Latest news with #AFESD
Saudi Press
27-05-2025
- Business
- Saudi Press
Saudi EXIM Bank Signs MoUs with Tajikistan's State Unitary Bank, AFESD to Enhance Access to Saudi Exports
Saudi EXIM Bank Signs MoUs with Tajikistan's State Unitary Bank, AFESD to Enhance Access to Saudi Exports Sunday 27/11/1446 Voice reader
Zawya
26-05-2025
- Business
- Zawya
AFESD ready to contribute to implementation of several future flagship projects in Tunisia
Tunis - Chairman and Director General of the Board of Directors of the Arab Fund for Economic and Social Development (AFESD), Badr Mohammed Al Saad, affirmed this institution's readiness to support and develop its existing cooperation with Tunisia, as well as contribute to the implementation of several future flagship projects and investments over the medium and long term. These projects will cover a number of priority sectors that impact the economic cycle. Al Saad and his accompanying delegation were received by Prime Minister Sara Zaafrani Zenzri at the Government Palace in Kasbah on Friday, as part of his official visit to Tunisia from May 21 to 25. He stressed the importance of fruitful cooperation between Tunisia and the Fund in a number of promising fields. For her part, the Prime Minister expressed satisfaction with the results of the meetings held during the visit, as well as with the signing of several agreements between Tunisia and the Fund. Of particular note is the agreement to expand and rehabilitate national road No. 20 between El Faouar and Rjim Maatoug in Kebili, as part of the project to renew and develop railway lines, according to a statement by the Prime Ministry. Several major projects are currently under consideration for implementation in various sectors, including road infrastructure, motorways, rural roads, agriculture, water, and priority projects relating to drinking water. During the meeting, which focused on future medium- and long-term cooperation, the Prime Minister emphasised that the Tunisian state is planning to complete several major projects, particularly in railway transport, education, health, renewable energies, and green project support. She also reviewed the main pillars of the country's economic and social programme, based on the comprehensive vision of President Kais Saied. Zenzri also praised the excellent cooperation between Tunisia and the Arab Fund for Economic and Social Development. The AFESD is an important partner for Tunisia and has contributed to the implementation of 65 projects in various fields, particularly infrastructure, including dams, roads and motorways, as well as production in the industrial, agricultural and rural development sectors, and in primary and higher education. The AFESD is currently contributing to the implementation of 17 projects in various sectors, as well as several technical assistance programmes. In this regard, the Prime Minister recalled Tunisia's core principles, particularly the preservation of national sovereignty, independence and self-reliance, and the country's social policies and regional integration. This is in light of Tunisia's political stability and comprehensive reforms, which have made it an attractive investment destination. The meeting took place in the presence of Minister of Economy and Planning, Samir Abdelhafidh, Chief of Staff of the Prime Minister, Moncef Hamdi and a number of Prime Ministry executives. © Tap 2022 Provided by SyndiGate Media Inc. (
Zawya
19-05-2025
- Business
- Zawya
Jordan secures over $2bln for development projects — ministry
AMMAN — Jordan has secured more than $2.1 billion in grants and concessional loans to fund a number of high-impact national development projects, the Ministry of Planning and International Cooperation announced on Monday. According to a government performance report released by the Ministry of Government Communication, the financing agreements were finalised in April with major international partners, including the World Bank, Germany's KfW Development Bank, the Embassy of the Netherlands, and the Arab Fund for Economic and Social Development (AFESD). The funds are intended to support Jordan's economic modernisation programme, enhance infrastructure, and strengthen social safety nets, the ministry said. Agreements signed with the World Bank total $1.1 billion and target initiatives that stimulate economic growth, promote start-ups and small- and medium-sized enterprises (SMEs), expand social protection, and improve the reliability of the Kingdom's electricity supply, Al Mamlaka TV reported. A key component includes a $400 million Development Policy Loan aimed at improving competitiveness, boosting exports, and increasing employment opportunities, particularly for youth and women. Another $400 million will support the Resilient and Sustainable Social Protection Programme, designed to strengthen the country's response to economic shocks and protect vulnerable populations. Additionally, the second phase of the Jordan Entrepreneurship Fund, with a $50 million investment, will support high-growth start-ups in sectors such as ICT, fintech, green tech, and health tech. A further $250 million is allocated to enhance the efficiency and financial sustainability of the electricity sector, part of Jordan's transition to cleaner energy sources. The ministry also signed a 200 million euro ($215 million) loan agreement with KfW to support the Kingdom's economic modernisation vision. The German development bank described the funding as 'unconditional financial credit' offered at a pivotal time for Jordan's reform agenda. In a bid to bolster water security, The Netherlands committed 31 million euros ($33 million) in grant funding for the National Water Carrier Project, which aims to desalinate 300 million cubic metres of water annually. The project is expected to serve nearly four million residents and address worsening climate-related water shortages. Meanwhile, Jordan launched a new five-year Country Partnership Strategy (2025–2029) with the AFESD, valued at $690 million. The strategic partnership will prioritise investments in water and energy infrastructure, vocational training, and private sector development. The Kingdom secured a $65 million soft loan to finance the development of the Sheikh Sabah Al Ahmad Al Jaber Al Sabah LNG Port. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Jordan Times
18-05-2025
- Business
- Jordan Times
Jordan secures over $2 billion for development projects — ministry
By JT - May 18,2025 - Last updated at May 18,2025 The Ministry of Planning and International Cooperation announced on Monday says that Jordan has secured more than $2.1 billion in grants and concessional loans to fund a number of high-impact national development projects (JT file) AMMAN — Jordan has secured more than $2.1 billion in grants and concessional loans to fund a number of high-impact national development projects, the Ministry of Planning and International Cooperation announced on Monday. According to a government performance report released by the Ministry of Government Communication, the financing agreements were finalised in April with major international partners, including the World Bank, Germany's KfW Development Bank, the Embassy of the Netherlands, and the Arab Fund for Economic and Social Development (AFESD). The funds are intended to support Jordan's economic modernisation programme, enhance infrastructure, and strengthen social safety nets, the ministry said. Agreements signed with the World Bank total $1.1 billion and target initiatives that stimulate economic growth, promote start-ups and small- and medium-sized enterprises (SMEs), expand social protection, and improve the reliability of the Kingdom's electricity supply, Al Mamlaka TV reported. A key component includes a $400 million Development Policy Loan aimed at improving competitiveness, boosting exports, and increasing employment opportunities, particularly for youth and women. Another $400 million will support the Resilient and Sustainable Social Protection Programme, designed to strengthen the country's response to economic shocks and protect vulnerable populations. Additionally, the second phase of the Jordan Entrepreneurship Fund, with a $50 million investment, will support high-growth start-ups in sectors such as ICT, fintech, green tech, and health tech. A further $250 million is allocated to enhance the efficiency and financial sustainability of the electricity sector, part of Jordan's transition to cleaner energy sources. The ministry also signed a 200 million euro ($215 million) loan agreement with KfW to support the Kingdom's economic modernisation vision. The German development bank described the funding as 'unconditional financial credit' offered at a pivotal time for Jordan's reform agenda. In a bid to bolster water security, The Netherlands committed 31 million euros ($33 million) in grant funding for the National Water Carrier Project, which aims to desalinate 300 million cubic metres of water annually. The project is expected to serve nearly four million residents and address worsening climate-related water shortages. Meanwhile, Jordan launched a new five-year Country Partnership Strategy (2025–2029) with the AFESD, valued at $690 million. The strategic partnership will prioritise investments in water and energy infrastructure, vocational training, and private sector development. The Kingdom secured a $65 million soft loan to finance the development of the Sheikh Sabah Al Ahmad Al Jaber Al Sabah LNG Port.
Egypt Independent
14-04-2025
- Business
- Egypt Independent
PM says State moving ahead with economic reform program
Prime Minister Mostafa Madbouly said the State is proceeding with the economic reform program, especially with regard to adopting a flexible exchange rate policy. Madbouly made the remarks during his meeting on Sunday with a delegation of the Arab Fund for Economic and Social Development (AFESD) led by Director General and Chairman of the Board of Directors Badr Mohammed Al-Saad. The meeting was also attended by Minister of Planning, Economic Development and International Cooperation Rania Al-Mashat. The premier expressed the government's interest in enhancing cooperation with the AFESD in the coming period. On her part, the planning minister highlighted the AFESD's important role in supporting several development projects in Egypt. For his part, Al-Saad said the AFESD is keen on fostering cooperation with Egypt and providing the necessary funding for development projects in the country. In this regard, Madbouly reviewed the government's efforts to advance the manufacturing industry and boost Egyptian exports in the areas of pharmaceuticals, textiles, information technology, entrepreneurship, food, and petrochemicals, especially fertilizers. The two sides also discussed the economic repercussions of current regional and international crises.
