$2b fund proposed for Asia’s development

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Asian Cooperation Dialogue Summit, held in Kuwait from October 15 to 17

The Emir of Kuwait at the Asia Cooperation Dialogue Summit in Kuwait City on October 17 proposed setting up a $2 billion fund to fight poverty and to help build up the economy in least developed countries in Asia. Sheikh Sabah Al Ahmad Al Sabah also said that Kuwait will donate $300 million to the fund.

Sheikh Sabah proposed that a pan-Asian development agency, like the Asian Development Bank, manage the programme that will finance development projects.

The Emir said that optimal realisation of the potential of Asian countries and their cooperation is in the realisation of economic integration, which will enable the establishment of strong and robust economies, able to meet challenges and overcome obstacles. “In addition, it will accomplish a qualitative move in raising the standards of living of the peoples of the continent.

“It should be noted, that the greatest challenge we face is the accelerating population growth in our continent, that has exceeded 60 per cent of the total population of the world. This places a burden on our efforts and development plans to achieve the development and progress of our continent, the Emir said.

“Consequently, this makes it incumbent upon us to work without delay in devising the necessary plans for the optimum utilization of human and natural resources in our Asian continent,” he added.

Sheikh Sabah said that the modern world in general, and the Asian continent in particular, face serious problems, such as poverty, inadequate healthcare, illiteracy, wars and environmental problems.

“They are obstacles that hampered development in our continent and delayed the fulfillment of what we desire for our countries and peoples,” he added.

“In this context, I am pleased to announce the contribution of the State of Kuwait to that program in the amount of 300 million dollars. It is my hope that we can provide the proposed amount, through contributions from Member States of the ACD Forum.”

The Emir added that “the state of Kuwait, keen on furthering its cooperation with the Asian countries, is willing to join the Asian Development Bank Group.”

Several leaders including the rulers of Qatar, Bahrain and Bangladesh are attending the two-day summit along with representatives from other ACD countries  including the ten ASEAN member states.

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Reading Time: 2 minutes

Asian Cooperation Dialogue Summit, held in Kuwait from October 15 to 17

The Emir of Kuwait at the Asia Cooperation Dialogue Summit in Kuwait City on October 17 proposed setting up a $2 billion fund to fight poverty and to help build up the economy in least developed countries in Asia. Sheikh Sabah Al Ahmad Al Sabah also said that Kuwait will donate $300 million to the fund.

Reading Time: 2 minutes

Asian Cooperation Dialogue Summit, held in Kuwait from October 15 to 17

The Emir of Kuwait at the Asia Cooperation Dialogue Summit in Kuwait City on October 17 proposed setting up a $2 billion fund to fight poverty and to help build up the economy in least developed countries in Asia. Sheikh Sabah Al Ahmad Al Sabah also said that Kuwait will donate $300 million to the fund.

Sheikh Sabah proposed that a pan-Asian development agency, like the Asian Development Bank, manage the programme that will finance development projects.

The Emir said that optimal realisation of the potential of Asian countries and their cooperation is in the realisation of economic integration, which will enable the establishment of strong and robust economies, able to meet challenges and overcome obstacles. “In addition, it will accomplish a qualitative move in raising the standards of living of the peoples of the continent.

“It should be noted, that the greatest challenge we face is the accelerating population growth in our continent, that has exceeded 60 per cent of the total population of the world. This places a burden on our efforts and development plans to achieve the development and progress of our continent, the Emir said.

“Consequently, this makes it incumbent upon us to work without delay in devising the necessary plans for the optimum utilization of human and natural resources in our Asian continent,” he added.

Sheikh Sabah said that the modern world in general, and the Asian continent in particular, face serious problems, such as poverty, inadequate healthcare, illiteracy, wars and environmental problems.

“They are obstacles that hampered development in our continent and delayed the fulfillment of what we desire for our countries and peoples,” he added.

“In this context, I am pleased to announce the contribution of the State of Kuwait to that program in the amount of 300 million dollars. It is my hope that we can provide the proposed amount, through contributions from Member States of the ACD Forum.”

The Emir added that “the state of Kuwait, keen on furthering its cooperation with the Asian countries, is willing to join the Asian Development Bank Group.”

Several leaders including the rulers of Qatar, Bahrain and Bangladesh are attending the two-day summit along with representatives from other ACD countries  including the ten ASEAN member states.

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