The Kuwait Fund for Arab Economic Development (KFAED) has announced that it has been awarded the Abdlatif Yousef Al-Hamad Development Award for the best development project in the Arab world.
The award spotlights successful development projects that have addressed existing problems and contributed to enhancing economic and social capacities in the Arab world. The first edition of the award was launched in 2022.
KFAED’s award was presented by the Arab Fund for Economic and Social Development during the 2024 Annual Joint Meetings of Arab Financial Institutions held in Cairo.
Waleed Shamlan Al-Bahar, Acting Director General of the Kuwait Fund, commented: “Receiving the Abdlatif Yousef Al-Hamad Development Award for the Bahr Al-Baqar project not only reflects the success of the Kuwait Fund in its developmental efforts in the Arab region but also represents a celebration of the collective efforts of Arab development and financial institutions that have contributed to changing the lives of millions of people in the Arab world and beyond.”
Al-Bahar said that its development efforts are “far from over,” as developing countries still need the support of the international community to achieve their developmental ambitions.
“Furthermore, the environment still requires our care, innovation, and commitment to leave a legacy that will inspire future generations,” said Al-Bahar.
Al-Bahar also highlighted the achievements of Abdlatif Yousef Al-Hamad in the field of development work and the role he played in establishing the foundations of Arab joint collaboration over the past six decades in the field of economic and social development at the regional and international levels.
According to Al-Bahar, these contributions enhanced Kuwait’s international standing as “one of the most significant supporters of development” through the provision of developmental and emergency relief assistance to Arab and other developing countries.
