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.
References in periodicals archive ?
(TAP) - The Arab Fund for Economic and Social Development (AFESD) on Thursday donated 3 million dinars (MD) to finance the purchase of equipment used to deal with natural disasters, in particular floods and snowstorms.
The Kuwait-based Arab Fund for Economic and Social Development signed a KD 30 million loan for the Tunisian government TUNIS, Jan 28 (KUNA) -- The Kuwait-based Arab Fund for Economic and Social Development (AFESD) on Monday signed a KD 30 million (USD 100 million) loan for the Tunisian government, meant to prop up strategic dam projects for provinces in the northwest.
In a parallel context, the sources explained that DNVGL, consulted the establishment of a 50MW solar power station in Zafarana, funded by the Arab Fund for Economic and Social Development, sent preliminary reports to establish the project, and the process of selecting the implementation contractor is still in the study stage.
The IMF Middle East Centre for Economics and Finance in Kuwait, jointly with the Arab Fund for Economic and Social Development, held a high-level symposium that discussed economic policies to achieve inclusive development in the Arab world.
The agreement was signed between Minister of Investment and International Cooperation, Sahar Nasr, and the Director General of the Arab Fund for Economic and Social Development (AFESD), Youssef Al-Hamad, on the the sidelines of Nasr's participation in the annual joint meetings of Arab Financial Institutions, held in Morocco.
Summary: The Arab Fund for Economic and Social Development (AFESD) has granted Tunisia a loan of 148 million dinars (MD) for the construction of 32 bridges in 21 governorates.
Such annual meetings will include the opening session of the Arab financial institutions' meeting, the 46th annual meeting of the Arab Fund for Economic and Social Development's (AFESD) Board of Governors, the 44th session of the Arab Investment & Export Credit Guarantee Corporation's (Dhaman) Contributors Council, the 42nd annual meeting of the Arab Bank for Economic Development in Africa's (BADEA) Board of Governors, the 40th annual meeting of the Arab Monetary Fund's (AMF) Board of Governors and the 41st annual meeting of the Arab Authority for Agricultural Investment and Development's (AAAID) Contributors Council.
A number of topics will also be discussed such as a briefing note on the UAE's innovative programme initiative to support Arab countries, innovative initiatives and proposed projects that are submitted by the Arab Fund for Economic and Social Development, Arab Monetary Fund, Arab Investment and Export Credit Guarantee Corporation, Arab Bank for Economic Development in Africa, Arab Authority for Agricultural Investment and Development, as well as reviewing the financial and operational performance of Arab financial entities that participated in 2016.
The group includes nine institutions and funds alongside the AGUND, and these are namely: Saudi Fund for Development (SFD), Abu Dhabi Fund for Development, Arab Fund for Economic and Social Development, Kuwaiti Fund for Arab Economic Development, Islamic Development Bank, OPEC Fund for International Development (OFID), Qatar Fund for Development, and Arab Bank for Economic Development in Africa (BADEA).
29 (SUNA) - The Ministry of Water Resources, Irrigation and Electricity and the Ministry of Finance and Economic Planning signed agreement Thursday with the Arab Fund for Economic and Social Development (AFESD) to finance the construction of Bagair power plant worth 52 million Kuwaiti dinars with a capacity of 500 megawatts as a first stage.
Coordination Group (CG) comprises 10 institutions namely; (i) the Arab Fund for Economic and Social Development (ii) Arab Monetary Fund, (iii) the Arab Bank for Economic and Social Development in Africa, (iv) the Arab Gulf Programme for Development, (v) the OPEC Fund for International Development, (vi) the Islamic Development Bank Group, (vii) the Saudi Fund for Development, (viii) the Kuwait Fund for Arab Economic Development, (ix) the Abu Dhabi Fund for Development, and (x) the Qatar
The high-profile meetings will be attended by Arab finance ministers, governors of central banks, the Arab Monetary Fund (AMF), Arab Fund for Economic and Social Development (AFESD), Arab Investment and Export Insurance Corporation , Arab Bank for Economic Development in Africa, Arab Investment and Agrarian Development Corporation , Islamic Development Banking Group, and the International Monetary Fund (IMF).
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