KUWAIT, July 29 (KUNA) -- The Kuwaiti Fund for Arab Economic Development (KFAED) signed on Tuesday a grant agreement worth USD 500,000 with the Organization of Islamic Cooperation (OIC) to contribute to enhancing science and technology in Africa.
The fund stated in a press release that the project aims to develop human resources in all member states of the OIC, in addition, it contributes to achieving a number of sustainable development goals, namely health and well-being, quality education, affordable and clean energy, and decent work and economic growth.
Acting Director General of KFAED Waleed Al-Bahar, and the OIC Assistant Secretary General for Science and Technology Aftab Khokher signed the agreement.
The KFAED was established in 1961 with the aim of assisting Arab countries, starting with an amount of KD 50 million (approximately USD 163.6 million), and then in 1974 it expanded its activities to African countries to finance both Arab and African nations. (end) md.sas