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Kuwait plans to borrow KD 3-6bn

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KUWAIT: Kuwait plans to return to the global debt market this year and is expected to borrow between KD 3 to 6 billion during the current 2025/2026 fiscal year to finance development projects, a finance ministry official said on Monday. Director of Public Debt at the Finance Ministry Faisal Al-Muzaini said during a presentation of the new debt law that the funds will be borrowed from global and domestic markets to fund a number of development projects.

Kuwait issued a new debt law in March, putting a ceiling of KD 30 billion on public debt and maturity at 50 years. It will be the first time Kuwait returns to borrowing since 2017. Al-Muzaini however said the ratio of debt to gross domestic product (GDP) in Kuwait is minuscule at just 2.9 percent, whereas it is 60 to 70 percent in many countries. He said that the 2025-2030 five-year strategic borrowing plan will be determined by oil prices, global markets and risks associated with borrowing.

Al-Muzaini described the public debt law as one of the most important reform measures in the history of public finances for Kuwait. “This law sends a strong message of fiscal discipline and credibility to global markets. It is expected to contribute to enhancing Kuwait’s credit profile, drawing wider investor interest and advancing the country’s transition toward a diversified economy.”

Finance Ministry Undersecretary Aseel Al-Munaifi said the new debt law will stimulate the economic environment and promote foreign investments into Kuwait, besides accelerating economic growth and strengthening the banking system in Kuwait.

“The law will support the restructuring of government financing, reduce borrowing costs and strengthen Kuwait’s credit rating,” she said. “It reflects positively on the state’s borrowing capabilities under competitive conditions and helps build up financial reserves to meet commitments amid evolving economic circumstances.”

Al-Munaifi said a law regulating the issuance of sukuk, or Islamic bonds, is expected to be issued soon as it is being reviewed by authorities at the Council of Ministers. The debt law also allows the issuance of financial instruments and establishes a long-term legal framework for public borrowing.

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Kuwait students take part in International Chemistry Olympiad

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KUWAIT: A delegation of Kuwaiti students, supported by the Sabah Al-Ahmad Center for Giftedness and Creativity (SAGC), is participating in the 2025 International Chemistry Olympiad, which began Saturday in Dubai and will run through July 14. In a statement to KUNA, the center said the participation reflects its ongoing efforts to support talented students and enhance their scientific capabilities. The initiative is the result of close cooperation between SAGC, the Ministry of Education and Kuwait University.

SAGC, which operates under the umbrella of the Kuwait Foundation for the Advancement of Sciences (KFAS), stated that the delegation’s involvement is part of a broader plan to prepare students through a year-long intensive training program. The program includes both theoretical and practical components under the guidance of a distinguished team of international experts and trainers in the field of chemistry. The center noted that the goal of Kuwait’s participation is to showcase the capabilities of national talents and elevate the country’s presence in international scientific arenas. This initiative aligns with KFAS’ vision to promote scientific research, innovation and youth empowerment.

The center extended its best wishes for success to the participating students — Ali Behbehani, Ali Yousef, Manal Al-Kandari and Ghazal Al-Mutairi — expressing hope that they will achieve distinguished results and raise Kuwait’s flag proudly at global scientific forums. SAGC reaffirmed its commitment to investing in promising national minds, nurturing their skills, and fostering an environment that encourages excellence and scientific creativity. The center underscored its leading role in empowering national competencies and preparing future generations to represent Kuwait with distinction in international scientific competitions. — KUNA

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Kuwait-Egypt ties hailed as model of Arab cooperation

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KUWAIT: Egyptian Ambassador to Kuwait Osama Shaltout on Thursday described Egyptian-Kuwaiti relations as a model of Arab cooperation rooted in mutual respect and shared interests. Speaking during a reception hosted by the Egyptian Embassy to mark the 73rd anniversary of the July 23, 1952 Revolution, Shaltout highlighted the depth of bilateral ties and ongoing efforts to strengthen cooperation across various sectors. The event was attended by Kuwait’s Minister of Municipality and Minister of State for Housing Affairs Abdullatif Al-Meshari, along with senior officials and members of the diplomatic corps in Kuwait.

Shaltout pointed to the significant development witnessed in multiple areas of cooperation between the two countries, crowned by the historic state visit of His Highness the Amir Sheikh Meshal Al-Ahmad Al-Jaber Al-Sabah to Egypt in April 2024. He described the visit as a pivotal moment in reinforcing the strong and strategic partnership between Kuwait and Egypt.

Reflecting on the significance of the July 23 Revolution, Shaltout said the movement marked a turning point in Egypt’s modern history, laying the foundations for national independence, sovereignty, and comprehensive development. He added that the revolution also inspired liberation movements throughout the Arab world and Africa.

The ambassador expressed his appreciation to the government and people of Kuwait for their warm hospitality and support during his tenure, reaffirming Egypt’s commitment to advancing bilateral collaboration in ways that benefit both nations and further strengthen the bonds between the Egyptian and Kuwaiti peoples. — KUNA

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KEPS launches region’s first women-focused climate action guide

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KUWAIT: The Kuwait Environment Protection Society (KEPS) on Saturday launched a groundbreaking publication titled “Women’s Guide to Climate Action and Shared Responsibility,” marking a significant step by civil society to empower women and strengthen their role in addressing the climate crisis. KEPS Secretary General and book supervisor Jenan Behzad said in a press statement that the guide is the first of its kind in the region. It offers a comprehensive look into women’s contributions to environmental efforts, combining scientific insight, social analysis, and real-life experiences of pioneering Arab women in the fields of climate action and sustainable development.

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Behzad noted that the guide was prepared with contributions from 11 Arab female writers representing Kuwait, Egypt, Bahrain, the UAE, Tunisia, Lebanon and Iraq. The book is divided into five chapters, tackling key themes such as the impact of climate change on women, environmental and social responsibility, Arab women’s leadership in climate initiatives, and a practical guide for applying sustainability principles at home. She emphasized that KEPS aims, through this publication, to enrich the Kuwaiti and Arab environmental library with knowledge resources that reflect climate challenges from a gender-based perspective.

The guide also seeks to encourage women to take on active roles as essential partners in environmental protection. “Women are vital actors in crafting solutions and driving transformations toward a sustainable future, drawing on their leading roles within families and across social and political spheres,” Behzad said. She added that the book was produced in response to the recommendations of a workshop titled “Women between Climate Change and Sustainable Development,” held in cooperation with the National Association for Family Security. — KUNA

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