The Kuwait Fund, the first development assistance fund to be set up by a developing country, was established in 1961 by the state of Kuwait. It was designed to assist Arab countries but its mandate was broadened in 1974 to include all developing countries. The fund’s operations are focused primarily on the sectors of agriculture and irrigation, transport and energy, communications, water and sewage.
The fund extends loans, guarantees and grants, and provides technical assistance to provincial governments, international and regional development institutions, and corporate entities that undertake projects jointly owned by a number of developing countries. It participates in the capital of development institutions and manages grants extended by Kuwait to developing countries.