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Arab Fund for Economic and Social Development

The Arab Fund for Economic and Social Development (AFESD) is a Kuwait-based pan-Arab development finance institution. All member-states of the Arab League are members of the AFESD. As of 2003, it held around US$7.3 billion in assets. The AFESD was established by agreement of the Economic and Social Council of the Arab League. Its first meeting was held on 6 February 1972. The current Chairman is Bader M. Alsaad. Founding Chairman is Saeb N. Jaroudi. AFESD Purpose The Arab Fund for Economic and Social Development (AFESD) claims its main purpose is ???contribute to the financing of economic and social development projects in the Arab countries???(Arab Fund for Economic and Social Development 2024). they execute this through providing financing for development projects, and providing loans to public and private institutions as well as encouraging investments in member states. AFESD also provides economic assistance...

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wikidata.org 0 views · 2024-12-26 18:26:26

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