Kuwait is set to partake in a meeting of the steering committee of the democratic transition fund due in London on Wednesday.
The meeting will look into the fund’s activities and requests by democratic transition countries – Egypt, Morocco, Yemen, Jordan, Tunisia and Libya – to get financial support for future projects, the Kuwaiti Ministry of Finance said in a release sent to KUNA Tuesday.
Such projects would help beneficiaries carry out institutional and legislative reforms and support small and medium-sized enterprises (SMEs), it said.
The USD-250-million democratic transitional fund, to which Kuwait has contributed USD 10 million, stemmed from the Deauville Partnership which was launched in September 2011, it added.
The Deauville Partnership with Arab Countries in Transition is an international effort launched by the G8 to support countries in the Arab world engaged in transitions toward free, democratic and tolerant societies.
The Partnership includes Canada, Egypt, France, Germany, Italy, Japan, Jordan, Libya, Kuwait, Morocco, Qatar, Russia, Saudi Arabia, Tunisia, Turkey, the United Arab Emirates, UK, US and EU.
Three countries have contributed to the capital of the fund, notably the US with USD 50 million, Saudi Arabia with USD 25 million and Kuwait with USD 10 million, the ministry said.
The democratic transition fund was launched during a meeting of financial institutions held in Japan in October 2012 with a view to providing technical aid to the aforesaid six Arab countries.
