LOC08:25
05:25 GMT
Kuwait Fund for Arab Economic Development (KFAED) chief Abdulwahab Al-Bader
KUWAIT, March 28 (KUNA) -- Kuwait Fund for Arab Economic Development (KFAED) chief Abdulwahab Al-Bader said that the Kuwait III talks aim to illustrate "sincere eagerness" to ease the suffering of 12.5 million Syrians displaced internally and externally as a result of a conflict that has entered a fifth year.
The decision to host the third edition of an international donors' conference for Syria for a third consecutive year is thanks to the directions of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, the KFAED Director General told KUNA.
"This reflects His Highness the Amir's exceptional humanitarian role based on tackling poverty, improving living standards and building economic and political stability," said Al-Bader.
Al-Bader hopes the March 31 event does much to achieve its goals, as did the former two which helped raise a whooping total of USD 3.9 billion in much-needed pledges for aid.
Over the two events, Kuwait contributed USD 800 million, and Al-Bader expressed pride at the success of the event ahead of its third year.
At the upcoming event, Kuwait expects to host some 78 nations and over 40 organisations and NGOs.
The UN's decision to name His Highness the Amir "Humanitarian Leader" and Kuwait "Humanitarian Centre" are testament to these intentions, he outlined.
He went on to point out the supplementary role played by the Kuwait Fund, the first institution in the Middle East to have taken an active role in international development efforts and the first in the world established by a developing nation.
It was formed in the full belief of providing assistance to nations in need, and aiding them in achieving economic development through providing them with easy loans, technical assistance and consultancy services for projects of priority, he explained.
For Syria in precise, the KFAED has contributed 28 loans worth a total of around USD 1.15 billion, including most recently USD 51 million in 2010 for a drinking water project in Damascus. (end)
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