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Volume :5 Issue : 17 1979      Add To Cart                                                                    Download

SOME ASPECTS OF THE EXPERIENCE OF THEKUWAIT FUND IN THE FIELD OF AGRICULTURAL DEVELOPMENT IN THE LESS DEVELOPED ARAB COUNTRIES

Auther : By Dr. M. Sultan Abu Ali

 

 The Kuwait Fund for Arab Economic Development was established in December 1961. Its activities and services were restricted till July 1974 to development projects in Arab countries yet since date its operations were expanded to include all developing countries with an increase of capital from K.D.200 m. to K.D. 1000 m.

The Kuwait Fund aims at extending development aid to developing countries in the form of loans, grants, guarantees and technical assistance. This goes mainly as direct loans of parallel financing or jointly with other organizations. The fund extends special grants too for financing technical and economic feasibility studies and offers consultation services concerned with the technical, financial economic and legal aspects of development projects.

One of the Fund’s major concerns deals with agricultural development taking into account that most developing countries are to a great extent agricultural societies with very high percentage of population working in agriculture. Thus agricultural development financing is directed at raising the living standard of the rural population (over 80% in most cases), increasing agricultural production in order to reduce imports of food stuffs and consequently improve balance of payments, and increase labour opportunities in the rural sector to curb rural migration to the city which has become an alarming phenomenon in most developing countries. Together with financing agricultural development projects, economic profitability studies for these projects and technical assistance, the Fund also finances associated social, health and housing services, food supply and nutrition, agricultural guidance for farmers and last but not least extends agricultural credit facilities through the local agricultural credit banks.

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May 18, 2017

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