Private sector pours $12 mln into Kuwait emergency fund

KUWAIT CITY, Aug 8: Private sector institutions are racing to contribute to the Kuwait Emergency Response Fund in support of the national initiative to enhance Kuwait’s preparedness, with an additional $12 million added to the total donations. The Ministry of Social Affairs has opened the door for charitable societies and foundations wishing to donate to the fund. The ministry’s Cooperative Societies and Foundations Department explained in its letter that the invitation is based on the establishment of the fund, which is managed by the Kuwait Fund for Arab Economic Development (KFAED), to support efforts to enhance the speed of response to emergencies and mitigate their effects

The department emphasized that the initiative embodies the importance of partnership and institutional integration among various entities and contributes to unifying national efforts. KFAED recently announced that stc contributed a total of $5 million, while Arzan Financial Group, Kuwait Real Estate Company, and International Financial Advisors Holding Company each contributed $1 million, for a total of $3 million. The Fund noted three cash contributions, each valued at $1 million, from Heavy Engineering Industries and Shipbuilding Co., in addition to an inkind contribution of $1 million from Mohammed Bin Yousef Al-Nisf & Partners Co. and Warba Insurance and Reinsurance Co. It affirmed that the continued addition of private-sector institutions to its list of supporters reflects the growing national partnership and embodies the private sector’s commitment to supporting priority national initiatives

By Fares Ghaleb Al-Seyassah/Arab Times Staff