Kuwait Proposes To Establish Fund For Investments In Digital Economy

BEIRUT (UrduPoint News / Sputnik - 20th January, 2019) Kuwait intends to establish a financial fund of $200 million for investments in technologies and digital economy, Kuwait's Deputy Prime Minister Sheikh Sabah Khalid al Hamad al Sabah said on Sunday at the Arab League Economic and Social Development Summit in Beirut.

"I announce the initiative of the emir of Kuwait to create a financial fund for investments in technologies and digital economy with a capital of $200 million and involving the private sector," the deputy prime minister said during his address to the summit.

The head of the Kuwaiti delegation also noted that the country would participate in the fund with $50 million.

The summit of the League of Arab States, focused on economic and social development, began in Beirut on Thursday with a session of a committee of specialized delegations. Almost all heads of the Arab League countries, except for the president of Mauritania and the emir of Qatar, refused to participate in the summit.