The Arab Fund for Economic and Social Development (AFESD) (Arabic: الصندوق العربي للإنماء الاقتصادي والاجتماعي), is a Kuwait-based pan-Arab development finance institution. All member-states of the Arab League are members of the AFESD. As of 2003, it held around US$7.3 billion in assets.
The AFESD was established by agreement of the Economic and Social Council of the Arab League. Its first meeting was held on 6 February 1972.
The current Chairman is Bader M. Alsaad.
Founding Chairman is Saeb N. Jaroudi.
AFESD Purpose The Arab Fund for Economic and Social Development (AFESD) claims its main purpose is “contribute to the financing of economic and social development projects in the Arab countries”(Arab Fund for Economic and Social Development 2024). They execute this through providing financing for development projects, and providing loans to public and private institutions as well as encouraging investments in member states. AFESD also provides economic assistance through expert consultation in various projects.
The AFESD gives priority to Arab countries in the distribution of loans which is one of their main strategies to economic development and promote cooperation for these Arab nations. The fund aims to achieve the best possible regulations of project implementation in order to promote a better approach to development. AFESD works closely with government and regulatory authorities in order to ensure proper implementation and supervision.
The fund focuses on both private and public sector improvements with a priority to inter-Arab projects. Providing loans, expertise and habilitating a means of communication between governments and concerned authorities.
Governance AFESD is operated by two main committees, the Board of Governors, the Board of Directors which has a chairman. These committees oversee the Support Services Department, the Administrative Affairs Department, the Financial Affairs Department, the Operations Department and the Investment Department, all of which have many smaller units and sections. +Chairman of Board of Directors and General Manager NamecountryMr. Bader M. AlsaadKuwait
About Mr. Bader M. Alsaad Mr. Bader M. Alsaad has been the chairman of the Board of directors and the standing General Manager. He graduated from Kuwait University with a bachelor's degree in accounting. Mr. Alsaad has an extensive history serving in leadership positions at financial institutions around the world.He was previously the CEO of Kuwait Financial Center ‘Markaz’, the leading investment firm in Kuwait from 1997-2003. He has also previously served as a manager in the Kuwait Managing Authority from December 2003 until April 2017. He has also held various positions at the Bank of Kuwait and the Middle East. He is also a founder and former chairman of International forum of Sovereign Wealth Funds.
Mr. Bader M. Alsaad is also currently on the Board of Directors and on the Executive Committee in the Kuwait Investment Authority. Supervisory board of Daimler AG and Daimler Trucks. He is on the Global Advisory Council for the Bank of America and is also notably on the Board of Directors for BlackRock +Members of Board of Directors NameMr. Fouzi LekjaaMr. Musallam Mahad Ali QatanMs. Mariam Al AmiriMr. Ahmed Omar El GhanayMs. Ghadeer HegaziMr. Abderrahmane KhiddiDr. Fahad Ibrahim A. AlShathriMr. Waleed SH. Albahar +Members of the Board of Governors NameCountryDr. Gibril Ibrahim MohammedRepublic of SudanMr. Laziz FayedPeople's Democratic Republic of AlgeriaMs. Zeina ToukanHashemite Kingdom of JordanMs. Nadia Fattah AlaouiKingdom of MoroccoMr. Mohammed Bin Hadi Al HussainiState of the United Arab EmiratesSheikh Salman Bin Khalifa Al-KhalifaKingdom of BahrainMr. Ali Bin Ahmed Al KuwariState of QatarMr. Mohammed Bin Abdullah Al JadaanKingdom of Saudi ArabiaMr. Samir AbdelhafidhRepublic of TunisiaDr. Khalid Al Mabrouk Abdalla Al MabroukState of LibyaDr. Rania Al MashatArab Republic of EgyptDr. Waed Abdullah BadhibRepublic of YemenMr. Nabil Adnan Al-JisrRepublic of LebanonEng. Noora Sulaiman Salem Al FassamState of KuwaitMr. Sidi Ahmed Ould BouhThe Islamic Republic of MauritaniaMr. Sultan bin Salem bin Saeed Al-HabsiSultanate of OmanDr. Wael ZakoutState of PalestineMr. Ilyas Moussa DawalehRepublic of DjiboutiMr. Ibrahim Muhammad Abdel RazzaqUnion of the ComorosMs. Taif Sami MohammedRepublic of IraqDr. Kanan YaghiSyrian Arab Republic +Alternate Governors NameCountryMr. Marwan Al RifaiHashemite Kingdom of JordanMr. Ayman Mohammed Al-SayariKingdom of Saudi ArabiaMr. Ahmed KojakArab Republic of EgyptMs. Wazira Mohammed Ahmed Al SharmaniRepublic of YemenMr. Waleed S. Al-BaharState of KuwaitMr. Khaled Mohamed BalamaState of the United Arab EmiratesMr. Yousif Abdulla HumoodKingdom of BahrainMr. Nasser QatamiState of PalestineMr. Fouzi LekjaaKingdom of MoroccoMr. Mohamed Salem Ould Al NaniThe Islamic Republic of MauritaniaMr. Sadeq Hweidi AbbasRepublic of Iraq
External links Arab Fund for Economic and Social Development afc.com.lb untreaty.un.org un.org