Kuwait’s Arab Fund for Economic and Social Development has approved its mid-March vote to allocate about KD104m ($359m) for the redevelopment of Arab states and funding government organisations. The approval came in the first week of April.   

Loans accounted for most of the economic assistance with KD101m going to Sudan, Morocco, Yemen and Djibouti. The remaining KD2.9m was divided between Egypt, Lebanon, Jordan, Morocco, the Arab Fund, the Arab Thought Forum and the International Centre for Biosaline Agriculture.

The Arab Fund is a regional financial institution focused on funding economic and social development by financing public and private investment projects, and providing grants as well as professional expertise.

Loans provided by the Arab Fund are designed to provide low-cost financing conditions to help Arab countries implement development plans, while minimising financial burden. Arab Fund grants are non-refundable and are awarded to develop fields of study, provide institutional support and training, and assist in emergency situations.

The breakdown of the Arab Fund loans is:

Recipient Value Activity
Morocco KD55m Highway connecting Bershid & Beni Mallal
Sudan KD30m Completion of White Nile Sugar Refinery project
Djibouti KD9m Modernisation of transport network
Yemen KD7m Flood protection infrastructure for Sana’a City

Source: Arab Fund for Economic & Social Development

 

The breakdown of the Arab Fund grants is:

Recipient Value Activity
Arab Fund KD1m Cost of a masterplan to connect Arab countries by rail
Lebanon KD500,000 Supporting civil action societies
Egypt KD500,000 Furnish and equip facilities for Arab Open University
Morocco KD300,000 Modernise equipment in Fez National Library
International Centre for Biosaline Agriculture KD250,000 Fund sustainable crops and livestock programmes throughout Middle and North Africa region
Jordan KD220,000 Equipment for King Hussein Cancer Foundation
Lebanon KD100,000 Programmes to support Palestine
Arab Thought Forum KD30,000 Fund the 4th Youth Conference 2010

Source: Arab Fund for Economic & Social Development