Embassy News

  • August 28, 2017

ASEAN Committee in Kuwait (ACK) Ambassadors joint a called on Mr. Ghanim Al-Ghunaiman, Deputy Director General of Kuwait Fund for Arab Economic Development (KFAED)

On 09 August 2017, ASEAN Committee in Kuwait (ACK) Ambassadors joint a called on Mr. Ghanim Al-Ghunaiman, Deputy Director General of Kuwait Fund for Arab Economic Development (KFAED). Mr. Ghanim briefed the Ambassadors of about activities in Asia, especially the Kuwait Fund extended loans on concession to finance development projects in the region, including a project in Cambodia. The fund also provides technical assistance to finance the costs of the feasibility studies of projects, as well as the training of nationals of the borrowing countries. Term of approval for one country is one project per year, the interest rate depend on the project and the proposal has to submit directly to KFAED.

KFAED, the First Institution in the Middle East since 1961, took an active role in the international development efforts. H. H. Sheikh Sabah Khaled Al-hamad Al-Sabah, Deputy Prime Minister and Minister of Foreign Affairs, is the current Chairman of Board of Director of the KFAED.