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What (who) is KFAED - definition
Kuwait Fund for Arab Economic Development
The KFAED is a Kuwaiti independent public institution which assists Arab and other developing countries in developing their economies by granting them concessional loans for development programs and by financing pre-investment studies of ways to expand production capacities. Fund operations, originally restricted to Arab countries, were extended to cover other developing countries in July 1974. In March 1981, the objectives of the Fund were extended to include participation in the capital and resources of development institutions and other types of establishments. These recipients have included: the Arab Fund for Economic and Social Development, the African Development Bank, the African Development Fund, the Arab Bank for Economic Development in Africa, the Inter-Arab Investment Guarantee Corporation, the International Development Association, the International Fund for Agricultural Development, and the Special Program of Assistance for African Countries. KFAED was established in December 1961; its headquarters are in Safat, Kuwait.
Examples of use of KFAED
1. He said Kuwait has large contributions in Southern Sudan, citing the loans presented by the Kuwait Fund for Arab Economic Development (KFAED). The fund extended 18 loans for Sudan with a value of 106 million Kuwaiti Dinars (KD). KFAED is considering another KD 16–million loan to back power generating projects in Marawi Dam.
2. Products imported by Kuwait from Sri Lanka include tea, precious stones, jewelry and fruits, while it exports petroleum products to the island . Kuwait Fund for Arab Economic Development (KFAED) has carried out several projects in Sri Lanka such as construction of roads and building a power plant, and has constructed buildings at a university.
3. This view has been expressed in substance over the years through the establishment of the Kuwait Fund for Arab Economic Development (KFAED) in 1'62 and through its contribution to the founding of many regional and international organizations that aim to alleviate suffering and poverty, and to provide primary healthcare and education in developing countries. «We are looking forward to more achievements from the IDB and other Islamic developmental organizations,» he stressed.