KUWAIT, 13th June, 2016 (WAM) — The Kuwait Fund for Arab Economic Development, KFAED, has said that it has funded 100 water and irrigation projects globally worth more than US$1.6 billion, since its establishment.

The fund’s contribution to support these projects came from its conviction to achieving sustainable development, taking into consideration the water shortages and environmental challenges facing the world, a KFAED report said.

The report which was carried by the Kuwaiti News Agency, KUNA, says that the fund works to support basic development sectors, and during the past five decades it has offered the necessary support for the implementation of about 800 projects in more than 100 countries with a total value of about US$ 17 billion.

Global statistics show that there is a lack of basic sanitation for about 2.5 billion people around the world, and at least about 780 million people are not getting clean drinking water, resulting in the emergence of many health problems, heavy economic losses, and a slowdown in GDP growth, the report added.

The world will face a shortage of about 40 percent of the total demand for water versus the quantities available by 2030. Providing drinking water to 9 billion people by 2050 will require a lot of water which exceeds the available resources, said the KFAED.