Arab Fund for Economic and Social Development

Arab Fund for Economic and Social Development
Arab Fund for Economic and Social Development
	Emblem
	Map indicating members of the Arab League.
Headquarters	Kuwait
Official languages	Arabic
Type	Development finance institution of the Arab League
Membership	21 states Algeria ; Bahrain ; Djibouti ; Egypt ; Iraq ; Jordan ; Kuwait ; Lebanon ; Libya ; Mauritania ; Morocco ; Oman ; Palestine ; Qatar ; Saudi Arabia ; Somalia ; Sudan ; Syria ; Tunisia ; UAE ; Yemen ;
Leaders
• Chairman	Abdulatif Y. Al-Hamad
Establishment
• Agreement	16 May 1968
• First meeting	6 February 1972

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 Bader M. Alsaad.

Founding Chairman is Saeb N. Jaroudi.