P.O. Box 2921 Safat 13030 Kuwait
Tel: +965 22999000
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ABOUT KUWAIT FUND
Who we are
Kuwait Fund For Arab Economic Development is the first institution in the Middle East that took an active role in the international development efforts.
The Kuwait Fund extends Loans on concessionary term to finance development projects in the developing countries. The Fund also provides technical assistance to finance the costs of the feasibility studies of projects, as well as the training of nationals of the borrowing countries. In addition, the Fund subscribes in the capital of international and regional development institutions.
Today, the Kuwait Fund forms a solid bridge of friendship and solidarity between the state of Kuwait and the developing nations.
The Kuwaiti Fund for Arab Economic Development is a leading Kuwaiti bilateral development institution, established by virtue of Law No. 35 of 1961 and subsequent laws, to support and assist the Arab States and developing countries to develop their economies, promote cooperation and friendship between the State of Kuwait and those States through providing accessible loans, technical assistances and contributions in the resources and capitals of regional and international development institutions.
OUR VISION
Leadership and innovation in providing development support to Arab and developing countries in order to achieve sustainable development and enhance Kuwait’s position internationally.
OUR MISSION
Kuwait Fund for Development provides the development aid for the benefit of Arab countries and other developing countries so as to achieve sustainable development in them, and the humanitarian and development initiatives launched by the State of Kuwait under Kuwait Vision 2035.
OUR VALUES
Kuwait Fund
1
Independence
The Fund maintains its independence in its development initiatives and management.
2
Fiscal Prudence
The Fund relies on the best practices and accumulated experience to maintain financial sustainability.
3
Humanitarian Development
Commitment to humanitarian and developmental role of the State of Kuwait by providing the facilitated loans and grants to Arab states and other developing countries.
4
Development Priorities
Respecting the priorities of countries in the implementation of development projects as long as they are within the objectives of Kuwait Fund.
5
Technical & Economic Commitment
Being keen on the technical safety and economic feasibility and providing the administrative and legal components necessary for the success of the funded projects.
6
Social Responsibility
Providing support to the private sector and Kuwaiti community.
7
Preservation of the Environment
Being keen to finance the environmentally friendly projects.
8
Development Cooperation
The close collaboration with our development partners to achieve common development goals.
- The Fund's assistance takes one of the following forms :
- Providing loans and grants, including technical assistance grants.
- Contributing to the capital of international and regional development financial institutions and representing the State of Kuwait therein.
- Providing loans directly to central governments or to public institutions affiliated with them with the guarantee of their governments.
- Parallel or joint financing with international development finance institutions or those affiliated with one of the countries.
- Providing grants to finance technical, financial and economic studies, whether these studies relate to projects that the Fund contributes to or otherwise.
- In addition grants are provided for institutional support, training, general studies, research and other activities and fields that are consistent with the Fund's purposes.
- Providing technical advice regarding the technical, financial, economic and legal aspects of projects, programs or development policies or regarding providing assistance in the field of development.
- The Fund does not provide financial assistance aimed at supporting public budgets or supporting balances of payments.
The Fund may extend its assistance to different types of entities which include:
Central and provincial governments, public utilities and other public corporations. Development institutions, whether international, regional or national and, in particular, development finance institutions. Corporate entities that undertake projects which are jointly owned by a number of developing countries as well as mixed or private enterprises that enjoy corporate personality, and are of a developmental nature and not merely oriented towards making of profit. Such enterprises must be either under the control of one or more developing countries or have the nationality of any such country.
(Where the borrower is an entity other than the state in the beneficiary country, the Fund usually requires that the state in such country enters into an agreement with the Fund whereby it guarantees the performance of the borrower's obligations under the respective loan agreement.)
FUND'S OPERATING PRINCIPLES
- Given that most of the Fund's activities are determined by the demand for development financing from countries, the strategy is based on a specific methodology according to the following principles:
- Operating within Kuwait Vision 2035 and in line with the general policy of the State of Kuwait, particularly in foreign cooperation and development.
- Striving to contribute to achieving the Sustainable Development Goals (2016 - 2030).
- Providing assistance and support to the most vulnerable populations, with a focus on eliminating poverty and unemployment and achieving food security.
- Selecting programs and projects based on the priorities and development plans of countries, as long as these projects align with the Fund's developmental goals and meet technical safety and economic and financial feasibility standards.
- Respecting the ownership of beneficiary countries for projects that the Kuwait Fund agrees to finance, including legal ownership and their right to implement applicable rules and regulations during project execution.
- Managing the Kuwait Fund's resources efficiently and prudently to ensure financial sustainability.
- Implementing governance rules that enable the Kuwait Fund to operate transparently and in accordance with international standards.
- Coordinating with various regional and international development aid institutions to maximize the effectiveness of the Kuwait Fund's activities.
- Keeping pace with local, regional, and international developments in the field of development aid, highlighting the distinguished developmental role of the Kuwait Fund, and promoting the role of the State of Kuwait in contributing to and cooperating with the international community and organizations in economic, social, and human development worldwide.
The Fund does not provide financial assistance for budgetary or balance of payment support.
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