Arab Fund for Economic & Social Development

Arab Fund for Economic & Social Development (AFESD) is an economic development agency based in Kuwait City, Kuwait. Established in 1974, the principal purpose of the agency is to contribute to the financing of economic and social development projects in Arab countries. It provides financing for economic development projects by extending loans, on concessionary terms to governments public corporations, and enterprises of member states, giving preference to projects that are vital to the Arab World and joint Arab projects. The assets of the agency are managed by the board of directors.