A Kuwait-based development fund said on Tuesday that projects it had undertaken worldwide helped speed human development, particularly in crucial sectors such as healthcare and education.

Kuwait Fund for Arab Economic Development (KFAED) has become a “trusted partner” to many of the world’s most fledgling nations, its operations chief Waleed Al-Bahar said in a statement to mark the 60th anniversary of the fund’s inception.

Over the course of the last six decades, KFAED has diligently pursued development projects in some of the world’s most underdeveloped regions, the official highlighted, citing social development as one of the fund’s most primary goals.

As a development-based fund, KFAED does not merely seek profit but aims to utilize its financial resources in a manner that would contribute towards overall development in countries that lag far behind, he added.

Source: Kuwait News Agency