Arab Fund for Economic and Social Development (AFESD) Kuwait

The AFESD is an Arab regional financial institution, whose objectives are to assist member countries (Algeria, Bahrain, Djibouti, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Mauritania, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Somalia, Sudan, Syrian Arab Republic, Tunisia, United Arab Emirates, and Republic of Yemen) in eliminating development constraints, increasing absorptive capacity and achieving higher rates of growth; and to foster economic integration and cooperation among Member countries. Its function is to assist the economic and social development of Arab countries through:

• financing economic and social development projects, with preference given to overall Arab development and to joint Arab projects;
• financing private sector projects in Member States by providing all forms of loans and guarantees to corporations and enterprises possessing juridical personality and participating in their equity capital, as well as providing other forms of financing and furnishing the requisite financial, technical and advisory services;
• forming or participating in the equity capital of corporations possessing juridical personality for the implementation and financing of private sector projects in Member States;
• establishing and administering special funds whose purpose is compatible with that of the Arab Fund, and whose resources are provided by the Fund or other sources;
• encouraging the investment, directly or indirectly, of private and public capital in a manner conducive to the development of the Arab economy; and
• providing expertise and technical assistance in the various spheres of economic development.

The AFESD supports country activities in the WHO Eastern Mediterranean Region including disease detection, mapping, disability prevention and control activities, and logistical support.