$6 million in private sector contributions to the Emergency Response Fund
The Kuwait Fund for Arab Economic Development announced today that several Kuwaiti private sector institutions and companies have contributed a total of $6 million to the Kuwait Emergency Response Fund, launched on the 5th of this month, with the aim of enhancing national readiness and strengthening the state’s capacity to confront challenges and exceptional circumstances.
In a statement, the Fund said that the Badr Nasser Al-Kharafi Group (BNK) Holding contributed $1 million, “in appreciation of the Kuwait Emergency Response Fund initiative and in commitment to supporting its efforts in line with its national and social responsibility.” It noted that this contribution stems from the importance of supporting national initiatives aimed at protecting the country and enhancing its capabilities to face challenges, as well as fostering cooperation among various state institutions and the private sector.
The Fund also stated that Al-Khalij Cables and Electrical Industries Group contributed $2 million, “in a bid to contribute to the success of the Kuwait Emergency Response Fund initiative.” It added that this contribution embodies values of solidarity and shared responsibility, and reflects a commitment to strengthening the state’s readiness and ability to handle various exceptional circumstances and emergencies.
It further noted that the Kuwait Stock Exchange and Kuwait Clearing Company contributed $2 million, “in a bid to contribute to the success of the Kuwait Emergency Response Fund initiative, and in belief that the concerted efforts of all state institutions and the private sector constitute a fundamental pillar for enhancing the capacity to confront crises efficiently and effectively.”
The Fund also reported that National Investments Company contributed $1 million, “believing that the concerted efforts of all state institutions and the private sector constitute a fundamental pillar for enhancing the capacity to confront crises efficiently and effectively,” and reaffirming the importance of supporting national initiatives aimed at protecting the country and enhancing its capabilities, as well as contributing to the success of the Kuwait Emergency Response Fund, in line with national and social responsibility.
The establishment of the Fund comes as part of an initiative proposed by the Kuwait Fund for Arab Economic Development, which received approval from the Council of Ministers. The Kuwait Fund for Arab Economic Development will manage the Fund and exercise full oversight over its operations, with the goal of creating institutional resilience capable of responding immediately to emerging emergencies through a comprehensive national vision.
The Kuwait Fund for Arab Economic Development renewed its call for all government institutions, public authorities, private sector companies, and national financial institutions to actively contribute to supporting this strategic fund, given its role in bolstering national readiness and enhancing developmental security.
