YEMEN Press Agency

Kuwait establishes Arab investment fund with capital of $ 200 million

BEIRUT, Jan. 20 (YPA) – The State of Kuwait, on Sunday, announced in the 4th Arab Economic and Social Development Summit, held in the Lebanese capital, Beirut, the establishment of an investment fund in the technology and digital economy fields, with the participation of the private sector.

Kuwaiti Deputy Prime Minister and Foreign Minister Sheikh Sabah al-Khalid said that the establishment of the fund came at “a sublime initiative of the Emir of Kuwait.”

Al-Khalid added that the Fund’s capital amounted to $ 200 million, and that Kuwait contributed $ 50 million of it, proposing to entrust its management responsibility to the Arab Fund for Economic and Social Development.

In the same context, Qatar’s Minister of Finance, Ali al-Emadi, announced Qatar’s $ 50 million contribution to the fund.