KFAED: Winning Arab award reflects fund’s SDGs role

Winning the Abdullatif Al-Hamad Development Award in the Arab World reflects the Kuwait Fund for Arab Economic Development's (KFAED) leading role in sustainable development goals (SDGs), a top KFAED executive said on Wednesday. Speaking to KUNA on th...

Winning the Abdullatif Al-Hamad Development Award in the Arab World reflects the Kuwait Fund for Arab Economic Development’s (KFAED) leading role in sustainable development goals (SDGs), a top KFAED executive said on Wednesday.

Speaking to KUNA on the sideline of the Joint Annual Meetings of Arab Financial Institutions 2024, Acting KFAED Director General Waleed Al-Bahar told KUNA winning the award from the Arab Fund for Economic and Social Development came due to the fund’s contribution to the Bahr Al-Baqar Treatment Plant in Egypt.

The honoring also displayed its keenness on sustainable projects throughout the Arab world and beyond, said Al-Bahar, noting that the project will serve and provide job opportunity for around 100,000 people.

Al-Bahar affirmed that over 50 percent of the KFAED’s operations were in the Arab region, adding that the fund was also interested in providing assistance beyond the region.

The Award is given to the best economic and social development project in the Arab world, either pa
rtially or fully funded by a member of the Arab Coordination Group, while giving priority to joint Arab projects.

The Award aims to promote, distinguish and highlight successful development projects that have either led to solving existing problems, or contributed to enhancing the economic and social capacities in the Arab World, while also bringing awareness to such projects, in order to make them an inspiration to promote creativity, better management, more efficient construction and maximization of expected benefits of projects.

The Joint Annual Meetings of Arab Financial Institutions is held in the new Administrative Capital and features the participation of Arab ministers and executives including Kuwait Minister of Finance, Minister of State for Economic and Investment Affairs Dr. Anwar Al-Mudhaf.

Source: Kuwait News Agency