50 years of economic development
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50 Years of EconomicDevelopment
50 Years of Economic Development
Presented by
Salem Al - Qallaf
Yousef Al-Bader
Prepared byAlyaa Al-Mousawi
The State of KuwaitThe State of Kuwait
Kuwait Kuwait Kuwait as a country was established in the early 17th
century, and has been ruled by Al-Sabah Family since they were elected by the rest of the Kuwaiti Families.
Before the exploration of oil in 1934, Kuwait was a mercantile center & port.
The people of Kuwait depended mainly on the sea to earn a living.
Kuwait - Discovery of OilKuwait - Discovery of Oil
February 1938, Oil was discovered in Burgan Oil Field.
Kuwait - IndependenceKuwait - Independence
Kuwait got its independence on June 17, 1961. During the rule of his highness The late Amir of Kuwait Abdullah Al-Salem Al-Sabah.
Sheikh Abdullah’s reign was so central to the evolution of modern Kuwait and its constitution.
The date on which he had ascended the throne in 1950 (February 25) was designated National Day.
Establishment of Kuwait Fund
Establishment of Kuwait Fund
Established in 1961 as a bilateral financial – aid agency.
1st national institution founded by a developing country to help developing nations.
- Initial capital = KD 50 million (US$ 165 million) - Geographical coverage = Arab Countries.
Today 2011Our current capital KD 2 billion (US$ 6.6 billion)Geographical coverage = 104 countries worldwide
Kuwait Fund - CapitalKuwait Fund - Capital
Initial Capital = 50 million K.D. 100 million K.D. In 1963 , 200 million K.D. In 1974, 1000 million K.D. (Geographical
distribution was expanded to cover all non-Arab countries requiring development assistance in addition to Arab countries).
In 1981, 2000 million K.D. Today , The Kuwait Fund still retains the 2000
million K.D. in terms of official capital, in addition to two reserved capitals surpassing 2000 million K.D. (The geographical distribution : 104 countries. )
KUWAIT FUND CONTRIBUTIONS TO DEVELOPMENT INSTITUTIONS UP TO
30-01-2011
KUWAIT FUND CONTRIBUTIONS TO DEVELOPMENT INSTITUTIONS UP TO
30-01-2011Institution Paid Up (Million US$) Committed (Million
US$)
Arab Fund for Economic & Social Development578578
Arab Bank for Economic Development in Africa49.69449.694
African Development Bank Group
•African Development Bank•African Development Fund
11.706117.070
213.100249.586
Inter – Arab Investment Guarantee Corporation6.86.8
International Development Association117.000117.000
International fund for agricultural Development (IFAD)
•IFAD Special Program for Sub-Saharan African Countries
51.80056.000
77.088171.53
Arab Gulf Program for United Nations Development Organizations.
10.00050.000
Total1,1021,361
Fund ActivitiesFund Activities
The Scope of our operations can be extended to any country that requires development & financial assistance.
Types of assistance- Loans- Grants & Technical Assistance- Contributions to Multilateral Development
Institutions
Geographical Distribution of Fund’s Loans
Geographical Distribution of Fund’s Loans
South East Asia
&Pacific
South, Center &East Africa
West African Countries
Central Asia & European Countries
Latin America & the Caribbean Countries
Geographical Distribution of Fund’s
Loans (30\1\2011)
Geographical Distribution of Fund’s
Loans (30\1\2011)RegionsNo. of
CountriesNo. of LoansAmount in
(Million US$)%
Arab Countries163038,41954,90
East, South Asia & The Pacific Countries
191562.95819,22
West African Countries
191381,5049,81
Central, South & East African Countries
211071,1247,33
Central Asian & European Countries
16570.9576,24
Latin American & The Caribbean Countries
11380.3722,42
Total10279215,335100%
Geographical Distribution of Fund’s Loans
(30\1\2011)
Geographical Distribution of Fund’s Loans
(30\1\2011)
Arab Countries
Central Asian & European Countries
Central, South & East African Countries
East, South Asia & The Pacific Countries
Latin American & The Caribbean Countries
West African Countries
Sectoral Distribution of Fund’s Loans
Sectoral Distribution of Fund’s Loans
Agriculture
Transportation
Power
IndustryWater & Sanitation
Social
Telecommunications
Development Bank
Sectoral Distribution of Fund’s Loans 30/1/2011Sectoral Distribution of Fund’s Loans 30/1/2011
SectorNo. Of LoansLoan Amount in million US$
%
Transportation3335,31034,62
Energy1374,05026,41
Agriculture1171,86712,18
Water & Sewage771,4259,29
Industry611,1507,50
Social200.5753,75
Development Banks180.4582,99
Miscellaneous150.1561,02
Telecommunication140.3442,24
Total79215,335100
Sectoral Distribution of Fund’s Loans 30/1/2011Sectoral Distribution of Fund’s Loans 30/1/2011
34.62
26.41
12.18
9.29
7.5
3.752.99
2.24
1.02
Transportation Energy Agriculture
Water & Sewage Industry Social
Development Banks Telecommunication Miscellaneous
UN Development Mandate (1974)
UN Development Mandate (1974)
It stipulates that industrial as well as oil producing countries allocate 0.7% of their GDP to development assistance.
The UN Development Goals
The UN Development Goals
Achieve Universal Primary Education.
Promote Gender Equality & Empower Women.
Reduce Child Mortality.
Improve Maternal Health.
Combat HIV, Aids , malaria & other diseases.
Ensure Environmental Sustainability. Develop a Global Partnership for Development
Eradicate Extreme Poverty & Hunger.
Project CycleProject Cycle 1. Project / Loan Status: Pipeline
1.1. THE REQUEST
1.1.1. The Borrower's country should be a developing country. However, countries whose economies are in transition may be considered as eligible. No geographic, ethnic, religious, caste or cultural barrier restricts benefiting from the Fund's loans and assistances.
1.1.2. The request for assistance must be made by the governmental authority responsible for international cooperation and external borrowing.
Project CycleProject Cycle 1.1.3. The requesting authority should indicate that the project is a priority project to the
government.
1.1.4 The project should have a strong public sector element and be of a developmental nature. The Fund's assistance is not limited to a particular sector. The project may be in any of the following sectors: infrastructure, agriculture, irrigation, transport, communications, energy, water supply, sewage treatment, education and health.
1.1.5 The project, if not in the education and health sectors, should be supported by a detailed techno-economic feasibility study. The feasibility of the project must be demonstrated by cost-benefit analysis and the calculation of an internal economic rate of return, with an indication of sensitivity to changes in parameters. For projects in the health and education sectors, it is sufficient to demonstrate the feasibility of the project through technical and social data, in addition to evidence establishing the need for the project. The studies of the project should include the proposed components, the cost estimates in local and foreign currencies, and the proposed financing plan. abidance to the "Kuwait Fund Requirements for the Preparation of a Feasibility Study" is advisable. It is preferable that the services of an independent specialized consultant be obtained for the preparation of feasibility studies.
Project CycleProject Cycle 1.2. THE PRELIMINARY APPROVAL:
1.2.1. A team is formed by the Operations Department of Fund to prepare a memorandum regarding the project, summarizing the available information thereof.
1.2.2. If the recommendation of the team is positive, and if the studies are adequate, the Fund's management submits, on approval of the Board's Internal Loans Committee, a recommendation to the Board of Directors to, preliminarily, approve the participation in the financing the project.
1.2.3. Upon the Board's preliminary approval, the management of the Fund may proceed to consider the project for further evaluation.
Project CycleProject Cycle 1.3. THE APPRAISAL:
1.3.1. A mission, composed usually of an engineering adviser, an economic adviser and a legal adviser, visits the country to appraise the project. The mission would visit the project site, collect all necessary project and sector information and, if satisfied, negotiate and initial a draft loan agreement before the end of the visit. The draft loan agreement would state the amount of the proposed loan, the lending terms and other conditions based on the findings of the mission.
1.3.2. Under normal circumstances, and in accordance with the regulations of the Fund, the amount of the loan would not exceed 50% of the total cost of the project and would not include financing of local costs of goods produced in the territories of the borrower.
1.3.3. Upon its return, the mission would prepares a project appraisal report which includes information about the economy of the country, the sector, the implementing agency, the project, the economic and financial viability of the project (if required), and the lending terms and conditions. Such report would be discussed in a meeting attended by all the technical staff of the Fund.
Project CycleProject Cycle 1.4. THE FINAL APPROVAL:
1.4.1. Following discussion and approval of the project appraisal report by the Fund's management it is submitted to the Board of Directors with appropriate recommendations concerning participation in financing the project.
1.4.2. If satisfied, the Board of Directors grants the required approval. Following that, a date is fixed for the official signature of the of the loan agreement which usually takes place in the borrower's country.
Project CycleProject Cycle 2. Project / Loan Status: Active:
2.1. THE EXECUTION:
2.1.1. The concerned government authority would invite offers from consultants for the provision of the required consulting services. Following the preparation of construction bidding documents and approval thereof by the Fund, bids may be invited from contractors for the construction of the project or from suppliers for the procurement of the required goods. Under normal circumstances, and in accordance with stipulations of the Loan Agreement, all biddings should be competitive, either through open international bidding or through restricted bidding.
2.1.2. The concerned government authority is expected to obtain the prior approval of the Fund on each implementation step, including, the evaluation of offers, texts of contracts, etc.
Project CycleProject Cycle
2.1.3. Based on the signed and approved contracts, withdrawal applications for disbursements from the proceeds of the loan would be issued by the authorized representative of the borrower. The Fund would disburse, in accordance with the Fund's "Disbursement Procedures", through either direct payments to the beneficiary for construction of works and for services, which is the most common case, or through Letters of credit for procurements, or through reimbursement to the borrower against evidence of payment already made to the beneficiary.
2.1.4. The Fund expects to receive periodic reports from the borrower regarding the progress of the implementation of the project.
2.1.5. During the progress of the project, and especially whenever a problem arises, the Fund would mount a follow-up mission to visit the project site and discuss pending matters. Also, the fund may invite representatives of the borrower and of the co-financiers if any, to meet in Kuwait to discuss outstanding matters.
Project CycleProject Cycle 3. Project / Loan Status: Completed
3.1. THE COMPLETION:
3.1.1. Upon completion of the project, the Fund expects to receive a final report from the Borrower.
3.1.2. After completion of the project, and if there is an unutilized uncommitted balance in the Loan, the Fund usually cancels the said balance and adjusts the repayment schedule accordingly. Under special circumstances, and subject to the approval of the management of the Fund, the borrower may utilize the said balance to finance additional works and goods directly related to the project, and clearly provided for in the Loan Agreement.
3.1.3. Under normal circumstances, the borrower starts repayment of the Loan after the expiry of a grace period. The said grace period, as indicated in the Loan Agreement, starts from the dare of the first disbursement and lasts one year beyond the construction period of the project, thus allowing the borrower to repay the loan through deriving benefits from the project.
Geographical distribution of Loans – Central Asian & European
Countries
Geographical distribution of Loans – Central Asian & European
Countries
Country NameNo. Of LoansLoan Amt. (in million US$)
Moldova16.460
Malta324,126
Lithuania115,640
Kazakhstan113,916
Kyrgyzstan219,332
Cyprus983,562
Tadjikistan459,840
Georgia233,932
Turkmenistan10.623
Belarus117.340
Geographical distribution of Loans – Central Asian & European
Countries
Geographical distribution of Loans – Central Asian & European
Countries
Bulgaria141,82
Uzbekistan588,084
Albania673,338
Azerbaijan233,310
Turkey12360,968
Bosnia and Herzcgovina484,320
Total55956,617
Albania –Grants & Technical AssistanceAlbania –Grants &
Technical Assistance
Country Name
AlbaniaF.S. for the Elbasan-Berat-Tepelene Axis Road
F.S. and preliminary Design for the Durres – Plepa Junction Road
Albania - LoansAlbania - Loans
Country Project NameAmount in Million US$
AlbaniaTransport9,163
Irrigation Rehabilitation9,942
Elbasan – Shafetan National Road
8,333
Irrigation & Drainage Rehabilitation Phase II
11,900
Irrigation & Drainage Rehabilitation Phase III
13,600
The Durres Bypass and the Vora Interchange Project on
the Durres – Vora Road
20,400
Azerbaijan –Grants & Technical AssistanceAzerbaijan –Grants & Technical Assistance
Country Name
AzerbaijanInstitutional Support
F.S. of Kurdamir Udjiar Road
Azerbaijan - LoansAzerbaijan - LoansCountry Project NameAmount in Million US$
AzerbaijanThe Improvement of Alyat Gazi Mohamed
Road
18,011
Baku Bypass Highway Project
15,300
Belarus – Grants & Technical AssistanceBelarus – Grants &
Technical Assistance
Country Name
BelarusF.S. for Extension and Rehabilitation of Poly. Micro. Yarn Production Plan
F. S. for Rehabilitation of Thermal Power Station of Minsk tes-3
Belarus - LoansBelarus - Loans
Country Project NameAmount in Million US$
BelarusSvetlogorsk Polyester Plant Development
17,340
Bosnia – Grants & Technical Assistance
Bosnia – Grants & Technical Assistance
Country Name
BosniaT.A. Study for Water Supply & Sanitation in City of Sarajevo
F. S. for the Sarajevo - Gorazde Road
Bosnia & Herzegovina - Loans
Bosnia & Herzegovina - Loans
Country Project NameAmount in Million US$
Bosnia and Herzegovina
Bor Bank Financing Facility20,740
Upgrading 4 roads and Reconstruction of Musala
Bridge in Mustar
10,200
Water Supply & Sanitation Urgent Works in The
Federation of Bosnia & Herzegovina
17,680
Kakanj – Donja Gracanica Highway Project
35,700
Kazakhstan – Grants & Technical Assistance
Kazakhstan – Grants & Technical Assistance
Country Name
KazakhstanT.A & F.S for the Basic Infrastructure Utilities for the Expansion Area of Astan
Kazakhstan - LoansKazakhstan - Loans
Country Project NameAmount in Million US$
KazakhstanAralsk Water Supply (Aral Sea Region)
13,919
Malta – Grants & Technical Assistance
Malta – Grants & Technical Assistance
CountryName
MaltaF.S. : Increasing Agricultural Production
Malta -LoansMalta -Loans
Country Project NameAmount in Million US$
MaltaFisheries Development299
Malta “B” Power Station Extension
11,220
Delimara Power Station (Project Phase I)
12,608
Moldova – Grants & Technical AssistanceMoldova – Grants & Technical Assistance
CountryName
MoldovaF.S. for the Diabetic Medical Center
Moldova - LoansMoldova - Loans
Country Project NameAmount in Million US$
MoldovaDrinking Water6,460
Slovakia - Grant and Technical Assistance
Slovakia - Grant and TechnicalAssistance
CountryName
SlovakiaStudies related to Reassessment & Utilization of Ground Water Resources
Tadjikistan – Grants & Technical Assistance
Tadjikistan – Grants & Technical Assistance
Country Name
TadjikistanF.S. for Kulyb – Kalauhum Road Project
Tadjikistan - LoansTadjikistan - Loans
Country Project NameAmount in Million US$
TadjikistanShkev – Zigar Road17,000
Rehabilitation of Dushanbe Electricity Distribution Network
12,240
Dangara Valley Irrigation Project –
Phase II
13,600
Shurabad – Shagon Road Project (Kulyab
– Kalaikhumb Corridor)
17,000
Turkmenistan - Grant and Technical Assistance
Turkmenistan - Grant andTechnical Assistance
Country Name
TurkmenistanT.A. for Special Program for Baby Food Production
Ashgabat – Turkmenbashi Road
Turkmenistan - LoansTurkmenistan - Loans
Country Project NameAmount in Million US$
TurkmenistanAshgabat – Mary Road Rehabilitation
0.623
Ukraine – Grants & technical AssistanceUkraine – Grants & technical Assistance
Country Name
UkraineChernobyl Shelter Fund
Chernobyl Shelter Fund 2nd contribution
Uzbekistan - Grant and Technical Assistance
Uzbekistan - Grant and TechnicalAssistance
Country Name
UzbekistanRehabilitation of Irrigation Network and Drainage System Project in Djizakh and
Syrdarya
Institutional Support to the Uzbek Fund for Reconstruction and Development
Uzbekistan - LoansUzbekistan - LoansCountry Project NameAmount in Million US$
UzbekistanImprovement of Water Supply of Nukus and Urgench
19,948
Tashkent – Angren Railway Line Electrification
21,080
Rehabilitation & Equipping of 171 Medical Emergency
Department
20,400
Rehabilitation & Equipping of A Cardio Surgery Building
Project
11,900
The Rehabilitation & Construction of Irrigation Net.
And Drainage System in Djizakh and Syrdarya
14,756
Cyprus - LoansCyprus - LoansCountry Project NameAmount in Million
US$
CyprusNew Nicosia- Limassol Highway3,842
Vasilikos - Pendaskinos for Irrigation & Potable Water Supply
8,295
Limassol Bypass-Ypsonas Erimi Link and Rural Roads Improvement
8,160
Southern Conveyor Project for Water Resources (development stage I)
9,996
Larnaca – Nicosia Highway and Improvement of Larnaca – Kophinou
Road
13,600
Southern Conveyor Project14,620
Larnaca – Nicosia Highway and Larnaca Kophinou Highway
8,500
Palkori – Agros Road3,310
Erimi – Evdhimou Highway First Phase of the new Limassol – Phaphos
Highway
13,238
Turkey - LoansTurkey - LoansCountry Project NameAmount in Million US$
TurkeyBosphorus Transmission Line Crossing
8,801
Istanbul Main Water Transmission Pipeline
9,269
Izmir Water Supply19,635
Rehabilitation of Two Sections of Trans Turkey Highway
13,664
Rehabilitation of Urfa – Akinci Sector of the Trans Turkey Highway
17,000
Turkey Railway19,633
Rehabilitation & Extension of the Water Network of Greater Ankara
19,471
Greater Istanbul Water Supply Yesilcay System
79,961
Greater Istanbul Water Supply Yesilcay System
64,055
Reconstruction & Development of Earthquake Affected Regions
54,400
Turkey - LoansTurkey - Loans
Country Project NameAmount in Million US$
Turkey The Reconstruction & Development of
Earthquake Affected Region (Sewerage
Project)
26,180
Supplementary Loan for Financing the Reconstruction & Development of
Roads
28,900
Lithuania - LoansLithuania - Loans
Country Project NameAmount in Million US$
LithuaniaExpansion of Gas Transmission and
Distribution Networks
15,640
Kyrgyzstan - LoansKyrgyzstan - Loans
Country Project NameAmount in Million US$
KyrgyzstanOsh Telecommunications Development
8,793
Transmission Line for Electrification of Osh District
(Phase One)
10,540
Bulgaria - LoansBulgaria - Loans
Country Project NameAmount in Million US$
BulgariaSofia Airport Development41,820
Georgia - LoansGeorgia - Loans
Country Project NameAmount in Million US$
GeorgiaRoads Rehabilitation16,933
Tbilisi Roads Rehabilitation
17,000
Kuwait Government GrantsKuwait Government Grants
Country Grant NameAmount in Thousand US$
KazakhstanConstruction of the New Governmental
Building
10,000
Chernobyl : The Nuclear Disaster
Chernobyl : The Nuclear Disaster
On April 26, 1986 the worst nuclear accident in the history of atomic industry took place at Chernobyl Nuclear Power Plant in the ex Soviet Union. The fourth reactor of the power plant exploded and caught fire. As a result of the explosion, the core of the reactor, the protection barriers, and the safety systems were completely destroyed. The reactor emitted millions of curies of radioactive particles into the atmosphere contaminating the land for miles around.
In November 1986, the USSR Council of Ministers approved the construction of a confinement design called “shelter”; which was built in a great hustle and under tremendously tough conditions resulting in a number of serious problems.
In 1997, the leaders of the seven industrial states decided to assist Ukraine in facing the disaster that erupted at Chernobyl. And, the Chernobyl Fund was established.
Towards the end of 1998, the participation of various countries in the said fund amounted to US$ 4 million.
The Kuwait fund was entrusted to pay the said participation from its own resources, and to administer the Kuwaiti grant.
In August 2007, and as an outcome of the international tender, a contract was signed with an international consortium to construct the “New Safe Confinement” for an updated cost of Euro 728 millions.
The Chernobyl Fund asked for additional financing. The pledge of the state of Kuwait was increased by US$ 2millions , and paid from the resources of the Kuwait Fund.
The Kuwait Fund believing in noble aims of international cooperation to save human communities, administers the Kuwaiti Grant and maintains continuous efficient follow up of all the Chernobyl Fund projects, operations, and budget.
Renovation of Water Supply, Storm Drainage and Sewerage Projects in the
city of Pyongyang, the Capital of Democratic People’s Republic of Korea
Renovation of Water Supply, Storm Drainage and Sewerage Projects in the
city of Pyongyang, the Capital of Democratic People’s Republic of Korea
These two projects are an example of the integrated water management that the Fund seeks to finance.
The first part aims at reduction of severe shortage of Potable water for about 3 million people in the city, while the second part aims at the protection of the environment and public health of inhabitants against pollution of waste water.
The Project has been implemented over two stages, the first one accomplished the rehabilitation and improvement of the city water supply system through procurement of equipment and machinery needed for the rehabilitation of the six existing water purification plants.
The next stage of the project included the rehabilitation and improvement of waste water system in the city.
The total estimated cost of these two projects was about 110 million US$.
Rehabilitation of Water Supply Systems in two towns, Santiago De Cuba and
Holguin in the Republic of Cuba
Rehabilitation of Water Supply Systems in two towns, Santiago De Cuba and
Holguin in the Republic of Cuba
These two projects aims at the reduction of the present shortage of potable water through the rehabilitation of the two water supply systems in the two cities of a total population around 800 thousand inhabitants.
The two projects include the rehabilitation of the water purification plants, the pumping stations, storage tanks as well as the laying of water distribution pipelines and the installation of house water meters.
The cost of these two projects was estimated at about 58US$.
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