Since its establishment, the Kuwait Fund for Development has continued its journey of work, giving, and effort to support development issues in developing countries and to extend a helping hand to these countries as the first development institution known to the Arab world at the beginning of the 1960s. Over the past years, the Fund has become a partner for many developing countries in their development journey, and has achieved remarkable developments in supporting human development through projects that have contributed to improving the sectors of education, health, water and sanitation, agriculture and irrigation, transport and communications, energy and industry, in order to achieve development goals and sustainable development globally.

Multiple Contributions

To discuss the latest projects funded by the Fund during the past period, its future plans, and the challenges facing development work now and in the future, the Fund's Assistant Economic Advisor, Bodour Al Mansouri, confirmed that the latest projects that the Fund's Board of Directors approved to contribute to financing are: the Public Education Infrastructure Development Project in the Hashemite Kingdom of Jordan, the Interprovincial Aqueduct Santa Fe – Cordoba Project in the Argentine Republic, in addition to the Sevare-Goa Road Project in the Republic of Mali.

 

Bodour Al Mansouri

Assistant Economic Advisor

Al Mansouri added that the Fund had previously contributed to the financing of a number of projects that contribute to providing healthcare and safe drinking water in the Hashemite Kingdom of Jordan, including financing the Al-Aqaba Hospital Project, which aims to improve healthcare levels for all citizens and residents in the Al-Aqaba Governorate, which leads to reducing referrals from the governorate to the capital, Amman, and the project also contributes to achieving the third goal of the Sustainable Development Goals. The Fund also financed the Amman Water Supply Project with the aim of providing water to the city of Amman and other surrounding cities that suffer from a severe shortage of water, and the project contributes to achieving the sixth goal of the Sustainable Development Goals. Also, the project to improve the health system and water network in the northern Badi region of Jordan.

 

The Al-Aqaba Hospital Project – The Hashemite Kingdom of Jordan

Al Mansouri explained that the Fund's development contributions and projects have a distinguished impact on communities in beneficiary countries, as they serve segments of society in the project area in particular, and they also have positive effects on the local economy of these countries.

Pillars of Project Evaluation

The Kuwait Fund for Development bases the evaluation and financing of projects on specific pillars. It begins by accepting requests for project financing from governments of countries, studying them technically and economically, and preparing a detailed report that identifies the elements of the project and its expected benefits. This is after evaluating the project in the field through technical meetings with the relevant authorities in the beneficiary country. The project is selected according to criteria that include the infrastructure sector and the priorities of the borrowing country. After approval for financing, the implementation of the project is monitored on a regular basis to ensure its success.

Challenges and Difficulties

The Kuwait Fund for Development faces economic, political, and climatic challenges in its work with developing countries. These challenges include the deterioration of the global economic situation, rising inflation rates, and climate change. Therefore, the Fund seeks to finance projects that contribute to adapting to and mitigating the effects of climate change.

At the level of developing countries, high levels of external debt are a major challenge, in addition to development challenges such as desertification, water scarcity, and poverty. The Kuwait Fund works to support these countries by providing technical and financial support to implement their development projects and by monitoring global developments to ensure the provision of appropriate support according to the needs of countries.

Sustainability in Projects

Sustainability in projects is an important matter for the Kuwait Fund for Development. The Kuwait Fund ensures that the projects it finances are in line with the priorities of the beneficiary countries and contribute to achieving the Sustainable Development Goals. It evaluates projects from various aspects. The Fund works to finance projects in sectors such as water, energy, transport, health, and education that aim to achieve the Sustainable Development Goals in developing countries. For example, the project of the Construction of Bahr Al Baqar Water Drainage System in the Arab Republic of Egypt was financed to ensure the provision of agricultural water and sustainability in the use of water resources and to achieve the Sustainable Development Goals in this sector.

The Future of Energy

Developing countries face significant challenges in securing clean energy and food security due to their limited financial resources, which forces them to resort to borrowing. The Kuwait Fund for Development works to assist these countries by financing projects that strengthen infrastructure and provide food security and energy and achieve sustainable development.

Prominent examples include the Family Farming Project in the Republic of Guinea-Bissau, and the project to establish hydroelectric power stations in the Republic of Cuba, as these projects contribute to enhancing food security, providing clean energy, and reducing harmful emissions.

 

The Family Farming Project – The Republic of Guinea-Bissau