(MENAFN- The Peninsula) By Sachin Kumar | The Peninsula
Doha: Qatar Fund for Development (QFFD) has provided QR8.15bn aid to several countries around the world since 2015, said a senior official of QFFD on the occasion of launch of its annual report.
Minister of State for Foreign Affairs and the Deputy Chairman of QFFD, H E Sultan bin Saad Al Muraikhi, launched the Annual Report for 2018, in a ceremony held in the diplomatic club on Sunday. Spokesperson of the Ministry of Foreign Affairs H E Lulwa Al Khater and other senior officials were present during the event.
'Qatar Fund for Development provided financial aid and effectively responded to humanitarian and development assistance in many countries. From 2015 till May 2019, the total aid amounted to QR8.15bn, which equates to $2.24bn, an annual growth rate of 19 percent, said Khalifa bin Jassim Al Kuwari, Director General of QFFD, speaking at the launch event.
The fund distributed QR2.1bn aid to 70 countries last year, he said. 'In 2018 alone, the Fund's assistance reached more than QR2.1bn or $585m, including $206.7m in humanitarian aid andQ $378.6m in development assistance. This aid was distributed geographically among 70 countries around the world, Al Kuwari said.
'The total value of aid to Arab countries amounted to $451.8m, whereas the aid to Africa totaled to $64m, Asia $28.5m and $17.9m was disbursed in aid to North and South America. In terms of international and multilateral organizations, the amount of assistance provided for core funding has reached $20.1m, he added.
Speaking about the Fund's work, Al Kuwari noted, 'The Fund's work is focused on empowering people through the promotion of education, health and economic development. This is visible in the increase in the annual allocations of these sectors which reflects our belief that these sectors serve as the foundation for human and economic development and a gateway for achieving peace and justice'
QFFD on behalf of the State of Qatar, has been able to finance projects with a total aid of $585m, including humanitarian and development assistance. The assistance was allocated to four main sectors: infrastructure, education, relief and economic development.
By focusing on these sectors, QFFD aims to promote sustainable development to realize its vision to give hope and promote peace and justice. In addition to providing assistance to many countries in the world, QFFD, through its various partnerships, has been able to fund UN organisations with $20.1m as means to explore innovative solutions to the problems facing the developing countries today especially populations living below the poverty line.
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