The Kuwait Fund for Arab Economic Development was founded in 1961 with the aim of helping to finance development projects in the third world.
Projects chosen include industry and agriculture, transport and communications and power supplies.
Unfortunately most of its resources were plundered during the occupation and a great deal of important work was lost. It is, however, getting back on its feet and a number of projects have already received approval. The objective of the organization is to support and promote scientific research projects. KIA also plays a leading role in the country's financial sector. The organization has been much acclaimed overseas for its business acumen and it was the fruits of its sound investment policy which bolstered the Kuwait government during the months of occupation.