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Arab states get highest aid for environmental projects

posted on 07/02/2003: 1794 views

Arab countries account for the highest aid received from the Kuwait Fund for Arab Development for environmental projects, a UAE paper reported yesteday. 'The Arab countries received 52.9 per cent of the total value of loans, while African countries received 17.8 per cent. The Asian and European countries received some 26.9 per cent, while Latin American and Caribbean countries received a mere 2.4 per cent,' said the Gulf News citing a Kuwaiti- based fund.

According to a statement by the Kuwait Fund yesterday during Enviro 2003, the 621 loans extended up to April 2002, totalled US$10.7 billion. The total number of countries benefiting from these loans reached 98, including 16 Arab countries, 40 African countries, 32 Asian and European countries, and 10 Latin American and Caribbean countries.

The energy sector received US$2.3 billion, accounting for 22 per cent of the total distribution, while 1.1 billion (accounting for 11 per cent) was advanced to the water and sewerage sectors. The aim of the Fund is to assist Arab and other developing countries in improving their economies and provide such countries with loans required for the implementation of their development programmes.

Projects with environmental preservation and indigenous resources development are considered to be major goals of the Kuwait Fund and hence such projects receive top priority in financing. The Fund finances projects that have a direct impact on the environment and resource development such as drinking water, sewerage projects, energy projects and agricultural projects.

The second Environment and Energy Exhibition (Enviro 2003) closed yesterday, reassuring international exhibitors that forthcoming exhibitions including IDEX and others will be held on schedule, organisers said. While Arab countries have committed to achieving the fine balance between oil and gas production and the environment, Enviro 2005 promises to be bigger and better. "Despite war fears in the area, the participation was strong. We are more than satisfied with the exhibitor and visitor turnout but like everything it could have been better," said Ali Al Tunaiji, acting director general of General Exhibitions Corp (GEC), the organisers.

"Many international companies have already confirmed their participation for the next Enviro and Energy show in 2005 which shows not only their interest in our exhibitions but their commitment to environmental and energy-related issues," he said, adding that a higher exhibitor turnout is expected at the next show. (The Emirates News Agency, WAM)


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