Arab Fund for Economic and Social Development
From Taighde
The Arab fund for economic and social development (AFESD) is a pan-Arab development finance institute based in Kuwait. All members of the League of Arab States are members of the fund. These include Algeria, Bahrain, Djibouti, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Mauritania, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Somalia, Sudan, Syria, Tunisia, United Arab Emirates, Yemen.
The fund’s function is to assist the economic and social development of Arab countries. As such it focuses on financing development projects, with preference given to overall Arab development and to joint Arab projects; encouraging the investment of private and public funds in Arab projects; and providing technical assistance services for Arab economic and social development.
The fund’s highest authority is the Board of Governors. The Board of Directors consists of eight Directors and eight Alternate Directors elected by the Board of Governors for a two-year period. The Board of Directors guides operations in general and exercises powers delegated to it by the Board of Governors. The current Chairman is Abdulatif Y Al-Hamad. The following are directors or members of the board: Ibrahim Fayez, Abdulwahab Al-Bader, Yousuf bin Ibrahim Al-Bassam, Alsayed bin Awdah Murad, Ali bin Mohammad Reda, Ayyad Amer Abu Faed, Ahmad Mahrous Al-Darsh och Abdulatif Banani.
