Kuwait-based fund touts success of endeavors around the world towards human development

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KUWAIT CITY, Dec 21, (Agencies): A Kuwait-based development fund said on Tuesday that projects it had undertaken worldwide helped speed human development, particularly in crucial sectors such as healthcare and education. Kuwait Fund for Arab Economic Development (KFAED) has become a “trusted partner” to many of the world’s most fledgling nations, its operations chief Waleed Al-Bahar said in a statement to mark the 60th anniversary of the fund’s inception.

Over the course of the last six decades, KFAED has diligently pursued development projects in some of the world’s most underdeveloped regions, the official highlighted, citing social development as one of the fund’s most primary goals. As a development-based fund, KFAED does not merely seek profit but aims to utilize its financial resources in a manner that would contribute towards overall development in countries that lag far behind, he added. Meanwhile, the Board of Trustees of the Dr. Abdulrahman Al-Sumait Prize for African Development held a meeting recently, headed by the Minister of Foreign Affairs, Minister of State for Cabinet Affairs, Chairman of the Board of Trustees, Sheikh Dr. Ahmed Nasser Al-Mohammad Al-Sabah, to discuss developments related to the award for this year in the field of health and selection criteria, the winners, in addition to their nomination, evaluation and selection processes.

The meeting dealt with other topics on the agenda, within the framework of the State of Kuwait providing support and encouragement to international organizations, individuals and institutions working for African development in exchange for exemplary and effective services, projects and programs in the three areas of the award, which are education, health and food security.

The Minister of Foreign Affairs, Minister of State for Cabinet Affairs and Chairman of the Board of Trustees of the Dr. Abdul Rahman Al-Sumait Prize for African Development, recalled the noble initiative of the late Amir of the State of Kuwait, Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah (may God rest his soul), in 2013 launching an annual prize of one million US dollars in support of the three vital and important areas.

The award and its clear indication of the wisdom of His Highness and his consideration of the importance of developing the role of education, health systems and the promotion of food security, which was clearly demonstrated and proven by the repercussions of the COVID-19 pandemic that swept the entire world, stressing the need to mobilize international cooperation in this framework. The award’s board of trustees, consisting of high international and local personalities, supervises the award’s procedures. The Kuwait Foundation for the Advancement of Sciences has been entrusted with supervising and managing the award and submitting its reports to the Board of Trustees. The Foundation also provides all forms of logistical and administrative support for the award for scientific progress.

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