented initiatives to support vulnerable populations, reflecting the nation's enduring legacy of compassion and generosity." Al-Bahar pointed out that World Refugee Day, observed annually on June 20, serves to honor the resilience and courage of displaced individuals who have fled their homelands due to conflict, persecution, or natural disasters. He emphasized the Fund's commitment to continuing its support through effective development and humanitarian partnerships in coordination with both regional and international allies. 'The Kuwait Fund will remain steadfast in its mission to uplift refugees and improve their living conditions as part of a broader global effort to ensure protection, stability, and dignity for all,' he concluded.


Zawya
16-06-2025
- Business
- Zawya
Bahrain opens commercial bids for Sheikh Jaber Highway upgrade consultancy
Bahrain's Ministry of Works has opened commercial bids for pre-contract engineering consultancy services on the planned upgrade of the Sheikh Jaber Al-Ahmad Al-Sabah (SJAS) Highway. The commercial bids from AECOM Middle East and Parsons Global Services were opened on 12 June. AECOM submitted a bid of 601,044.180 Bahraini dinars ($1.6 million), while Parsons offered 548,757 dinars ($1.5 million). The consultancy scope involves revising to align with area updates, ensuring at least 5 lanes each way where possible, following phasing plans within budget, and meeting the minimum 2-lane requirement at junctions and service roads The scope also includes updating utility corridors, revising storm water design for current rainfall intensity and catchment area, and preparing contract drawings and tender documents for contractor appointment The highway upgrade is being supported by the Kuwait Fund for Arab Economic Development (KFAED), which signed a 10 million Kuwaiti dinar ($32.4 million) loan agreement with the Bahraini government in March 2025, according to Kuwait's state news agency KUNA. The total cost of the project is estimated at $404.4 million, with KFAED contributing roughly 8 percent of the financing. (Writing by Deva Palanisamy; Editing by Anoop Menon) (

Kuwait Times
11-06-2025
- Business
- Kuwait Times
Kuwait relations with Africa are 'deep and historic': FM
57 percent of KFAED's global development activity focused on Africa, official says KUWAIT: Foreign Minister Abdullah Al-Yahya participated on Tuesday in the celebration of Africa Day, hosted at the invitation of ambassadors and heads of African diplomatic missions accredited to Kuwait. In a press statement on the occasion, he extended heartfelt congratulations, emphasizing that Kuwait's relationship with the African continent is both "deep and historic." He reaffirmed Kuwait's commitment to strengthening cooperation and coordination with African nations, highlighting the country's pride in its strong partnership—particularly through the Kuwait Fund for Arab Economic Development (KFAED), which has supported vital infrastructure and development projects across the continent since its founding in 1961. Coinciding with the celebration, an art exhibition was inaugurated, featuring both contemporary and traditional works by African artists. Attendees also enjoyed musical and folkloric performances by African cultural troupes, showcasing the richness and authenticity of African heritage and symbolizing the strong historical bonds between the people of Kuwait and Africa. Acting Director General of KFAED, Waleed Al-Bahar, also took part in the celebration. In a press statement, he announced that the fund has financed 540 development projects in more than 50 African countries, with a total value exceeding $11.4 billion. These efforts represent around 57 percent of the fund's global activity and have, he noted, contributed significantly to economic transformation and improved livelihoods across the continent. Al-Bahar emphasized that Africa remains a top priority in the fund's development agenda. He expressed pride in the enduring and robust partnerships with African countries and stressed the importance of continued cooperation to promote further progress, prosperity, and sustainable development across the continent. He noted that KFAED continues to offer loans, grants, and technical assistance to support various programs and projects aimed at advancing comprehensive development in African nations. This year marks the ninth consecutive year of the fund's participation in Africa Day celebrations. Through a dedicated pavilion, the fund showcased its development and humanitarian contributions, highlighting key projects that have supported growth and improved living standards throughout Africa. The celebration also featured the participation of more than 30 embassies from African Union member states, each presenting elements of their country's cultural and historical heritage through exhibits, artifacts, and traditional crafts, reflecting the diverse professions and traditions across the continent. — KUNA


Zawya
11-06-2025
- Business
- Zawya
KFAED allocates $11.4bln for 540 development projects in Africa
KUWAIT CITY - Acting Director General of the Kuwait Fund for Arab Economic Development (KFAED) Waleed Al-Bahar said Tuesday, the fund financed 540 development projects in more than 50 African countries at a value exceeding USD 11.4 billion. This came as Al-Bahar participated in the Africa Day celebration held at the invitation of the ambassadors and heads of African diplomatic missions accredited to Kuwait to commemorate the founding of the African Union. The fund's operations in Africa and its projects represent approximately 57 percent of its total global activity and have contributed to a qualitative shift in the economies of African countries and improved people's living, said Al-Bahar in a statement. He expressed pride in KFAED's relations with African countries, stressing his commitment to strengthening bilateral relations and achieving greater progress, prosperity, and development for the peoples of the continent through ongoing cooperation. Regarding the Africa Day celebration, Al-Bahar said that the fund is participating for the ninth consecutive year with a special pavilion highlighting its development and humanitarian efforts on the African continent. This year's celebration saw the participation of more than 30 African Union embassies, displaying their cultural and historical heritage through exhibits, collectibles, and craft tools that reflect the diverse professions and activities of each country, he added. KFAED was established in 1961 as the first development institution in the Arab region, before expanding its scope of activities to include developing countries starting in 1974, with its contributions reaching 105 countries to date. Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. (