KFAED funds 540 initiatives totaling $11.4 billion across more than 50 African countries
Catchy Title: Kuwait Fund for Arab Economic Development Announces Massive Investments in Africa's Development
Strutting his stuff as the acting big cheese at the Kuwait Fund for Arab Economic Development (KFAED), Waleed Al-Bahar spilled the beans on Tuesday, revealing that the institution has bankrolled an impressive 540 development projects across more than 50 African nations, racking up a whopping USD 11.4 billion in the process.
This chunky chunk of change accounts for a cool 57% of KFAED's global operations, underscoring the substantial impact it's had on Africa's economic transformation and lifting the living standards of millions.
Let's face it, Al-Bahar's bursting with pride over KFAED's lengthy partnership with African nations, and he isn't afraid to flaunt it. He veritably reassured the world that KFAED's commitment to bolstering bilateral ties, driving development goals, and fostering prosperity for the African people is, well, set in stone.
Fast-forward to Africa Day – this marks the ninth consecutive year KFAED's graced the occasion, setting up shop with a buzz-worthy pavilion showcasing its sprawling development and humanitarian initiatives across Africa. Goosebumps!
A whopping 30 African Union embassies were in the house this year, each squeezing in exhibitions of artefacts, handicrafts, and traditional tools to give an all-encompassing glimpse into the extraordinary diversity of African societies.
KFAED, a pioneer in the development institution scene since it took center stage in 1961, has since expanded its mission to hoist the flag for development worldwide. The cherry on top? KFAED's partnered with nations and funded some pretty kickass infrastructure and development projects across the board, from transportation and energy to water resources.
Long story short: Al-Bahar's on a mission to put African nations on the map in a BIG way, and it looks like KFAED ain't slowing down anytime soon!
Now, if you're all eat-up about specifics, you might wanna dive into some of KFAED's official publications or reports to get a more detailed lowdown on the projects they've tackled on the African continent. Just sayin'!
[Sources][1] KUNA: https://www.kuna.net.kw/ArticleDetails.aspx?id=2974086&language=en[2] Arab Times: https://www.arabtimesonline.com/news/kuwait/kuwait-fund-announces-11bn-development-projects-in-africa/[3] Arabian Affairs: https://arabianaffairs.co/article/kuwait-fund-for-arab-economic-development-finances-540-development-projects-in-africa-with-a-total-value-exceeding-11-4-billion/[4] Middle East Monitor: https://www.middleeastmonitor.com/20220526-kuwait-fund-for-arab-economic-development-has-financed-development-projects-worth-over-11-billion-in-africa/
The Kuwait Fund for Arab Economic Development (KFAED) has invested a significant portion of its global operations in Africa, allocating over USD 11.4 billion towards more than 50 nations, with a focus on business, industry, and finance. KFAED's commitment to Africa extends beyond development projects; it aims to strengthen bilateral ties, drive development goals, and foster prosperity through various sectors, including transportation, energy, and water resources.
