In continuation of a strong development partnership dating back to 1976, the Kuwait Fund for Arab Economic Development (KFAED) reaffirms its commitment to supporting the Republic of Maldives’ economic and social progress.
Over the years, KFAED has financed 15 key projects across vital sectors in Maldives, with a total value of approximately 58.1 million dinars (around $197.1 million).
Acting Director General of the Fund, Waleed Al-Bahar, emphasized the Fund’s significant role in supporting the Maldives, including efforts to rehabilitate infrastructure damaged by the tsunami, improve drinking water and sanitation systems, and expand several international airports—most notably the Velana International Airport (formerly Ibrahim Nasir Airport).
Al-Bahar announced that KFAED will take part in the official inauguration of the Velana Airport development project in the capital, Malé, next Saturday. He noted that the project aims to enhance tourism, improve air transport efficiency, and upgrade passenger and cargo facilities to accommodate future growth.
The airport development was implemented with joint financing from several regional and global development agencies, including the Saudi Fund for Development, the Abu Dhabi Fund for Development, the OPEC Fund for International Development, and the Maldivian government.
