Kuwait launches US$100mil emergency fund to repair conflict-damaged infrastructure

KUWAIT CITY: Kuwait announced on Sunday the launch of an emergency response fund with an initial capital of US$100 million, part of the country’s efforts to repair facilities damaged in the Iran conflict, reported Xinhua.

The Kuwait Emergency Response Fund, launched by the Kuwait Fund for Arab Economic Development (KFAED), aims to create an emergency financing framework and bolster national crisis response, Kuwaiti foreign minister Sheikh Jarrah Jaber Al-Ahmad Al-Sabah said at a press conference.

The minister said the fund will back Kuwait’s efforts to repair infrastructure damaged by what he described as “Iranian aggression”.

Acting director general of the KFAED Waleed Al-Bahar said the establishment of the fund implements a decision by the Kuwaiti cabinet, noting that the fund will assess financing requests and prioritise projects.

He also urged government institutions and the private sector to contribute to the new fund.

On Feb 28, the US and Israel launched joint strikes on Iran.

Tehran retaliated with missile and drone attacks targeting Israel and US military bases in neighbouring countries.