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27 August 12:00 AM

KFAED allocates 60% of its resources to supporting Arab youths' projects

The Kuwait Fund for Arab Economic Development (KFAED) will allocate – under its future plans – about 50% to 60% of its resources to supporting development and youths' projects in Arab states, the KFAED director general said.

Abdel-Wahab Badr made the remarks during the inauguration of a session on projects management organized in tandem with the Youth Public Authority.

The session is arranged within the framework of the Humanitarian Action Center for Arab Youth Award.

Badr underlined the fund's full support to Arab youths' projects to contribute to achieving development, especially in the field of small and medium sized enterprises (SMEs).

He expounded the importance of supporting youths who represent the largest percentage of the Arab and Kuwaiti population.

Director General of the Youth Public Authority Abdul-Rahman Al-Mutairi  said that the Humanitarian Action Center for Arab Youth Award was launched last September on the third anniversary of naming Kuwaiti Amir Sheikh Sabah Al-Jaber Al-Sabah  as "Humanitarian Leader" and Kuwait as the center of humanitarian action.

He said 30 trainees implementing 10 projects serving humanitarian purposes were opted out to take part in the session.

 The participants are from Cairo, Jordan, Oman, Yemen and Kuwait.

Three winning projects in the contest will be announced later on.

The first award stands at $33,000, the second $23,000 and the third $16,600.

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