What does AFESD mean in DEVELOPMENT
The Arab Fund for Economic and Social Development (AFESD) is an international financial institution established in 1973 by Arab oil-exporting countries. It is headquartered in Kuwait City and operates as a specialized agency of the Arab League.
AFESD meaning in Development in Community
AFESD mostly used in an acronym Development in Category Community that means Arab Fund for Econimic and Social Development
Shorthand: AFESD,
Full Form: Arab Fund for Econimic and Social Development
For more information of "Arab Fund for Econimic and Social Development", see the section below.
» Community » Development
Objectives
- Promote economic and social development across the Arab world
- Provide financial assistance to member states in the form of loans, grants, and technical aid
- Support infrastructure projects, agricultural development, education, healthcare, and other vital sectors
- Foster intra-regional cooperation and integration
Membership
AFESD has 22 member states, including:
- Algeria
- Bahrain
- Egypt
- Iraq
- Jordan
- Kuwait (host country)
- Lebanon
- Libya
- Mauritania
- Morocco
- Oman
- Palestine
- Qatar
- Saudi Arabia
- Somalia
- Sudan
- Syria
- Tunisia
- United Arab Emirates
- Yemen
Key Activities
- Loan Financing: Provides long-term loans with competitive interest rates to support infrastructure, energy, transportation, water, and sanitation projects.
- Grant Assistance: Offers non-reimbursable grants for feasibility studies, technical assistance, and capacity building initiatives.
- Partnership and Cooperation: Collaborates with international organizations, development agencies, and private sector partners to enhance its outreach and impact.
Essential Questions and Answers on Arab Fund for Econimic and Social 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 multilateral development finance institution established in 1968 by the Arab League. Its mission is to provide financial assistance and technical support to Arab countries for their economic and social development.
What are the goals of AFESD?
AFESD's primary goals are to:
- Promote economic and social development in Arab countries
- Provide financial assistance for development projects
- Support social and humanitarian programs
- Enhance cooperation and integration among Arab countries
How does AFESD operate?
AFESD provides loans, grants, and technical assistance to public and private sector entities in Arab countries. Its operations are guided by the Fund's Articles of Agreement and policies.
What sectors does AFESD support?
AFESD supports a wide range of sectors, including:
- Infrastructure (energy, water, transportation)
- Education
- Health
- Agriculture
- Industry
- Small and medium-sized enterprises
Who are AFESD's partners?
AFESD collaborates with various partners, including governments, international financial institutions, development agencies, and the private sector.
What is AFESD's track record?
Since its establishment, AFESD has provided over $100 billion in financing for development projects in Arab countries. These projects have contributed significantly to economic growth and social progress in the region.
How can I access AFESD's funding?
Eligible entities may submit project proposals to AFESD for consideration. The Fund's evaluation process involves a thorough assessment of the project's viability and alignment with AFESD's objectives.
Final Words: AFESD plays a significant role in promoting sustainable economic and social progress across the Arab world. Through its financial assistance, technical expertise, and strategic partnerships, it supports member states in achieving their development goals, fostering regional cooperation, and improving the quality of life for millions of people.
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