Bayan Bait Al-Tamwil: $13 million for the Response Fund and $6 million for repairing damaged power stations
Kuwait Finance House (KFH) announced its support for the national initiative launched by the Kuwait Fund for Arab Economic Development (KFAED) to establish the Kuwait Emergency Response Fund, through a financial contribution of $13 million, as well as a request to contribute an additional $6 million to repair damaged power stations. This underscores its commitment to its national and social responsibilities and its support for efforts to enhance the country’s readiness and capacity to confront exceptional circumstances and protect vital infrastructure.
On this occasion, KFH Board of Directors Chairman Hamad Al-Marzouq emphasized that supporting strategic national initiatives is an integral part of the bank’s institutional mission and developmental role. He noted the bank’s continued contributions to initiatives that enhance security and stability and support sustainable development, driven by its values of social responsibility, community partnership, and pioneering national role.
Al-Marzouq expressed KFH’s pride in being an active partner in major national initiatives that contribute to strengthening the country’s readiness and capacity to face various challenges and changes. He explained that the $13 million contribution to support the Kuwait Emergency Response Fund and the $6 million for repairing damaged power stations stem from the bank’s belief in the importance of the fund as a sustainable institutional framework for directing resources toward strategic priorities, thereby enhancing emergency response efficiency and the sustainability of essential services. He added that the bank is committed to its national role vis-à-vis the state, particularly in exceptional circumstances.
KFH reaffirmed its commitment to continuing support for national initiatives and projects with strategic impact, which enhance integration between state institutions and the private sector, contribute to serving the national interest, and support the path of sustainable development in Kuwait.
- Launching a strategic initiative in collaboration with the Ministry of Justice to settle the debts of indebted individuals, with the bank contributing more than $61 million since 2019.
The Kuwait Emergency Response Fund was established by a Cabinet decision and is managed by the Kuwait Fund for Arab Economic Development (KFAED) with an initial capital of $100 million. Its objective is to enhance national readiness and support the state’s capacity to confront exceptional circumstances and challenges.
The fund works to mobilize and direct financial resources toward priority projects and programs, particularly the rehabilitation of damaged infrastructure and supporting national efforts to address the impacts of damage inflicted on the infrastructure and vital facilities in the State of Kuwait.
