AFSED

AcronymDefinition
AFSEDArab Fund for Social and Economic Development (Kuwait)
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The AFSED Initiative was announced by His Highness Sheikh Sabah Al Ahmed Al Jaber Al Sabah the Amir of Kuwait during the First Arab Socio-Economic Development Summit in the State of Kuwait on 19 January 2009 with a capital fund to the tune of $ 2 billion to which the following countries also contributed: Kingdom of Saudi Arabia, Sultanate of Oman, Egypt, Jordan, Morocco, Algeria, Syria, Tunisia, Sudan, Iraq, Yemen, Djibouti, Palestine and Mauritania.
Mezouar voiced satisfaction with the 45-year co-operation relations between Morocco and AFSED.
The first loan, worth KD 30 million, would finance countryside roads development projects, the AFSED said in a statement, noting that the project is part of the fourth phase of a program that aims to link remote countryside areas and isolated villages with cities and urban centers.