SEVILLE: The Asian Infrastructure Investment Bank (AIIB) and the Arab Fund for Economic and Social Development (AFESD) signed a strategic memorandum of understanding (MoU) on Tuesday aimed at enhancing cooperation and accelerating the implementation of sustainable infrastructure projects in jointly prioritized regions. The agreement was signed by AFESD Director General and Chairman Bader Al-Saad and AIIB President Jin Liqun on the sidelines of the Fourth International Conference on Financing for Development, currently underway in Seville, southern Spain.

In a statement, Al-Saad said the strategic partnership aligns with the Fund’s mission of supporting sustainable development in Arab countries in line with the United Nations Sustainable Development Goals (SDGs). “This collaboration will bolster our resources and strengthen our role in financing infrastructure, contributing to a more prosperous and sustainable future for the region,” he noted. He emphasized that the partnership underscores both institutions’ commitment to deepening regional cooperation and adopting innovative, demand-driven approaches to infrastructure financing.

AIIB President Jin Liqun described the partnership with the Arab Fund as “a significant milestone in our shared commitment to sustainable development.” He added: “By leveraging AIIB’s global infrastructure expertise and the Arab Fund’s deep regional knowledge, we can jointly implement impactful projects that tackle pressing issues such as climate change and regional interconnectivity.”

Jin noted that both institutions will collaborate to mobilize additional resources and promote innovation in infrastructure financing. He explained that the MoU lays out a comprehensive framework for cooperation, including joint project preparation and co-financing for both sovereign and non-sovereign sectors. Strategic priorities covered under the agreement include enhancing climate resilience, cross-border connectivity, digital infrastructure and sustainable urban development.

Founded in 2016, the Beijing-based AIIB is a multilateral development bank with a capital base of $100 billion and 110 approved members. It focuses on infrastructure financing that fosters a sustainable and inclusive global future. Established in 1972 and headquartered in Kuwait, the Arab Fund is a regional financial institution dedicated to supporting economic and social development in the Arab world.

The Fund finances projects in infrastructure, health, education, water, and public services through a range of instruments, including loans, grants and technical assistance. The Fourth International Conference on Financing for Development, hosted by Spain, kicked off Monday and runs through Thursday. The conference aims to advance solutions to global development financing challenges and develop a new framework for achieving the SDGs. — KUNA

KUWAIT: Kuwait is leading efforts to turn the Asia Cooperation Dialogue (ACD) into a full-fledged international organization, according to Assistant Foreign Minister for Asian Affairs, Ambassador Samih Hayat. The proposal, first introduced by Kuwait, was recently discussed at the ACD summit in Doha and received broad support from participating countries. Kuwait is now working closely with brotherly and friendly nations to advance this initiative and formalize the dialogue’s structure and role.

Ambassador Hayat made the announcement on the sideline of the 23rd anniversary celebration of the ACD, adding: “As our cooperation with the Asia Cooperation Dialogue began in 2002, today, we celebrate 23 years of a platform that has united Asia’s diverse cultures and regions through dialogue, mutual understanding, and shared development.”

He mentioned that transforming the Dialogue into a formal organization would grant it greater international weight—particularly as it includes member states both from within and outside Asia—enhancing its diversity and expanding its global influence. Ambassador Nasser Al-Mutairi, Secretary-General of the Asia Cooperation Dialogue (ACD) forum, stated that the proposal to transform the ACD from a dialogue platform into a formal international organization will be one of the central topics discussed during the upcoming ACD foreign ministers’ meeting, scheduled for August in Bangkok, Thailand.

Al-Mutairi noted that Kuwait has submitted a comprehensive working paper outlining its vision for this transformation. The proposal includes securing a stable and sustainable budget, boosting engagement from member states, and strengthening coordination with other regional organizations to avoid duplication and enhance complementarity. One of the key suggestions is also the creation of a dedicated think tank to explore mechanisms for institutional cooperation, especially considering the presence of similar organizations across Asia.

Among other key agenda items is the discussion of the upcoming presidency, as Thailand’s term comes to an end in December. A coordination meeting among the secretaries-general of these organizations is expected soon to align efforts. He also highlighted Kuwait’s long-standing support for the ACD, noting that it currently bears the financial costs of the Forum’s Secretariat, with some additional contributions from other member states. Kuwait has played a foundational role in the evolution of the ACD, having hosted the first ACD summit and initiated the creation of the Secretariat—just as it now advances the proposal to formalize the Dialogue as a fully-fledged organization.

KUWAIT: The Embassy of the Islamic Republic of Iran in Kuwait opened a condolence book, on Monday, to honor the victims of the recent aggression against Iran. The event was attended by officials, ambassadors, and media. Iranian Ambassador to Kuwait Mohammad Toutounchi expressed his appreciation for the positions of the Gulf Cooperation Council (GCC) countries, especially Kuwait, regarding the recent events, noting that Kuwait’s Foreign Minister had called his Iranian counterpart in a gesture that reflects the strength of bilateral relations, describing the presence of ambassadors at the embassy as “Noteworthy and Positive.”

The ambassador said in a statement that his country endured twelve days of intense aggression by the Zionist entity, joined by the United States in the final two days, explaining that Iran faced simultaneous attacks from countries equipped with nuclear capabilities and advanced technology, backed by NATO. He emphasized that the planners of this aggression had expected Iran to collapse within days. However, “The unity of the Iranian people inside and outside the country formed a formidable barrier.” He added that US intervention came only after ten days of failed efforts to achieve any ground breakthrough.

Toutounchi revealed that the number of victims exceeded 620 martyrs, with more than 5,356 wounded, including 13 children and 43 women, some of whom were pregnant, adding “Seven hospitals, six health centers, and dozens of ambulances were destroyed. These martyrs cannot be replaced whether they were children, military leaders, or academics, calling for the Zionist entity and the United States to be held accountable before international bodies to prevent such crimes from recurring.

Iraqi Ambassador to Kuwait Al-Manhal Al-Safi

Sudanese Ambassador to Kuwait Awadal-Karim Balla.

Regarding Iran’s nuclear program, the ambassador reiterated Iran’s commitment to the Nuclear Non-Proliferation Treaty (NPT), pointing out that the country’s nuclear program, which represents less than 3 percent of global peaceful nuclear activities, has undergone over 23 percent of international inspections. He argued that this high inspection rate indicates no deviation toward military objectives.

He disclosed that Iran had recently agreed to five rounds of indirect negotiations aimed at reviving the diplomatic track and ensuring the peaceful nature of its nuclear program. He also stressed that Iran’s response against US military and intelligence bases in Qatar was a legitimate act of self-defense and was not directed at any neighboring countries, affirming Iran’s full respect for their sovereignty. He noted that Iran had communicated with Qatari leadership to clarify its position, stating that military bases in neighboring countries used by US forces cannot be considered safe havens for launching attacks.

Meanwhile, the Iraqi Ambassador to Kuwait Al-Manhal Al-Safi expressed his deep gratitude to Kuwait’s leadership, government, and people for facilitating the return of over 3,000 stranded Iraqi citizens by issuing more than 3,500 transit visas in just 12 days. The Iraqi ambassador affirmed his country’s full solidarity with Iran and condemned the aggression, revealing that Zionist aircraft had breached Iraqi airspace, prompting Baghdad to file an official complaint with the UN Security Council.

In the same context, the Sudanese Ambassador to Kuwait Awadal-Karim Al-Rayah Balla offered his condolences to Iran, describing the incident as “A blatant and unacceptable attack.” He called for regional unity to confront shared challenges, emphasizing that the targeting of Iran threatens all free peoples in the region. He urged a joint response to protect stability and to revive the Palestinian cause as a priority. The Sudanese envoy also pointed to the double standards in the international system, calling for crises to be addressed through international legitimacy rather than the imposition of forceful agendas.