The Climate Report 2017/18 - Page 51



First, let me point out that Kuwait Fund’s support to
Syrian refugees is part of the support provided by the
State of Kuwait. In this respect, Kuwait contributed
US$ 1.6 billion, including US$ 265 million from
Kuwait Fund. These resources were allocated to help
Syrian refuges in neighboring countries (Lebanon,
Jordan, Iraq, Turkey, Egypt), and provide them with
basic social services, including education and health,
among others.
including for project feasibility studies and capacity
building.
Also, the Fund extends grants to governments and
institutions to assist them in financing activities
capable of strengthening their capacity to own and
independent their development operations. The Fund
provides certain grants to conflict and post conflict
countries to finance basic services such as health,
education, safe drinking water, and other humanitarian
assistance.
6.
As regards the Syrian Recovery Trust Fund (SRTF),
its purpose is to reduce the suffering of the Syrian
people and provide them with essential services in
sectors such as water, food, health, education,
electricity, among others.
How many years now has KFAED
been in operation?
Kuwait Fund was established at end of 1961, few
months after Kuwait gained its independence; and the
Fund started its operations in 1962. Kuwait Fund is
the first national development institution in the world
established by a developing country to assist other
developing countries in their development efforts.
Today the Fund is approaching its 56th anniversary.
7.
The governance structure of the SRTF incudes a
Steering Board, a Management Committee, a
Management Unit, and a Trustee (KfW).
The State of Kuwait is a member of the Management
Committee responsible for directing, monitoring,
evaluating, and approving proposed projects. It is
chaired by the Trustee (KfW), and meets on a
quarterly basis.
During this time how many loans
have been provided?
Over the last 55 years and until end of fiscal year
(31/03/2017), the Fund extended 935 loans with a
value of about US$ 20 billion. These loans were
committed for financing priority development projects
in various economic and social sectors, including
agriculture, transport, energy, water and sanitation,
health and education, among others.
8.
Total contributions to the SRTF amounted to EUR
168.2 million as at December 2016, contributed by 12
countries, including 18.05 million from Kuwait.
10. Finally, the Kuwait Fund for Arab
Economic Development is clearly
going from strength to strength, can
you tell us what we might expect
from the Fund in the future?
How many countries have you
assisted to date and do you hope to
add to this number?
The Fund has gained broad experience in
development cooperation through its partnerships with
developing countries, development institutions, and
other stakeholders. The Fund will use this experience
to support its partners in developing countries and
help them in implementing their development
operations in an efficient and effective manner. All
developing countries are committed to achieving the
all-inclusive Sustainable Development Goals (SDGs),
agreed by the General Assembly of the United
Nations in September 2015, and to be achieved by
2030. The Fund supports these goals and will
cooperate closely with its partners to help them
achieve the desired goals.
Over the last 55 years and up to end of fiscal year
(31/03/2017), the Fund has committed financing for
development projects in 106 countries, including 16
Arab countries, 40 African countries, and 50 countries
in South-East Asia, Central Asia and Europe, and
Latin America and the Caribbean. We will consider
requests from eligible countries, especially low and
middle-income countries.
9.
The Climate Report is aware of
KFAED’s support of the Syria
Recovery Trust Fund, can you
explain to us to what extent you are
involved and the help you provide.
49

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