Sustainable development, environ projects part of KFAED operations
OAPEC to hold 103rd ministerial meeting in Kuwait
KUWAIT CITY, Dec 18, (KUNA): Sustainable development and environmental projects have been the integral parts of operations carried out by Kuwait Fund for Arab Economic Development (KFAED) during the past 58 years.
The fund, established in 1961, made its imperative to facilitate loans for projects within the domain of agricultural, transportation, energy as well as water and irrigation.
In a statement obtained by KUNA, KFAED indicated that the number of loans between 2017 and 2018 had amounted to 956 worth KD 6.1 billion (about $20 billion). Loans provided for sustainable development and environmental projects represented around 13.3 to 25.3 percent of the loans provided by KFAED. Kuwait, represented by KFAED, is eager to implement the 17-point United Nations Sustainable Development Goals (UNSDGs) through its various projects, affirmed the Fund.
While it is carrying out its international duty, environmental challenges and decreasing resources remain as huge challenges in face of the Fund’s mission.
Lack of clean water resources for example affects over 40 percent of the world population with expectation that the percentage would increase in the upcoming years to touch the lives of some 783 million people worldwide.
The KFAED noted that it had dedicated a number of projects to provide water resources to various countries.
In the sustainable development domain, the KFAED had assisted a number of countries in the Middle East, Africa, and Asia to carry out projects in this domain in line with the UNSDGs and the State of Kuwait’s commitment to global progress, affirmed the statement.
Organization of Arab Petroleum Exporting Countries (OAPEC) said Wednesday that it will hold its 103rd meeting in Kuwait next Sunday. In a statement to KUNA, Secretary General of the Organization Abbas Al-Naqi said that the upcoming meeting will be under the chairmanship of Bahrain’s Oil Minister Shaikh Mohammed AlKhalifa.
Al-Naqi noted that the meeting will cover and discuss activities related to the Kuwait-based Organization’s work, as well as approve the draft budget for 2020.