Abdullah Al-Hamad Al-Saqer and Brothers Contribute $3 Million
As part of its continued support for private sector institutions’ national initiatives, the Kuwait Fund for Arab Economic Development announced today that Abdullah Al-Hamad Al-Saqer & Brothers Company has contributed $3 million to the Kuwait Emergency Response Fund, launched on July 5 last year, to enhance the country’s readiness and improve the efficiency of the response system for emergencies and critical situations.
In a statement, the Fund noted that this initiative reflects the company’s commitment to its national role and its dedication to supporting efforts aimed at strengthening Kuwait’s readiness, thereby enabling relevant authorities to respond swiftly and effectively to various challenges and emergency conditions.
The Fund clarified that private sector contributions constitute a fundamental pillar in supporting the national response system, as they provide resources and capabilities that enhance response speed, raise readiness levels, and reinforce a partnership and integration approach among various state institutions and the private sector in facing challenges.
Abdullah Al-Hamad Al-Saqer & Brothers Company is one of Kuwait’s most prestigious national companies, founded in 1895, with a history spanning more than 130 years across several vital sectors. The company’s activities are diverse, covering banking and investment, oil and gas, energy, engineering, industry, telecommunications, insurance, information technology, and the automotive sector, alongside its local and international investments and partnerships with major global companies, reflecting its status as an active national partner in supporting economic development and strategic projects in the State of Kuwait.
The Emergency Response Fund was established by the Kuwait Fund for Arab Economic Development following approval by the Council of Ministers, with the Fund tasked with managing and overseeing its operations, aiming to enhance institutional resilience, improve national response efficiency, and empower relevant authorities to address emergency challenges effectively and efficiently.
In a press statement, the Fund emphasized that this initiative reflects the bank’s commitment to its national and social responsibilities, embodying its belief in the importance of public-private partnership in supporting national initiatives aimed at strengthening the country’s readiness and enabling relevant authorities to face various challenges and emergency conditions efficiently and effectively.
The Fund added that the bank’s contribution supports the capabilities of the national response system by providing the necessary resources to enhance readiness and improve response efficiency for emergency situations, thereby reinforcing the concept of national partnership and strengthening the country’s resilience in facing various challenges.
The Fund also announced that the Kuwait Finance House (KFH) has contributed $1 million to the Kuwait Emergency Response Fund.
In a press statement, the Fund clarified that this contribution underscores the Kuwaiti private sector’s interest in supporting priority national initiatives, reflecting KFH’s commitment to contributing to enhancing the country’s readiness by supporting efforts aimed at improving response efficiency for various emergency situations.
The Fund added that KFH’s contribution supports the capabilities of the national response system by providing the necessary resources to enhance readiness and improve response efficiency for emergency situations, thereby reinforcing the concept of national partnership and strengthening the country’s resilience in facing various challenges.
