Arab Energy Fund reports record income of $10.9bn in assets
The Arab Energy Fund, a leading financial institution in the MENA energy sector, has reported its highest-ever net income for the fiscal year ending December 31, 2024. Total assets grew by 10.5% YoY to reach $10.9 billion.
The fund's net income soared by 18% YoY to reach $266 millon, with capital gains of $11 million from the sale of investments. Total assets grew by 10.5% YoY to reach $10.9 billion.
Khalid Ali Al-Ruwaigh, CEO of The Arab Energy Fund, commented: 'These remarkable financial results mark the conclusion of a transformative year for The Arab Energy Fund. Our renewed focus on delivering impactful solutions while maintaining strong momentum underscores our commitment to the region."
He added: 'All our business lines contributed significantly to these results. Guided by our five-year strategy, we continue building a solid foundation for the future, aligning our debt and equity portfolios with our vision of becoming a pre-eminent impact investor in the MENA region, and supporting a more resilient energy ecosystem.'
The Fund, supported by ten Arab member countries, plans to expand its financing solutions, including loans, equity investments, and financial advisory services, serving public and private sector partners across over 35 countries.
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