The Kuwait Fund for Arab Economic Development Receives the Abdlatif Al-Hamad Development Award

The Kuwait Fund for Arab Economic Development has been awarded the Abdlatif Yousef Al-Hamad Development Award for the best development project in the Arab world.

The 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.

In this regard, Mr. Waleed Shamlan Al-Bahar, Acting Director General of the Kuwait Fund, stated in his speech to the attendees, “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 added, “Our 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.”

Additionally, Al-Bahar praised the achievements of Abdlatif Yousef Al-Hamad in the field of development work and the pioneering 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. He added that these contributions have 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.

It is worth noting that the Abdlatif Yousef Al-Hamad Development Award in the Arab World, presented by the Arab Fund for Economic and Social Development, is awarded for the best economic and social development project in the Arab countries.

The award aims to encourage, honour, and highlight 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.