Kuwait Fund held at its headquarters yesterday an introductory lecture to participants of a training program, organized by Arab Planning Institute, with an aim to provide them with an overview of its development action.

During the lecture, which is part of the ongoing cooperation among local institutions and bodies, the trainees got acquainted with the Fund’s activities and its development role in 105 countries around the world.

For his part, Superintendent for West African Countries Affairs Mr. Thamer Al-Failakawi presented a review of the Fund's achievements in the field of development and humanitarian aid at the regional and global levels.

Al-Failakawi drew attention to the Fund’s contributions to several projects on the regional scale, including the GCC Electricity Interconnection Project, given its positive returns for all countries in the region.

Al-Failakawi also indicated that the Fund monitors the implementation of any project by sending follow-up missions and receiving periodic reports from the beneficiary country to ensure the technical, legal, and economic soundness of the projects.

Al-Failakawi also highlighted the Fund’s local role and its contributions within the State of Kuwait, which included supporting resources of the Public Authority for Housing Welfare since 2003 by deducting a percentage not exceeding 25% of its net annual profits.

The Fund also launched the “Training Program for Kuwaiti new Engineering and Architecture Graduates” in 2004 for the training and qualification of newly-graduated Kuwaiti engineers and architects. This is in addition to other various local initiatives.

Furthermore, Superintendent for Loans Disbursement, Mr. Salem Al-Qallaf, provided an explanatory presentation on the role and importance of the Kuwait Fund’s Disbursement Department in implementing loan and grant agreements provided to either countries or regional and international institutions, in cooperation with the Operations Department.

Al-Qallaf also mentioned the Fund's activity in the various development sectors, including the transportation sector, agriculture, communications, industry, water and sanitation, energy, and finally the social sector.

It is worth noting that the Fund relies entirely on its own resources to finance its development projects for developing nations, including the provision of loans, technical assistance, and other relief assistance actions.