Kuwait Fund: Ready for developmental cooperation with Syria and to contribute to reconstruction efforts

The Acting Director General of the Kuwait Fund for Arab Economic Development, Rashid Al-Badr, announced today the Fund’s readiness to resume development cooperation with sisterly Syria and to contribute to reconstruction efforts in solidarity with the Syrian people, in accordance with Kuwait’s directives and in close coordination with the Ministry of Foreign Affairs.

This statement came during Al-Badr’s address at the Syria Reconstruction Partners Roundtable, organized by the World Bank on the sidelines of the 2026 Annual Meetings of the World Bank Group and the International Monetary Fund in Bangkok, the capital of Thailand.

Al-Badr noted that over the past four decades, the Fund has provided 28 loans totaling more than 330 million Kuwaiti dinars (approximately $1 billion), which helped finance vital projects in the energy, roads, telecommunications, irrigation, water supply, and sanitation sectors. He emphasized that the development cooperation journey between the Kuwait Fund for Arab Economic Development and Syria dates back to 1969.

He added that during the Syrian crisis years, Kuwait, through the Fund, provided grants exceeding $375 million to support those affected within Syria and in neighboring host countries accommodating refugees, in collaboration with United Nations agencies and humanitarian partners.

He clarified that grant agreements were signed with the United Nations Office for the Coordination of Humanitarian Affairs (OCHA) in August and September last year to support the “Syria Humanitarian Fund.”

Al-Badr stated that the Fund recently held constructive discussions with relevant Syrian authorities regarding the resumption of institutional cooperation, including a proposal to form a joint technical, legal, and financial team to review previously funded projects, as well as to explore opportunities for cooperation in new development projects.

In a separate development, the Kuwait Fund for Arab Economic Development signed a memorandum of understanding with the Turkish Investment Fund (Türkiye Varlık Fonu) to enhance cooperation between the two institutions through coordinating activities and exchanging technical expertise, in accordance with the policies, priorities, and mandates of each entity.

In a statement to KUNA, Al-Badr said that areas of cooperation include a number of activities aligned with the operational policies and strategic objectives of both institutions, particularly in countries where both parties are active, with a focus on early identification of projects that could receive support from both institutions through financing, technical assistance, or both, in line with their respective policies and working methods.

He added that cooperation areas also include periodic consultations to coordinate operations and activities in fields allowing for such coordination, as well as the exchange of information, knowledge, and utilization of the expertise, resources, and capacities available to both sides.