AFESD - Arab Fund for Economic and Social Development

01/28/2020 | News release | Distributed by Public on 01/28/2020 00:06

Overview of the Operations of the Arab Fund for the Year 2019

Overview of the Operations of the Arab Fund for the Year 2019

During the year, the Arab Fund extended 12 loans, to 6 Arab countries, for a total amount of KD 483.5 million. These loans contributed to the implementation of 11 public sector projects, including 8 new projects and 3 previously financed projects, as well as 1 private sector project. The total cost of these projects was estimated at about KD 1.5 billion, with the loans provided by the Arab Fund covering about 31.4% of that amount. The share of loans provided to the transport and telecommunications sector represented about 40.1% of the total loan commitments during the year, that of the social services sectors about 22.7%, that of the water and sewerage sector about 16.2%, that of the energy and electricity sector about 12.4%, that of the agriculture and rural development sector about 8.1%, and that of the industry and mining sector about 0.5%.

During the same year, the Arab Fund also provided 38 national and inter-Arab grants, for a total amount of about KD 6.7 million. These grants included 18 national grants for a total amount of about KD 4.2 million, about 86.4% of which was allocated for institutional support and training, about 7.8% for emergency programs, about 5.4% for feasibility studies and project preparation, and about 0.4% for seminars and conferences. The grants also included 20 inter-Arab grants for a total amount of about KD 2.5 million, about 87.2% of which was allocated for institutional support and training, about 10.3% for seminars and conferences, and about 2.5% for emergency programs. In addition, the Arab Fund continued its annual contribution to support the resistance of the Palestinian people, by allocating about KD 4.9 million during 2019 to the seventeenth phase of the Urgent Program.