Ninety-five per cent of economic aid goes to Sudan, Morocco, Djibouti and Yemen
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
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