$217 Million in Contributions to the Emergency Fund

The Kuwait Fund for Arab Economic Development announced the latest contributions from local companies to the Kuwait Emergency Response Fund, including Al-Wurba Insurance, National Industries, Agility, Abdul Mohsin Al-Babtain, and Aayan Group, with a combined contribution of $12 million. This brings the total contributions from banks and local companies to approximately $217 million as of today. By the end of last Thursday, total contributions had reached nearly 60 million Kuwaiti dinars, equivalent to $200 million, raising the total announced contributions by the Kuwait Fund to about $217 million as of yesterday, Sunday.

Al-Wurba Insurance and Reinsurance Company announced that its board of directors approved a contribution of $1 million (equivalent to 308,000 dinars) to the Kuwait Emergency Response Fund. In a statement to the stock exchange yesterday, the company said the contribution reflects its commitment to corporate social responsibility and support for national initiatives launched by the Kuwait Fund for Arab Economic Development.

The Kuwait Fund noted that Agility Group’s contribution amounted to $2 million for the Kuwait Emergency Response Fund, launched on July 5 last year, to enhance national readiness and improve Kuwait’s capacity to respond immediately to exceptional circumstances. The Fund explained that Agility’s contribution reflects its belief in the importance of public-private partnership in supporting national priorities, embodying its commitment to national and social responsibility, and contributing to strengthening the country’s readiness and supporting the sustainability of vital services and facilities during emergencies. The contribution involves participation from various group companies, including Agility for General Warehousing, National Real Estate Company, Sultan Center for General Trading and Contracting, Metals and Manufacturing Industries Company, United Projects for Aviation Services (U-PAC), and Global Clearing House Systems, in line with a strategy reflecting the group’s commitment to supporting national initiatives and enhancing their developmental impact.

The Fund also announced a total contribution of $5 million by National Industries Holding Group and its subsidiaries, represented by Noor Financial Investment Company and Al-Dorra National Real Estate Company, to the Kuwait Emergency Response Fund, launched on July 5 last year to enhance national readiness and strengthen Kuwait’s ability to respond immediately to challenges and exceptional circumstances. The Fund clarified in a statement that the contribution from National Industries Holding Group and its subsidiaries was distributed as follows: $2 million from National Industries Holding Group, $2 million from Noor Financial Investment Company, and $1 million from Al-Dorra National Real Estate Company. The Fund emphasized that this contribution embodies the national role played by the group and its subsidiaries, and their continuous commitment to supporting efforts aimed at enhancing the country’s preparedness and efficiency in facing emergencies, thereby contributing to protecting the nation’s assets, enhancing the efficiency of vital facilities, and ensuring the continuity of basic services efficiently and effectively.

The Fund further noted that Abdul Mohsin Al-Babtain Company contributed $3 million to the Kuwait Emergency Response Fund, launched on July 5 last year, to enhance national readiness and improve Kuwait’s capacity to respond immediately to exceptional circumstances. The Fund explained that this initiative exemplifies the corporate and national responsibility of Abdul Mohsin Al-Babtain Company, and its belief in the importance of joint efforts to support national initiatives aimed at enhancing the country’s overall readiness and enabling relevant authorities to handle various emergency situations efficiently and effectively.

On the other hand, Aayan Real Estate Company announced a $1 million contribution to support the Kuwait Emergency Response Fund, launched on July 5 last year to enhance national readiness and improve the efficiency of immediate responses to challenges and exceptional circumstances, thereby strengthening Kuwait’s capacity to face various crises efficiently and effectively. The Fund stated in a press release that Aayan Group’s contribution embodies the private sector’s commitment to supporting national initiatives and reflects the importance of complementary roles among various entities in facing challenges and promoting the public interest. This contribution also supports the objectives of the Kuwait Emergency Response Fund, raises the level of national readiness, and enhances the ability to handle emergency situations and ensure the continuity of services and vital facilities. The contribution by Aayan Group and its subsidiaries, including Aayan Holding for Leasing, East Gate Real Estate Company, and Mubarrad Holding, comes in line with their commitment to supporting national initiatives and enhancing the role of the private sector in contributing to efforts that serve society and strengthen the country’s readiness.