Kuwait Fund for Development Hosts Economics and Finance Students [...]

As part of its sustained cooperation with educational institutions and private universities, the Kuwait Fund for Development hosted a delegation of students from the Gulf University for Science and Technology at its headquarters yesterday. The students received an introductory lecture about the nature of the Fund's work in the field of developmental and humanitarian aid in over one hundred countries worldwide.

During the session, students from the Economics department learned about the Fund's role as the economic arm of Kuwait's foreign policy, exploring the Fund's vision and strategic objectives for developing its financial resources, which have enabled it to be fully self-reliant since 1986, financing its developmental activities independently.

Mr. Ayad Al-Gharaballi, Deputy Director of Operations for Central, East, and South African Countries at the Kuwait Fund, detailed the Fund's operational scope, including its geographical and sectoral spread and the processes for issuing concessional loans, grants, and technical aid. He also emphasized the Fund's initiatives within Kuwait, particularly its significant role in supporting the housing issue.

Subsequently, Mr. Tareq Al-Munayes, Economic Advisor at the Kuwait Fund, highlighted that all contractual agreements between the Fund and borrower nations include stringent safeguards for the Fund's assets, treating them as sovereign loans that are never nullified. Instead, these obligations are rescheduled to alleviate their economic and social impacts but remain obligatory and payable.

Dr. Osama Al-Falah, Head of the Department of Economics and Finance at Gulf University for Science and Technology, explained that the visit aims to deepen students' understanding of the economic concepts taught in their courses, thereby enriching their academic experience, and adding an element of practical enjoyment. He noted the Fund's unique approach to project financing and self-funding, which has established it as a model for numerous other institutions and funds.