ERF has organized a workshop on Sovereign Wealth Funds (SWFs), in Washington, USA in collaboration with The World Bank, on September 10-11, 2016. In view of their dependence on temporary and volatile commodity income, many oil-rich Arab countries realized the importance of sovereign stabilization and long-term investment institutions early on. The State of Kuwait is the world pioneer of sovereign wealth funds (SWFs), establishing two funds, as early as 1953 and many other GCC countries followed suit (the Emirate of Abu Dhabi of the United Arab Emirates, in 1976; Oman in 1980; Qatar in 2000; and Bahrain and Libya in 2006).
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