The AFSED earmarked $ 30 million to the Kingdom to benefit of 229 projects with a total amount of $ 22.5 million in various vital sectors, including the following industries: aluminum, textiles, garments, foodstuffs, timber, restaurants, trade, tourism, HVAC workshops, educational institutions, printing, advertising, etc.
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.
The agreements were signed by the Finance Minister, Salaheddine Mezouar, the chairman of the AFSED' board of directors, Abdullatif Youssef Al-Hamad.
Mezouar voiced satisfaction with the 45-year co-operation relations between Morocco and AFSED. He underlined the special attention the fund gives to the development dynamic in the kingdom through projects financing in such important sectors as agriculture, irrigation and motorways.
AMMAN, Feb 9 (KUNA) -- Kuwait-based Arab Fund for Social and Economic Development (AFSED
) and Jordan have initialled an agreement of USD 100 million easy loan to the Hashemite Kingdom.
| SAN, Jan 28 (KUNA) -- The Arab Fund for Economic and Social Development (AFSED) signed Tuesday an agreement with the Yemeni government to co-finance the development of infrastructure in San.
Minister of Planning and International Cooperation Mohammad Al-Sdi, speaking after the signing ceremony, commended the AFSED's contributions to development and stability in Yemen.
Manama signed the two easy loan agreements, valued 56.2 million Kuwaiti Dinars (KD), with the Arab Fund for Economic and Social Development (AFSED
) and Kuwait Fund for Arab Economic Development (KFAED).
Fund for Social and Economic Development (AFSED
) to carry on with its support
run by Kuwait-based Arab Fund for Social and Economic Development (AFSED