AFESD Resources

Arab Fund for Economic and Social Development An Independent Arab Regional Financial Organization - Kuwait Statement of Financial Position as at 31 December 2006 *(KD 000) - Note: KD 1 = $ 3.5*
	2006	2005
ASSETS
Cash and cash equivalents	25,574	19,531
Investments	516,631	398,210
Investment in associate	49,678	48,834
Loans	1,887,942	1,913,089
Receivables from Participants in the Building	9,443	9,126
Other Assets	22,916	21,742
Total Assets	2,512,184	2,410,532

LIABILITIES
Grants	23,454	17,465
Provision for employees' pension	10,342	10,527
Other Liabilities	27,260	28,041
Total Liabilities	61,056	56,033

MEMBER COUNTRIES EQUITY
Authorized Capital KD 800 million (80,000 shares of KD 10,000 each)
Subscribed and Paid-up Capital	663,040	663,040
General Reserve	193,990	182,027
Additional Reserve	1,583,419	1,498,210
Technical assistance reserve	8,688	10,489
Change in fair value reserve	1,991	733
Total Member Countries’ Equity	2,451,128	2,354,499
Total liabilities and members’ equity	2,512,184	2,410,532

Arab Fund for Economic and Social Development An Independent Arab Regional Financial Organization - Kuwait Statement of Income and Expenditure For the Year Ended 31 December 2006 *(KD 000) - Note: KD 1 = $ 3.5*
	2006	2005
INCOME
Interest income from loans	74,669	74,428
Net gain from investments	47,440	31,835
Interest income	1,940	692
Income from associate	1,795	1,049
Other income	726	508
Operating expenses	(120)	(146)
Total Income	126,450	108,366

Total Administrative Expenses	6,558	5,870
Net profit before provision and extraordinary item	119,892	102,496
(Provision)/Write back of provision for loans	(267)	122
Extraordinary item	-	-
Net Profit for the year	119,625	102,618

Arab Fund for Economic and Social Development An Independent Arab Regional Financial Organization - Kuwait Statement of Cash Flows For the Year Ended 31 December 2006 (KD 000) - Note: KD 1 = $ 3.5
	2006	2005
CASH FLOW FROM OPERATING ACTIVITIES:
Net profit for the year	119,625	102,496
Adjustments:
Interest income from loans	(74,669)	(74,428)
Unrealized gains on investments	(29,682)	(4,850)
Interest income	(1,940)	(692)
Share in results of associate	(1,795)	(1,049)
Provision of loans	267	(122)
Provision for pension fund	1,498	1,453
	13,304	22,930
Changes in operating assets and liabilities:
Net change in trading investments	(87,681)	44,251
Loan Disbursements*	(281,470)	(282,158)
Loan repayments	306,350	155,127
Disbursements of grants	(7,793)	(6,214)
Receivable from participants in the building	(317)	322
Other assets	(253)	(474)
other liabilities	(11,043)	(589)
	(68,903)	(66,832)
Interest received	75,688	75,282
other liabilities	(1,683)	(989)
NET CASH FLOW FROM OPERATING ACTIVITIES	5,102	7,461

Arab Fund for Economic and Social Development An Independent Arab Regional Financial Organization - Kuwait Growth in Resources 1972-2006
	Paid-up Capital	Resources	Reserves
1972	15.4	16	0.6
1973	21.7	22.7	1
1974	36	38.7	2.7
1975	52	57.4	5.4
1976	99.6	108.5	8.9
1977	131.9	145.7	13.8
1978	164.9	186.2	21.3
1979	202.7	225.8	23.1
1980	260.7	313.2	52.5
1981	317.5	393.3	75.8
1982	374.2	482.9	108.7
1983	450.1	598.4	148.3
1984	520.5	680.4	159.9
1985	581.1	797.4	216.3
1986	642.2	960.5	318.3
1987	644.2	1009.3	365.1
1988	644.3	1062.0	417.7
1989	663	1176.2	513.2
1990	663	1236.70	573.7
1991	663	1245.20	582.2
1992	663	1344.40	681.4
1993	663	1424.90	761.9
1994	663	1421.50	758.5
1995	663	1495.30	832.3
1996	663	1584.80	921.8
1997	663	1675.0	1012
1998	663	1747.8	1084.8
1999	663	1,828.7	1165.7
2000	663	1,933.2	1,270.2
2001	663	1,983.9	1,316.2
2002	663	2,054.4	1,391.4
2003	663	2,169.8	1,506.8
2004	663	2,266.0	1,603.0
2005	663	2,354.5	1,603.0
2006	663	2,459.0	1,796.0