History of Kuwait late 16th century, the Portuguese built a defensive settlement in Kuwait. In 1613, the town of Kuwait was founded in the present-day location of Kuwait City. Kuwait was initially under the control of the Bani Khalid clan, who built a fishing village in present-day Kuwait Bay. The beginning of the eighteenth century witnessed the contention of Kuwait by the Bani Utub confederation. They migrated to Kuwait in 1682. As a result of successive matrimonial alliances, they were able to wrest control of Kuwait sometime after the death of Barrak Bin Urair [Bani Khaled] and the fall of the Bani Khaled
Kuwait Fund for Arab Economic Development higher foreign assistance ratio (as a percentage of the GNP) than do other rich capital surplus countries. Kuwait easily achieves and surpasses the target 0.7% of GNP that the United Nations specifies for development assistance. The State of Kuwait also maintains its support and contributions to the resources of other international development institutions, such as the Arab Fund for Economic and Social Development, the African Development Bank, the International Fund for Agricultural Development, and the International Development Association through the Kuwait Fund. Under a new law, the Kuwait Fund is obligated to transfer up to 25% of its net annual