Kuwait Fund for Arab Economic Development

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Kuwait Fund for Arab Economic Development

An agency of the government of Kuwait intended to encourage international development. It was the first organization established by a developing country to assist developing countries. It was founded in 1961 with profits from Kuwait's oil reserves. See also: Petrodollar, AFESD.
References in periodicals archive ?
In December 2014, Egypt and KFAED signed a loan agreement worth approximately $105m, to be used to invest in a power plant project located west of Cairo.
The KFAED also gives $US 41 million to finance the rural development project in Ibb and Rayma provinces.
Accordingly, 40 African countries excluding Arab African countries have benefited from KFAED finance to date.
In the coming weeks, Director General of the KFAED Abdul Wahab Al-Bader will be visiting Egypt to sign the loan agreement.
The agreement was signed between the Egyptian minister and KFAED Director Abd-Al-Wahab Al-Bader.
The grant's agreements were signed by Minister of Planning and International Cooperation Mohammed al-Sa'adi and KFAED Director General Abdul Wahab al-Badr.
Al-Jareeda Al-Oula" newspaper quoted a KFAED official as saying that the fund plans to pump between USD 60 to 100 million to contribute to the financing of one of the most important investment deals carried out by a Kuwaiti group in Morocco.
Kuwait Fund for Arab Economic Development (KFAED) would loan nearly KD nine million to help expand a medical facility in China, announced Director General of KFAED, Dr.
During the meeting, al-Badr said that KFAED has made a loan of $54 million to Yemen, which aims to link rural areas and villages to the urban centers and cities through rural roads in most of the governorates as well as providing the required institutional and consulting services to oversee the implementation of the roads.
In the presence of Prime Minister Hesham Qandil, the Minister of Planning and International Cooperation Ashraf El-Arabi, signed the loan agreement with Abdel Wahab El-Badr, the general director of KFAED.
For the first phase of the project, The KFAED is contributing KD 21 million (USD 69.
The two agreements co-signed by Planning and International Cooperation Minister Mohammed al-Sa'adi and KFAED agricultural advisor AbdulRedha Bahman, are dedicated to execute the public works project and the rural development project in Ibb and Rayma provinces.