Latest news with #WaleedAl-Bahar
Kuwait Times
06-07-2025
- Business
- Kuwait Times
KFAED, UK sign MoUs to assist Sudan, Somalia
Kuwait Fund for Arab Economic Development KUWAIT: The Kuwait Fund for Arab Economic Development (KFAED) signed two memoranda of understanding (MoUs) with the United Kingdom's Foreign, Commonwealth and Development Office (FCDO) to deliver joint emergency humanitarian aid to conflict-affected populations in Sudan and Somalia. In a statement to KUNA on Sunday, KFAED announced that both sides will jointly provide a humanitarian grant totaling $10 million—$5 million from each party—to support the United Nations Children's Fund (UNICEF) in Sudan. The assistance will help maintain access to essential services including healthcare, nutrition, water, sanitation, and child protection for vulnerable populations in the country. An additional grant of $5 million ($2.5 million from each side) will be allocated to finance a joint project supporting the efforts of the International Committee of the Red Cross (ICRC) in Somalia, the Fund added. Acting Director General of KFAED Waleed Al-Bahar said the agreements underscore the Fund's commitment to strengthening international partnerships in humanitarian relief, development, and peacebuilding. He emphasized that this renewed cooperation with the UK will facilitate the exchange of expertise and unify efforts to assist the most vulnerable communities in Sudan and Somalia, while reinforcing Kuwait's leading humanitarian role regionally and globally. Mamadou Sow, Head of the ICRC Regional Delegation for the Gulf Cooperation Council countries, praised the partnership as a symbol of shared humanitarian commitment. He noted that the grant goes beyond financial support, sending a strong message of solidarity with the Somali people. 'This cooperation aims to restore vital services in long-marginalized communities, reflecting Kuwait's long-standing humanitarian leadership and the UK's enduring role in promoting global solidarity,' he said. The MoUs were signed by Foreign Minister and Chairman of KFAED's Board of Directors Abdullah Al-Yahya on behalf of Kuwait, and UK Minister of State for Foreign, Commonwealth and Development Affairs David Lammy on behalf of the British government. These MoUs fall under the framework of a cooperation agreement signed in February 2020 between KFAED and the UK's former Department for International Development, establishing the foundation for joint humanitarian action to improve living conditions for refugees, displaced persons, and communities impacted by wars and natural disasters worldwide. — KUNA
Kuwait Times
05-07-2025
- Business
- Kuwait Times
KFAED supports Mongolia airport expansion
KFAED's Acting Director General Waleed Al-Bahar participates in Mongolia's airport expansion project. – KUNA photos KUWAIT: The Kuwait Fund for Arab Economic Development (KFAED) has contributed to the development and expansion of Undurkhaan Airport in Mongolia, marking a new milestone in the growing partnership between Kuwait and Mongolia. In a statement issued Friday, KFAED Acting Director General Waleed Al-Bahar said the project was financed through a grant previously extended by the Government of Kuwait to Mongolia under the Fund's supervision, valued at KD 1.06 million (approximately $3.4 million). KFAED's Acting Director General Waleed Al-Bahar Al-Bahar noted that the Fund also signed an additional grant agreement worth KD 80,000 (approximately $262,000) with the Mongolian government to finance the technical and economic feasibility study for the project. The objective, he said, is to transform the airport into a Category 4C international facility that would serve as a catalyst for economic growth and align with Mongolia's Vision 2050 sustainable development strategy. 'The airport expansion project is expected to become a critical transport hub, facilitating mobility, boosting trade, and unlocking new economic opportunities for the region,' Al-Bahar stated. 'It will contribute significantly to long-term development and prosperity in Mongolia.' The opening ceremony was attended by Mongolia's Minister of Roads and Transport Delgier Saikhan, Kuwait's Ambassador to Mongolia Mutlaq Al-Thuwaimer, and several senior Mongolian officials. To date, KFAED has provided Mongolia with soft loans totaling KD 23.7 million (approximately $77.6 million), in addition to technical assistance worth KD 519,000 (approximately $1.7 million), reaffirming Kuwait's commitment to supporting sustainable development across Asia. — KUNA
Arab Times
05-07-2025
- Business
- Arab Times
Kuwait funds Mongolia airport development and enlargement
KUWAIT CITY, July 5, (KUNA): Kuwait Fund for Arab Economic Development (KFAED) participated on Friday in Mongolia's Undurkhaan Airport development and expansion project, a step towards the ongoing partnership between Kuwait and Mongolia. KFAED's Acting Director General Waleed Al-Bahar said in a statement issued by the Fund that the project was financed by a grant previously provided by the Kuwaiti Government to the Government of Mongolia, under the Fund's supervision, worth of KD 1.06 million (approximately USD 3.4 million). He added that the Fund also signed a grant worth KD 80,000 (approximately USD 262,000) with the Government of Mongolia to finance the technical and economic feasibility study for the project, to transform it into a Category 4C international airport to be a major driver of economic development in line with Mongolia's strategy to achieve sustainable development by 2050. He stressed that the airport expansion project will be a vital hub that contributes to facilitating transportation, stimulating trade, and creating new economic opportunities for the region, thus enhancing long-term growth and prosperity in Mongolia. The opening was attended by Minister of Roads and Transport of Mongolia Delgier Saikhan, the Ambassador of Kuwait to Mongolia Mutlaq Al-Thuwaimer, and a number of representatives of the Mongolian government. The Kuwait Fund has so far provided about KD 23.7 million (about USD 77.6 million) in soft loans, in addition to technical assistance amounting to KD 519 thousand (about USD 1.7 million) to Mongolia.
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.
