PepsiCo partners with PSU to educate youth on sustainability

Leading F and B company PepsiCo and Prince Sultan University signed an MoU to engage students in an experiential learning journey and help foster a circular economy in the Kingdom.
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Updated 17 September 2022
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PepsiCo partners with PSU to educate youth on sustainability

PepsiCo, a leading food and beverage company in the region, and Saudi Arabia’s Prince Sultan University, signed a memorandum of understanding to engage students in an experiential learning journey and help foster a circular economy in the Kingdom.

The MoU aims to strengthen efforts toward achieving a zero-waste future for the university campus, and challenges students to dig deeper into the issue of plastic waste and the benefits of a circular economy through academic research. It also encourages students to find solutions to common challenges, and work toward minimizing waste on the campus in ways that can be implemented at scale across universities.

Students will have access to guest lectures by senior PepsiCo leadership, aimed at nurturing an environment where they can gain practical knowledge of the subject. The company will also set up collection points to encourage students to recycle better, and eventually transform the university into a zero-waste campus.

Eugene Willemsen, chief executive, Africa, Middle East and South Asia, PepsiCo, said: “For over 65 years now, the Kingdom of Saudi Arabia has been our home. We consider ourselves strategic partners in the realization of the Kingdom’s Vision 2030, rooted in sustainability. Guided by PepsiCo Positive (pep+), PepsiCo’s strategic end-to-end transformation for driving long-term sustainability, we are working toward building a circular and inclusive value chain globally. Through the partnership with Prince Sultan University, we are confident about translating our sustainability ambition into tangible action in Saudi Arabia, inspiring the youth to lead as ambassadors of sustainable living.”

Dr. Ahmed Yamani, president of PSU, said: “PSU is committed to applying the UN SDG 2030 in line with Saudi Vision 2030. Our partnership with PepsiCo demonstrates our continued commitment to working closely with the industry and positively impacting the community. PSU is truly proud to be directly linked to one of the milestone changes in the higher education system in this country, and that is the future of private higher education.”

Professor Mohammad Nurunnabi, director of Center for Sustainability and Climate at PSU and aide to the president on ranking and internationalization, said: “We are proud to partner with PepsiCo, a world-leading multinational company, given their significant commitments on sustainability. This partnership aligns with our vision to provide the Middle East with quality education of the highest international standard, and our commitment to Saudi Vision 2030. We’re delighted to come together to provide tangible solutions to combat sustainability challenges.”

Across the MENA region, PepsiCo is accelerating its efforts toward a more sustainable food system, as it leads the evolution toward eco-conscious consumption in a circular economy. Last year, PepsiCo launched the “Food for Thought” platform, which aims to democratize conversations about food security and sustainability by bringing together multiple stakeholders from across the food chain. The MoU with Prince Sultan University is one way PepsiCo is bringing this to life in Saudi Arabia.

Over the years, PepsiCo has worked closely with its bottling partners in Saudi Arabia to ensure that large amounts of plastic are diverted from landfills. PepsiCo and key partners such as mass waste collector WASCO and environmental solution provider Naqaa, have installed 16 smart, solar-powered sorting machines to collect and sort empty plastic bottles in Makkah, and placed 80 recycling stations at the Dakar Rally venue in Jeddah.

In addition, PepsiCo has also signed an MoU with the National Waste Management Center, launched community recycling projects and has partnered with Diriyah Gate Authority to collect plastic, increase recycling rates and raise awareness.


Kuwait Fund for Development: Six decades of humanitarian and developmental impact across globe

Updated 22 January 2026
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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.