KUWAIT CITY, Feb 7, (KUNA): Kuwait has been contributing to global development for more than 50 years and has been “a very important partner to the bank,” World Bank (WB) Vice-President for Concessional Finance and Global Partnerships, Axel van Trotsenburg said here Monday.
“We are very grateful for the government of Kuwait’s financial contribution to (International Development Association) IDA’s 16th replenishment and for its valuable contributions to the policy discussions held during the replenishment negotiations,” he said in a release at the conclusion of a Kuwait visit.
“Broadening the dialogue and bringing new development partners’ perspectives is key to the learning agenda of the development community, from how to support the poorest countries achieve the Millennium Development Goals (MDGs), to broader development issues such as growth to climate change,” said van Trotsenburg.

Donor
Kuwait has been a donor to the IDA, the World Bank’s Fund for the Poorest for the past 50 years. Bank management has recently concluded negotiations for the 16th replenishment of IDA, which will fund development projects and programs in low-income countries in the period between July 2011 and June 2014, including countries of the Arab world, such as Yemen, Djibouti and Mauritania.
The purpose of the WB vice-president’s visit was to discuss ways to further deepen partnership between Kuwait and the World Bank in support of the world’s poorest countries.
During his stay here, he met Kuwaiti Minister of Finance Mustafa Al-Shamali, who reiterated Kuwait’s commitment to international development efforts.
During the meeting, Al-Shamali said: “The government of Kuwait will not spare any effort to support development work for the betterment of people’s lives.” He expressed his appreciation to the work done by the IDA in bolstering development projects for the benefit of poorer countries of the world.
IDA is one of the world’s largest sources of aid. IDA provides support for health and education, infrastructure and agriculture, and economic and institutional development to 79 of the least developed countries.
About 20 percent of IDA funding is provided as grants, the rest is in the form of interest-free, long-term credits. Since its inception in 1960, IDA has provided some $234 billion in support to low-income countries, averaging $14 billion a year in the last two years. IDA currently has 50 donor countries, creating opportunities for transfer of knowledge and expertise and ensuring a focus on results.