Arab Fund for Economic and Social Development


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Arab Fund for Economic and Social Development

A financial institution intended to benefit international development in Arab countries. AFESD was established in Kuwait in 1972 under the aegis of the League of Arab States. The AFESD has several billion dollars in assets. See also: Petrodollar.
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The Annual Meeting of Arab Financial Institutions included a series of events: shareholders meeting of the Arab Authority for Agricultural Investment and Development (AID), the annual meeting of the Board of Governors of the Arab Bank for Economic Development in Africa (BADEA), the shareholders meeting of the Arab Investment and Export Credit Guarantee Corporation (DHAMAN), the annual meeting of the Board of Governors of Arab Fund for Economic and Social Development (AFESD), the annual meeting of the Board of Governors of the Arab Monetary Fund (AMF) in addition to the Fourth Regular Meeting of the Council of Arab Finance Ministers.
On the sidelines of the 41 annual meeting of the Board of Governors of the Arab Fund for Economic and Social Development (AFESD) held last weekend in Morrocco ,Hassan said he held meetings with the General Manager of AFESD Abdul Latif Al-Hamad and other officials, where the fund agreed to grant Jordan $191 million in soft loans to finance the establishment of a steam unit At Al Samra Power Plant.
The meetings concern the Arab Fund for Economic and Social Development (AFESD), the Arab Monetary Fund (AMF), the Inter-Arab Investment Guarantee Corporation, the Arab Bank for Economic Development in Africa (ABEDA) and the Arab Authority for Agricultural Investment and Development, in addition to a meeting of the Supervisory Board on the account established by AFESD to finance the small and medium enterprises.
Summary: AMMAN: The Arab Fund for Economic and Social Development and the Saudi Fund for Development will give loans worth over $200 million to finance a power project in Syria, the Syrian Finance Ministry said.
Summary: Tunisia signed, on Tuesday, a loan and guarantee agreement with the Arab Fund for Economic and Social Development (AFESD) for financing the second extension of the Sousse power station.
Summary: Rabat - The Arab Fund for Economic and Social Development (AFESD) loaned Morocco $ 270 million to finance road infrastructure and drinking water supply projects.
The Arab Fund for Economic and Social Development, established by the Arab League in 1968, did not actually become operational until 1972.
The investment cost of the project is estimated at EGP 5166 million, and in addition to (KFAD) the funds are also provided in cooperation with international and Arab financial organisations, namely the Arab Fund for Economic and Social Development, the Islamic Development Bank (IDB), and The OPEC Fund for International Development (OFID), said Shakir.
The Annual Meeting of Arab Financial Institutions will include a series of events: shareholders meeting of the Arab Authority for Agricultural Investment and Development (AID), the annual meeting of the Board of Governors of the Arab Bank for Economic Development in Africa (BADEA), the shareholders meeting of the Arab Investment and Export Credit Guarantee Corporation (DHAMAN), the annual meeting of the Board of Governors of Arab Fund for Economic and Social Development (AFESD), the annual meeting of the Board of Governors of the Arab Monetary Fund (AMF) in addition to the Fourth Extraordinarily Meeting of the Council of Arab Finance Ministers.
Summary: SANA&'A, Muharram 19, 1432, Dec 25, 2010, SPA -- The Arab Fund for Economic and Social Development (AFESD) has recently committed to providing $500 million in aid for development projects in Yemen.
3 billion for the capital of this initiative, run by the Kuwait-based Arab Fund for Economic and Social Development through a mechanism and standards that were endorsed by member states.
The Annual Meeting of Arab Financial Institutions will be attended by Arab Fund for Economic and Social Development, Arab Monetary Fund and Arab Investment and Export Credit Guarantee, Arab Authority for Agricultural Investment and Development, Arab Bank for Economic Development in Africa along with the participation of Their Excellencies the Ministers of Finance and Central Bank Governors as well as general directors of Arab finance institutions and a number of regional and international observers and delegates, as the meetings are expected to have over 300 attendees.
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