Latest news with #ArabFundforEconomicandSocialDevelopment
CairoScene
3 days ago
- Business
- CairoScene
Arab Fund & Shorooq Partners to Expand SME Credit Access Across MENA
The new partnership aims to unlock non-dilutive capital for startups through structured debt. Jun 04, 2025 A new strategic investment by the Arab Fund for Economic and Social Development's Badir Fund into Shorooq Partners' Nahda Fund II is set to enhance access to credit for small and medium-sized enterprises (SMEs) and startups across the MENA region. The partnership aims to fill lending gaps by providing flexible, non-dilutive financing options for early-stage companies, especially those unable to meet conventional banking criteria. Nahda Fund II—regulated by the Financial Services Regulatory Authority at Abu Dhabi Global Market—offers structured debt solutions specifically designed for tech-enabled businesses. It supports companies with recurring revenue streams and clear paths to profitability, offering venture debt as an alternative to equity-based fundraising. This model allows startups to scale without giving up ownership, easing capital constraints during their growth stages. By investing in the fund, the Badir Fund is deepening its commitment to entrepreneurship and financial inclusion in the region. Since 2009, it has disbursed over $1.5 billion in loans and $3.5 million in grants to support job creation and private-sector development. The new collaboration will target sectors such as fintech, logistics, e-commerce, and AI-powered services—areas where demand for working capital often outpaces supply from banks. Shorooq has already backed high-growth regional startups through this model, including Pakistan-based fintech Abhi, which raised $15 million to expand its earned wage access offering, and The Box, a UAE self-storage startup that secured $12.5 million to support regional expansion.
L'Orient-Le Jour
07-05-2025
- Business
- L'Orient-Le Jour
Head of Arab Fund for Economic Development meets Aoun, vows support to Lebanon
Badr Mohammed Al-Saad, the President of the Arab Fund for Economic and Social Development, outlined the fund's objectives during a series of key meetings in Lebanon on Wednesday, emphasizing its "renewed commitment to assisting Lebanon in overcoming its ongoing challenges," during an interview with the state-run National News Agency. In a meeting with President Joseph Aoun at Baabda Palace, Saad affirmed the fund's readiness to be "the first Arab institution to provide Lebanon with aid and loans soon, to contribute to Lebanon's revival efforts," as reported by the Lebanese Presidency on X. Saad's visit underscores the Arab Fund's support for Lebanon, with two primary objectives: first, to revive long-stalled projects and second, to provide new financing for sectors severely impacted by the ongoing crisis. These sectors include vital areas such as water, electricity, healthcare, education, and infrastructure, like roads. He highlighted the importance of ensuring that technical details related to these projects would be discussed with the relevant ministers, the Council for Development and Reconstruction, and senior Lebanese officials, including the parliamentary speaker, the prime minister, and the governor of the Central Bank," NNA reported. In the meeting with President Aoun, Saad stated, 'We have a technical and study committee in Lebanon for projects, and we maintain close collaboration with the Council for Development and Reconstruction in Lebanon at the level of studying and implementing projects." He also stressed the longstanding positive relationship between Kuwait and Lebanon, underlining that the difficult circumstances Lebanon has endured are now behind them. Aoun responded by expressing optimism about the future, noting, "We are determined to rebuild the state based on new principles, with a primary focus on economic and financial reforms, relying on good governance and providing the necessary facilities for financial funds to finance projects." 'Fund has new approach' Saad also met with Parliamentary Speaker Nabih Berri at Ain al-Tineh, where he informed Berri about the Arab Fund's "readiness to resume its development activities and its ongoing and upcoming programs in Lebanon." During the meeting, Saad elaborated on the fund's new approach, which included "conducting feasibility studies and providing funding for development projects with the assistance of other funds. This approach aims to reduce bureaucratic delays by allowing the fund to handle the preparation and financing of feasibility studies, instead of Lebanon needing to complete them beforehand." Saad highlighted the Arab Fund's ongoing commitment to Lebanon, with over $1.6 billion in financing already provided to Lebanon, in addition to technical grants totaling $63 million. Saad confirmed that the Arab Fund's support had never ceased, stating that the last loan provided to Lebanon was valued at $50 million, directed to the Housing Bank. He clarified that, despite some technical issues, Lebanon had not faced any challenges in securing regular funding from the Arab Fund. Furthermore, the fund participated in a roundtable discussion in Washington, chaired by Lebanese Finance Minister Yassine Jaber, where they reaffirmed their commitment to supporting Lebanon. Saad also acknowledged the ongoing brain drain from Lebanon, attributing it to the economic and political turmoil the country has faced. He emphasized the importance of restoring Lebanon's lost expertise and announced the Arab Fund's willingness to finance studies and training programs to help rebuild Lebanon's intellectual capital. 'Electricity sector is a primary concern' In terms of sector priorities, Saad emphasized "that the electricity sector was a primary concern, with its current high production costs compared to new projects like solar energy and technology-based energy solutions. Ensuring a reliable electricity supply is crucial for reducing the financial burden on consumers and bolstering the Lebanese economy. Saad's visit also comes in the context of improving regional relations. On Sunday, the UAE officially lifted its travel ban on Lebanese citizens following a visit by Aoun to Abu Dhabi. The decision, effective Wednesday, marks a positive shift in relations between Lebanon and the Gulf monarchies, which had been strained due to tensions between Iran and Saudi Arabia and Hezbollah's influence in Lebanese politics.
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.
Zawya
10-04-2025
- Business
- Zawya
‘AFESD plans $750mln in support to development projects in Jordan'
AMMAN — The Arab Fund for Economic and Social Development (AFESD) is planning to allocate around $750 million to support development projects in the Kingdom over the next year, to be administered in cooperation with regional and international partners, including the World Bank and the European Investment Bank. In remarks to the Jordan News Agency, Petra, Senior Advisor to the AFESD director-general Mirza Hassan said that the fund has shifted its developmental financing and operational restructuring policies, with Jordan selected as the 'initial incubator' of the new vision 'in culmination of the exceptional partnership that exceeded $3 billion in investments.' 'This strategy, developed over a year by a consortium of Arab and Jordanian experts, aims to convert pressing regional development challenges into sustainable investment opportunities, with a targeted emphasis on critical sectors like water, energy, and digital transformation,' he said. Hassan explained that Jordan was chosen as the optimal starting point for this strategy, 'given its clear economic vision and its proactive engagement with recent economic, political, and administrative reforms. "Jordan is one of AFESD's largest development partners, with over $3 billion in investments, reflecting our strong confidence in its economy," Hassan said. The year-long restructuring process, he added, aims to transform AFESD into a more dynamic and responsive development institution, capable of addressing the evolving economic and social challenges in Arab nations. He said that the fund's key focus in Jordan will be on the National Water Carrier project. 'The fund will also prioritise sustainable energy projects, including solar and wind power, to meet Jordan's growing energy demands.' Investments in education and healthcare infrastructure, including school construction and hospital development, are also planned, he said, emphasising the critical role of public-private partnerships in these sectors. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Zawya
10-04-2025
- Business
- Zawya
Jordan, AFESD launch strategic partnership to fund development projects
AMMAN: The Cabinet, during a session chaired by Prime Minister Jafar Hassan, approved on Wednesday the launch of a strategic partnership with the Arab Fund for Economic and Social Development (AFESD), introducing a framework for financing a range of priority development projects aligned with Jordan's Economic Modernisation Vision. The initiative, which covers the period 2025–2029, marks a new phase of cooperation between the two sides and, for the first time, allows for the financing of private sector initiatives. Jordan will be the first country to adopt this model, with similar agreements expected in other Arab states, according to a Prime Ministry statement. The initiative will focus on key sectors including water, social services, private sector growth, value-added industries, public-private partnerships, digital transformation, export development and start-up support. Under the agreement, each project will require Cabinet approval prior to implementation. Jordan's partnership with the AFESD spans over five decades, during which the fund has supported major projects in sectors such as energy, agriculture, transportation, industry, water, mining and social development, the statement said. AFESD is planning to allocate around $750 million to support development projects in the Kingdom over the next year, to be administered in cooperation with regional and international partners, including the World Bank and the European Investment Bank. In remarks to the Jordan News Agency, Petra, Senior Advisor to the AFESD director-general Mirza Hassan said that the fund has shifted its developmental financing and operational restructuring policies, with Jordan selected as the 'initial incubator' of the new vision 'in culmination of the exceptional partnership that exceeded $3 billion in investments.' 'This strategy, developed over a year by a consortium of Arab and Jordanian experts, aims to convert pressing regional development challenges into sustainable investment opportunities, with a targeted emphasis on critical sectors like water, energy, and digital transformation,' he said. The advisor explained that Jordan was chosen as the optimal starting point for this strategy, 'given its clear economic vision and its proactive engagement with recent economic, political, and administrative reforms. "Jordan is one of AFESD's largest development partners, with over $3 billion in investments, reflecting our strong confidence in its economy," he said. He added that the fund's key focus in Jordan will be on the National Water Carrier project. 'The fund will also prioritise sustainable energy projects, including solar and wind power, to meet Jordan's growing energy demands.' Investments in education and healthcare infrastructure, including school construction and hospital development, are also planned, he said, emphasising the critical role of public-private partnerships in these sectors. In a related decision, the Cabinet also approved a memorandum of understanding with the AFESD to help finance the activities of the Jordanian Hashemite Fund for Human Development (JOHUD). The funds will also support social and economic development programmes aimed at enhancing skills and addressing local community needs. The Cabinet also extended its framework agreement with Fortescue Future Industries for a green hydrogen and ammonia production project in the Aqaba Special Economic Zone. The extension, valid until March 31, 2026, is intended to help developers meet investment requirements, facilitate infrastructure financing, and standardise investment contracts. It also aims to clarify incentives and expected returns for future investors in the green hydrogen sector. The Council of Ministers also approved the settlement of 979 outstanding tax cases between taxpayers and the Income and Sales Tax Department. The decision is part of ongoing efforts to ease financial pressures on businesses, enhance tax compliance, and stimulate economic growth and expansion. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
