Arab Fund for Economic and Social Development

(redirected from AFESD)
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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.
References in periodicals archive ?
For his part, AFESD Director-General Abdellatif Youssef el-Hamad stressed the Fund's readiness to provide the necessary support to Tunisia and to accompany it in its development projects.
The IMF, AFESD and AMF appreciate the opportunity to listen and exchange views with all participants at the conference as part of our ongoing partnership with the region.
The minister emphasised that the ministry wants to ensure the optimal use of the finances from AFESD.
A meeting will also be held with six Arab funds, namely AFESD, the SFD, the Islamic Development Bank, the Kuwait Fund for Arab Economic Development, the Abu Dhabi Fund for Development and the OPEC Fund to discuss the financing of a project that aims to channel water from the Tigris River to the northeastern governorate of Hassakeh, it said.
Following the signature ceremony, Yemen's President Ali Abdullah Saleh met with Al-Hamad, who briefed Saleh about the projects that the AFESD will fund in Yemen.
Abdellatif Youssef al Hamad said that this agreement is a new landmark on the path of boosting the fruitful co- operation and partnership between AFESD and Tunisia.
KFAED, AFESD, IDB and the Abu Dhabi Fund for Economic Development (ADFAED) will partly finance the project.
The AFESD is further contributing to fund 59 projects with about $5.
Minister of Planning and International Cooperation, Imad Fakhoury, and the Kingdom's governor in the AFESD, who headed the Jordanian delegation, stressed the importance of this meeting in light of the AFESD's role in supporting development efforts in Jordan.
AFESD is a Kuwait-based pan-Arab development financing institution.
The agreement, which was signed at the sidelines of the 39th Annual Meeting of the Board of Governors of the Islamic Development Bank Group (IDB), stipulated that the AFESD would provide funding support of K.
Muscat, Apr 1 (ONA) Darwish bin Isma'eel al-Balushi, Minister Responsible for Financial Affairs left here today heading to the United Arab Emirates (UAE) to lead the Sultanate's delegation in the joint annual meetings of the Arab Financial Authorities, namely the Arab Fund for Economic and Social Development (AFESD), Arab Monetary Fund (AMF), Arab Investment and Export Credit Guarantee Corporation, Arab Bank for Economic Development in Africa, Arab Authority for Agricultural Investment and Development (AID) and meeting of the Supervisory Council on the Account of AFESD to fund the small and medium enterprises (SMEs).