Kuwait Fund for Arab Economic Development participates in multiple projects aimed at preserving the environment. These projects focus on the transition towards green energy, and the development of the environment industry in an effort to solve climate change.
Climate change involves the international community, it’s become a priority to find solutions all around the world. Its negative impact will threaten not only the environment, but all aspects of life; from changing weather patterns, food scarcity, and rising water levels, leading to catastrophic floods. The increasing exploitation of the Earth’s natural resources threatens climate stability and the extinction of many species.
Therefore, Kuwait Fund aims to participates in the United Nations’ 17 goals for sustainable development by the year 2030.
Low emission economy
Kuwait Fund continues its contributions regionally and internationally. It encourages countries to implement projects that will preserve natural resources and protect the environment.
The Fund contributes to financing development projects based on specific goals such as reducing greenhouse gases, creating ecosystems with low carbon emissions, and replacing fossil fuels with renewable energies.
All to ensure the sustainability of energy supplies for future generations by preserving limited resources and exploiting them with high efficiency, and contributing to achieving sustainable development goals.
Multiple environmental projects supported by Kuwait Fund
Budhi Ganga hydroelectric station project in Nepal
The Fund contributed to the financing of the Budhi Ganga hydroelectric plant project in the Republic of Nepal, with a KD 5 million-worth loan, equivalent to around USD 16 million.
This project contributes to the social and economic development of Nepal by increasing its electrical production capacity. The plant is located in the districts of Ashlam and Bajura, along the course of the Budhi Ganga River. It is linked to the Siti River, located in the far western region, 830 km away from the capital, Kathmandu.
Improved Resilience to Transboundary Sand and Dust Storms in Kuwait and Iraq Project
Along with regional and international scientific and environmental entities, Kuwait Fund financed the Improved Resilience to Transboundary Sand and Dust Storms in Kuwait and Iraq Project,in cooperation with the United Nations Human Settlements Program (UN Habitat). The grant is worth KD 4 million (equivalent to around USD 12.8 million), and this project will focus on reducing the occurrence of sand and dust storms.
Most of these storms originate from the Southern regions of the Republic of Iraq, and they directly affect Kuwait and its neighbouring countries.
The project aims to address the climatic, geological, and chemical causes that lead to the formation of these sand and dust storms, and to provide a safe and clean environment for the affected population now and in the future.
Wind Energy Project for electricity generation in Jordan
Within the framework of adopting alternative energy projects, the Fund contributed to managing the State of Kuwait’s grant to implement development projects in the Hashemite Kingdom of Jordan, including the financing of a wind energy project in the Ma’an region. The total cost of the project is approximately 150 million USD, equivalent to approximately 44 million Kuwaiti dinars, to be disbursed over a period of 2 years. This project enables the development of electrical energy, which will reduce the dependence on fossil fuels and hence reduce pollution.
Merowe Dam Project in Sudan
The Fund contributed to providing three loans to the Merowe Dam project in the Republic of Sudan, with a total financing of KD 62 million, equivalent to approx. USD 198.4 million. The project’s aim is to meet the demand for electrical energy, and to reduce the cost of electricity production by constructing a dam and a hydroelectric station on the Nile River.
The Kuwait Fund has financed several projects related to the electrical power generation field in many nations in an effort to preserve natural resources, and to protect the environment.
The Fund’s interest in financing such projects reflects its aspiration to contributing to the sustainable development of our planet by reducing greenhouse gases, achieving energy efficiency, and switching to clean fuels and renewable energy.
About the Kuwait Fund for Arab Economic Development
The Kuwait Fund For Arab Economic Development is the first institution in the Middle East that took an active role in the international development efforts.
The Kuwait Fund extends Loans on concessionary term to finance development projects in the developing countries. 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. In addition, the Fund subscribes in the capital of international and regional development institutions. Today, the Kuwait Fund forms a solid bridge of friendship and solidarity between the state of Kuwait and the developing nations.
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