Kuwait Fund for Arab Economic Development

(redirected from KFAED)
Also found in: Acronyms.

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 ?
This became known after the talks of the KFAED regional manager for Central Asia and Europe, Fawaz al-Adsani, and the ambassador of Uzbekistan in Kuwait, Bakhromjon Aloev.
KFAED Director-General Abdelwahab Al-Badr said the loan, granted on preferential terms at a 2% interest rate, will be repaid over 25 years.
KFAED stated this agreement marks its 30 th loan to the African country, with the total amount of its financial support to Senegal equalling $374m (KWD110m).
C'est aussi le 39 eme pret accorde par KFAED a la Tunisie
KFAED has financed in the past three decades 33 projects in Tunisia for a total of 172.975 million Kuwaiti dinars (1.159 billion Tunisian dinars).
Both agreements were inked by KFAED Director-General Abdulwahab Ahmed Al-Bader on behalf of the fund.
Egypt and KFAED have had long and strong ties since 1964, with Egypt receiving a total of 40 loans in financial aid from KFAED.
Under the first agreement, the KFAED grants $52 million to finance the 4th phase of public works project aiming to enhance efforts to combat poverty and unemployment and improve standards of living through carrying out labor-intensive projects and small enterprises and creating job opportunities in fields of basic services and agriculture.
KFAED is managing a $2.5 billion aid provided by Kuwait to Bahrain within the Gulf Development Programme.
The Kuwait Fund for Arab Economic Development (KFAED), commonly known as the Kuwait Fund, is the State of Kuwait's agency for the provision and administration of financial and technical assistance to developing countries.
KFAED had extended to Morocco an overall 34 loans worth an overall KD 344.9 million to date, which comes to about USD 1.172 billion.Aa
Sudanese Ministry of Finance sign agreement to finance power plant project with (KFAED) KHARTOUM, March 15 (KUNA) - Sudanese Ministry of Finance signed an agreement to finance a power plant project in Al-Fulah, West Kordofan, with Kuwait Fund for Arab Economic Development (KFAED) for KD 25 million (USD 82 million).