Arab Fund for Economic and Social Development
The Arab Fund for Economic and Social Development (AFESD) is a Kuwait-based pan-Arab development finance institution. All member-states of the Arab League are members of the AFESD. As of 2003, it held around US$7.3 billion in assets. The AFESD was established by agreement of the Economic and Social Council of the Arab League. Its first meeting was held on 6 February 1972. The current Chairman is Abdulatif Y Al-Hamad. Former Chairman is Mohammed Al Emadi. Founding Chairman is Saeb N. Jaroudi. Arab Fund for Economic and Social Development