Arab Fund for Economic and Social Development
Encyclopedia
The Arab Fund for Economic and Social Development (AFESD) is a Kuwait
Kuwait
The State of Kuwait is a sovereign Arab state situated in the north-east of the Arabian Peninsula in Western Asia. It is bordered by Saudi Arabia to the south at Khafji, and Iraq to the north at Basra. It lies on the north-western shore of the Persian Gulf. The name Kuwait is derived from the...

-based, pan-Arab
Pan-Arabism
Pan-Arabism is an ideology espousing the unification--or, sometimes, close cooperation and solidarity against perceived enemies of the Arabs--of the countries of the Arab world, from the Atlantic Ocean to the Arabian Sea. It is closely connected to Arab nationalism, which asserts that the Arabs...

 development finance institution
Development Finance Institution
Development finance institution is generic term used to refer to a range of alternative financial institutions including microfinance institutions, community development financial institution and revolving loan funds...

. All member-states of the Arab League
Arab League
The Arab League , officially called the League of Arab States , is a regional organisation of Arab states in North and Northeast Africa, and Southwest Asia . It was formed in Cairo on 22 March 1945 with six members: Egypt, Iraq, Transjordan , Lebanon, Saudi Arabia, and Syria. Yemen joined as a...

 are members of the AFESD. As of 2003, it held around USD
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....

 7.3 billion in assets.

The AFESD was established by agreement of the Economic and Social Council
Economic and Social Council (Arab League)
The Arab Economic and Social Development summits are summits of the Arab League, held at the head of state level to address issues of economic and social development among member-states...

 of the Arab League
Arab League
The Arab League , officially called the League of Arab States , is a regional organisation of Arab states in North and Northeast Africa, and Southwest Asia . It was formed in Cairo on 22 March 1945 with six members: Egypt, Iraq, Transjordan , Lebanon, Saudi Arabia, and Syria. Yemen joined as a...

. Its first meeting was held on 6 February 1972.

The current Chairman is Abdulatif Y Al-Hamad.

Former Chairman is Mohammed Al Emadi.

Founding Chairman is Saeb N. Jaroudi
Saeb N. Jaroudi
Dr. Saeb N. Jaroudi is a former Minister of National Economy, Industry, and Tourism in Lebanon and a senior economic consultant advising international public and private institutions on economic policy and project finance. He has held a number of leadership roles in the Arab world, Europe, and the...

.

External links


See also

  • Arab League
    Arab League
    The Arab League , officially called the League of Arab States , is a regional organisation of Arab states in North and Northeast Africa, and Southwest Asia . It was formed in Cairo on 22 March 1945 with six members: Egypt, Iraq, Transjordan , Lebanon, Saudi Arabia, and Syria. Yemen joined as a...

  • Economic and Social Council (Arab League)
    Economic and Social Council (Arab League)
    The Arab Economic and Social Development summits are summits of the Arab League, held at the head of state level to address issues of economic and social development among member-states...

  • Arab Monetary Fund
    Arab Monetary Fund
    The Arab Monetary Fund is a regional Arab organization, founded 1976, and operational from 1977. It is a working sub-organization of the Arab League.-Objectives:...

  • Council of Arab Economic Unity
    Council of Arab Economic Unity
    The Council of Arab Economic Unity was established by Egypt, Iraq, Jordan, Kuwait, Libya, Mauritania, Palestine, Saudi Arabia, Somalia, Sudan, Tunisia, Syria, United Arab Emirates and Yemen on 3 June 1957...

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