The Saudi Arabian General Investment Authority (SAGIA) has reaffirmed its commitment to Othman Almulla, Saudi Arabia’s first professional golfer, by continuing its partnership with him through Invest Saudi, the Kingdom’s inward investment and promotion brand.
Almulla is once again representing Saudi Arabia at the European Tour event the Saudi International, presented by Softbank Investment Advisers. The event, which runs from Jan. 30 to Feb. 2, is being held at the Royal Greens Golf & Country Club in King Abdullah Economic City (KAEC). The tournament was staged for the first time last year where it was the inaugural European Tour event to be played in Saudi Arabia.
SAGIA’s agreement with Almulla aims to showcase the talent that exists within Saudi Arabia’s young population and demonstrate the ongoing economic and social transformation of the Kingdom in creating new opportunities for international business, in both sports and entertainment.
Khaled Tash, deputy governor of marketing and communications at SAGIA, said: “Othman has gone from strength to strength over the last year, competing in some high-profile tournaments and ending the year well with some strong performances on the MENA Tour. He continues to be an inspiration to young people in Saudi Arabia and our partnership with him is based on our commitment to nurturing up-and-coming Saudi talent.”
Almulla said: “I am very grateful to SAGIA for their ongoing support. I look forward to working with them to promote the Invest Saudi brand and further highlight the international opportunities that exist in Saudi Arabia.”
Yasir bin Othman Al-Rumayyan, chairman of the Saudi Golf Federation, said: “Our partnership with SAGIA means that we can continue to support golf development in the Kingdom, while helping to support their work for showcasing Saudi Arabia as a destination for international business development.”
Current world No. 1 Brooks Koepka will return to The Saudi International alongside world No. 5 and reigning champion Dustin Johnson.
Invest Saudi continues support of top Saudi golfer
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Invest Saudi continues support of top Saudi golfer
- SAGIA’s agreement with Almulla aims to showcase the talent that exists within Saudi Arabia’s young population and demonstrate the ongoing economic and social transformation of Saudi Arabia
Kuwait Fund for Development: Six decades of humanitarian and developmental impact across globe
On Dec. 31, the Kuwait Fund for Development marks the anniversary of its establishment, opening a new chapter of success and ambition as one of the most prominent pioneers of development on both regional and global levels. Founded in 1961, the fund became the first and oldest development institution to operate in Arab countries and other developing nations.
Today, after more than six decades of continuous work, the Kuwait Fund for Development remains steadfast in its mission and has never ceased its efforts to support development causes in developing countries. As it celebrates its 64th anniversary, the fund has drawn a national portrait under the theme “Partners in Development,” reflected through its projects spread across the globe, all of which aim to build brighter and more sustainable future.
An external development arm
The establishment of the Kuwait Fund for Development embodied a wise and visionary decision by the leadership of Kuwait at the time. Kuwait was the only developing country that chose to share the challenges of development with other developing nations, cooperating with them through the provision of concessional loans, grants, financial assistance, and technical support tailored to their development priorities.
Since its inception, the Kuwait Fund for Development has served as Kuwait’s external development arm, sparing no effort in supporting development causes and extending assistance to developing countries worldwide.
Vision and early beginnings
In the early 1960s, the late Amir Sheikh Jaber Al-Ahmad Al-Sabah, then head of the financial department, proposed the idea of establishing a development entity that would serve Kuwait’s foreign policy and assist Arab and other developing countries in achieving development across various sectors. The idea received strong support from the late Amir Sheikh Abdullah Al-Salem Al-Sabah, as it aligned with Kuwait’s vision at the time to build a modern state.
Consequently, an Amiri decree was issued on Dec. 31, 1961, establishing the Kuwait Fund for Development with an initial capital of 50 million Kuwaiti dinars ($162.6 million).
Global reach and development impact
The fund’s activities have extended to all corners of the world, contributing to the financing of projects in 106 countries, including 16 Arab countries, 41 African countries, 19 in East and South Asia and the Pacific, 17 in Central Asia and Europe, and 12 in Latin America and the Caribbean.
This support was delivered through 1,037 concessional loans provided to the governments of these countries, with a total value of approximately 7 billion Kuwaiti dinars. In addition, the fund has provided grants and technical assistance to support a wide range of development services, helping beneficiary countries implement their development programs. A total of 420 grants and technical assistance operations were extended, amounting to approximately 401 million Kuwaiti dinars.
Loan agreements
During the past year, the Kuwait Fund for Development signed several loan agreements supporting development across different regions of the world. Among these were two loan agreements with the government of Bahrain. The first loan, valued at 31.25 million Kuwaiti dinars, contributed to financing the Electricity Transmission Networks Development Project. The second loan, valued at 10 million Kuwaiti dinars, supported the Sheikh Jaber Al-Ahmad Al-Sabah Highway Development Project (Phase II).
On the sidelines of the World Bank Group meetings held in Washington, D.C., the fund has also signed a 4 million Kuwaiti dinar-worth loan agreement with Saint Lucia to help finance the Sir Julian R. Hunte Highway Project, as well as another 4 million Kuwaiti dinar-worth loan agreement with Belize to support the George Price Highway Project.
Supporting and assisting refugees
The Kuwait Fund for Development’s contributions to humanitarian action stand out at both regional and international levels. Since its establishment, the fund has represented a unique model in supporting and assisting refugees in countries affected by disasters, conflicts, and wars, in line with Kuwait’s moderate and balanced policy.
These efforts have helped strengthen Kuwait’s relations with Arab and international partners. The fund has played a significant role in the reconstruction of Lebanon and Iraq following periods of crisis, and its assistance to the Palestinian people has never ceased.
International Participation
Over the past year, the Kuwait Fund for Development recorded notable participations in major international forums. These included taking part in the 2025 annual meetings of the World Bank Group and the International Monetary Fund in Washington, D.C., with a delegation headed by the fund’s Acting Director General Walid Shamlan Al-Bahar. The fund also took part in the Tokyo International Conference on African Development, held in Tokyo, Japan.
Additional international engagements included participation in the Third UN Conference on Landlocked Developing Countries, held in Awaza, Turkmenistan, and the Fourth International Conference on Financing for Development, organized by the UN in Seville, Spain.
