Arab Fund for Economic and Social Development (AFESD)
Fonds Arabe pour le Développement Economique et Social (FADES)
Fondo Arabe para el Desarrollo Económico y Social
الصندوق العربي للإنماء الاقتصادي والاجتماعي
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Established following agreement by the Economic and Social Council of D-XD2903 - League of Arab States (LAS). Agreement entered into force, 18 Dec 1971. Commenced full operations in 1974.
Establishment Agreement amended by Board of Governors in 1997 in response to the need to enhance the developmental role of the private sector in member countries; now authorized to finance private sector development projects in Arab countries.
Contribute to financing of economic and social development projects in Arab countries by extending loans, on concessionary terms, to governments and public corporations and enterprises of member states, giving preference to projects which are vital to the Arab world and to joint Arab projects; serve as a catalyst for encouraging direct or indirect investment of public and private capital in a manner conducive to development of the Arab economy; provide expertise and technical support in various spheres of economic development.
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Board of Governors (meets at least annually); Board of Directors.
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UN Sustainable Development Goals **
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