Kuwait City: Acting Director General of the Kuwait Fund for Arab Economic Development (KFAED) Waleed Al-Bahar announced that the fund has financed 540 development projects across more than 50 African countries, with the total investment exceeding USD 11.4 billion. This announcement was made during the Africa Day celebration, which was organized by the ambassadors and heads of African diplomatic missions accredited to Kuwait in commemoration of the African Union's founding. According to Kuwait News Agency, the fund's operations in Africa account for approximately 57 percent of its global activities. Al-Bahar highlighted that these projects have significantly impacted the economies of African countries and improved the living conditions of their people. He expressed pride in KFAED's strong relationships with African nations and emphasized the fund's commitment to enhancing bilateral relations and fostering progress and development for the continent's people through ongoing cooperation. Al-Bahar also noted tha t KFAED has been participating in the Africa Day celebration for the ninth consecutive year, featuring a pavilion dedicated to showcasing its development and humanitarian efforts in Africa. This year's event included participation from over 30 African Union embassies, which displayed cultural and historical exhibits, collectibles, and craft tools representing the various professions and activities unique to each country. KFAED, established in 1961 as the first development institution in the Arab region, expanded its activities to include developing countries starting in 1974. To date, its contributions have reached 105 countries worldwide.
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