Kuwait Fund for Arab Economic Development announces readiness to resume development cooperation with Syria - Sarmad

(KUNA) — The Acting Director General of the Kuwait Fund for Arab Economic Development, Rashid Al-Badr, confirmed on Wednesday the Fund’s readiness to resume development cooperation with the Syrian Arab Republic, a fraternal country, and to contribute to reconstruction efforts in solidarity with the Syrian people, in accordance with directives from the State of Kuwait and in close coordination with the Ministry of Foreign Affairs.

This statement was made by Al-Badr, as conveyed in a press release issued by the Kuwait Fund during his participation in 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 stated that over the past four decades, the Fund has provided 28 loans totaling more than 330 million Kuwaiti dinars (approximately one billion US dollars), which helped finance vital projects in the energy, roads, telecommunications, irrigation, water supply, and sanitation sectors. He noted that the development cooperation between the Kuwait Fund for Arab Economic Development and Syria dates back to 1969.

He added that during the Syrian crisis, the State of Kuwait, through the Fund, provided grants exceeding 375 million US dollars to support those affected within Syria and in neighboring host countries, 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 mentioned 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 and to explore opportunities for cooperation in new development projects.

He outlined that potential areas of cooperation, according to priorities set by Syrian authorities, include rehabilitating energy sector infrastructure, developing water and sanitation networks, reconstructing roads and bridges, and supporting social infrastructure such as schools and health facilities, as well as providing technical assistance and building institutional capacity.

Al-Badr emphasized the Kuwait Fund’s commitment to continuing work in close coordination with the World Bank Group, the International Monetary Fund, the United Nations, and partners in the Arab Coordination Group to ensure that support is integrated and aligned with Syria’s reconstruction priorities and economic recovery.

He pointed out the Fund’s openness to exploring ways to participate in the proposed multi-donor trust fund to support Syria’s reconstruction, which will be managed by the World Bank. He expressed the Kuwait Fund’s welcome for receiving further details on the fund’s structure and governance mechanisms, noting that the proposal will be studied in coordination with the Ministry of Foreign Affairs.

Al-Badr also expressed the Kuwait Fund’s aspiration to enhance cooperation with Syrian authorities and international partners to support recovery and reconstruction efforts and contribute to achieving a stable and sustainable future for the fraternal Syrian people.

The Syria Reconstruction Partners Roundtable, organized by the World Bank, was attended by numerous officials and representatives of international financial and development institutions.