OPEC chief pledges Kuwait second largest contributor

Head of the OPEC Fund for International Development at the institution Dr. Abdulhamid Al-Khalifa emphasized on Wednesday importance of the outcomes of the Third Development Forum organized by the Fund for the third consecutive year. On the occasion of opening the fund new building in Vienna, Dr. Al-Khalifa said in a statement to KUNA that the topics discussed at the forum focused on the significance of sustainable development. He explained that the Development Forum addressed three main topics, enhancing infrastructure development and maximizing its benefit through technology and Artificial Intelligence (AI). It also discussed the necessity of enhancing focus on human resources, and last topic was importance of collaboration between donors and beneficiaries to achieve developmental goals. Dr. Al-Khalifa highlighted Kuwait's role within the Fund, affirming that in this regard it's the second largest contributor after Saudi Arabia in the Fund's budget as Kuwait's support for development is known worldwide, not only through OPEC but through other development funds. He pointed out the cooperation between Kuwait Fund for Arab Economic Development and OPEC fund in several projects in developing countries. He clarified that financial pledges by donors often take the form of commitments, but what matters most is altering these commitments into tangible actions on the ground. This implies knowledge-sharing activities in development countries to assist them in developing long-term and sustainable plans. Dr. Al-Khalifa provided a brief history of OPEC Fund, established in 1976 with Kuwait being one of the founding countries. Since then, the Fund engaged in developmental activities in nearly 125 countries worldwide. Source: Kuwait News Agency