What does AFESD mean in DEVELOPMENT
AFESD stands for Arab Fund for Economic and Social Development. It is a regional development institution established in 1971 by Arab oil-exporting countries. The fund's primary objective is to provide financial assistance to Arab countries for their social and economic development projects.
AFESD meaning in Development in Community
AFESD mostly used in an acronym Development in Category Community that means Arab Fund for Economic and Soical Development
Shorthand: AFESD,
Full Form: Arab Fund for Economic and Soical Development
For more information of "Arab Fund for Economic and Soical Development", see the section below.
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Functions of AFESD
- Providing loans and grants to Arab countries for development projects in various sectors, including infrastructure, education, health, and agriculture.
- Promoting economic integration among Arab countries by supporting regional cooperation and development initiatives.
- Providing technical assistance and capacity building to Arab countries in areas related to project planning, implementation, and management.
- Facilitating trade and investment within the Arab region by supporting the development of infrastructure and trade-related projects.
Membership and Governance
AFESD has 22 member states, including all Arab League member countries except Somalia. The fund is governed by a Board of Governors, which consists of ministers of finance or economy from the member states. The Board of Governors sets the policies and approves the annual budget of the fund.
Impact of AFESD
AFESD has played a significant role in promoting economic and social development in the Arab region. The fund has financed numerous projects in various sectors, contributing to the improvement of living standards, infrastructure, and economic growth in Arab countries.
Essential Questions and Answers on Arab Fund for Economic and Soical Development in "COMMUNITY»DEVELOPMENT"
What is the Arab Fund for Economic and Social Development (AFESD)?
The Arab Fund for Economic and Social Development (AFESD) is a regional development institution that provides financial assistance and technical support to Arab countries. It was established in 1973 by the Arab League and is headquartered in Kuwait City, Kuwait. AFESD's mission is to promote economic and social development in the Arab region through the provision of loans, grants, and investments.
What are the objectives of AFESD?
AFESD's primary objectives are to:
- Promote economic integration and cooperation among Arab countries.
- Finance development projects in Arab countries, particularly in sectors such as infrastructure, energy, agriculture, and industry.
- Provide technical assistance and advisory services to support sustainable development in Arab countries.
- Promote social development and improve the living standards of Arab citizens.
How does AFESD provide financial assistance?
AFESD provides financial assistance to Arab countries through a variety of mechanisms, including:
- Loans: AFESD provides loans to governments, public sector entities, and private sector companies to finance development projects. Loans are typically provided on concessional terms, with low interest rates and long repayment periods.
- Grants: AFESD also provides grants to Arab countries for technical assistance, capacity building, and emergency relief efforts.
- Investments: AFESD invests in a range of projects in Arab countries, including infrastructure, energy, and industry. These investments are made with the aim of generating income and supporting sustainable development.
What are the eligibility criteria for AFESD financing?
To be eligible for AFESD financing, projects must meet certain criteria, including:
- The project must be located in an Arab country.
- The project must be economically and socially viable.
- The project must contribute to the development goals of the Arab region.
- The project must be supported by the government of the borrowing country.
How can I apply for AFESD financing?
To apply for AFESD financing, you should submit a project proposal to AFESD's headquarters in Kuwait City, Kuwait. The proposal should include a detailed description of the project, its objectives, its budget, and its expected impact. AFESD will review the proposal and make a decision on whether to provide financing.
Final Words: The Arab Fund for Economic and Social Development (AFESD) is an important regional development institution that provides financial and technical assistance to Arab countries for their economic and social development. The fund has made significant contributions to the progress and prosperity of the Arab region and continues to play a vital role in promoting sustainable development in the years to come.
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