The Abdlatif Y. Al-Hamad Development Award in the Arab World
The Award is given to the best economic and social development project in the Arab world, either partially or fully funded by a member of the Arab Coordination Group, while giving priority to joint Arab projects.
The Arab Fundís Vision with respect to the Award
To promote, distinguish and highlight successful development projects that have either led to solving existing problems, or contributed to enhancing the economic and social capacities in the Arab World, while also bringing awareness to such projects, in order to make them an inspiration to promote creativity, better management, more efficient construction and maximization of expected benefits of projects.
The Award aims at:
  1. Highlighting the importance of Arab Development Projects, in particular joint ones.
  2. Enhancing the quality of the selection, evaluation, and execution of development projects in the Arab World.
  3. Encouraging Arab and international investment in development projects, whether they are economic or social.
  4. Spreading the experience gained from successful development projects among individuals, Arab authorities, and Arab institutions working in the field of economic and social development.
Components of the Award
  1. An honorary certificate that includes the name of the Award and the name of the winning project.
  2. A US$ 100,000 monetary reward. If two projects are declared as winners, the award is to be split evenly between them.
  3. A plaque bearing the name and logo of the award.
To watch a video explaining why the name of Mr. Al Hamad was given to the award, and to know more details about it, watch the below video.
The Award will be given to the best development project in the Arab World, associated with members of the Arab Coordination Group, and in accordance with the following requirements:
  1. That the project has been completed.
  2. That the project entered operations during the past 6 years, i.e. between January 1st, 2018, and the end of December 2023 (for the second edition of the Award).
  3. That the cost of the project should be at least $ 50 Million, for public sector projects.
  4. That the cost of the project should be at least $ 20 Million, for private sector projects.
  5. That the cost of the project should be at least $ 1 Million, for projects of a creative nature.
  6. That the nomination documents include recent photographs of the project (taken less than 3 months from the application deadline).
  7. That the project meets half the eligibility requirements listed under "Project Impact".
Applying for the Award
Member Institutions of the Arab Coordination Group, that are interested in nominating projects for the Award, should fill out an Application Form. One form should be completed per nominated project.
In order to facilitate filling out the Application Form, member institutions can access the Project Selection Criteria.
The selection of the winning project is based on the following selection criteria:
  • a- Pre-construction Services (20%)
    1. Technical, Financial and Administrative Study, along with project evaluation and the project selection criteria.
    2. Expected budget for project execution.
    3. Project execution phases and its time schedule.
  • b- Project Delivery (25%)
    1. Quality of project execution.
    2. Adherence to designs and in line with specifications.
    3. Within the projected budget that was estimated before execution.
    4. In accordance with the set time schedule.
    5. Project operation and management, and the application of proper governance.
  • c- Project Impact (40%)
    1. Creation of job opportunities.
    2. Positive effect on Gross Domestic Product.
    3. Achievement of expected economic and social returns.
    4. Decrease in imports/increase in exports.
    5. Contributed to solving an existing problem.
    6. Its benefits impacted more than one Arab country.
    7. Produced unexpected benefits.
    8. Utilize local raw materials.
  • d- Other Criteria (15%)
    1. Environmentally friendly (e.g., use of clean energy).
    2. Achieved one or more of the Sustainable Development Goals.
    3. Utilized modern technology.
    4. Received merit awards.
Selecting the Winning Project
  1. An independent committee (called the Award Judging Committee) will review the nominated applications and select the winning project. The committee will be composed of three independent members, from outside the Arab Fund, to be selected by the Director General/Chairman of the Board of the Directors of the Arab Fund, along with a committee secretary selected from among the Arab Fundís staff.
  2. A technical committee, chosen from the Arab Fundís staff, will coordinate the activities of the Award Judging Committee.
The Winning Projects


Nominations close on 16 November 2023

The following timeframe illustrates the various steps in the application for the Award, and the time needed by the Arab fund to review the applications and determine the winning project, in preparation for declaring the winning project(s) during the Annual meetings of the Governors of the Arab Fund.

17 September Ė 16 November 2023

Sending project nominations by the institutions of the Arab Coordination Group

19 November Ė 8 December 2023

Review of nominated projects and completing of missing information, by the Awards Technical Committee

7 January Ė 7 March 2024

Project Evaluation by Award Judging Committee

8 March Ė 14 March 2024

Endorsement of Winning Project, by the Director General of the Arab Fund, based on the Award Judging Committeesí nomination

17 March 2024

Announcing the Winning Project

End of April 2024

Honoring the Winning Project

Frequency of the Award and its Announcement
  1. The award will be given each year during the Annual meetings of the Arab Fundsí Governors.
  2. The announcement of the winning project will be made through the proper channels.
Brief Biography of Mr. Abdlatif Y. Al-Hamad

The name Abdlatif Y. Al-Hamad has become synonymous with joint Arab development and economic efforts. As the previous Director General/Chairman of the Board of Directors of the Arab Fund, he was one of the leading pioneers of his generation in this area over the last six decades. His remarkable record has placed him in the forefront as one of the founders of Arab economic development.

As one of Kuwaitís most dedicated men, Mr. Al-Hamad is a leader in local and Arab development work, the chair and member of the board of several national and international financial institutions, and the main founder in the establishment of several Joint Arab Development institutions. His successful career extends over several decades.

He is a graduate of Victoria College in Alexandria, Egypt, and attended the American University in Cairo, after which he earned degrees from Claremont College and Harvard and Stanford Universities, all in the United States of America.

Over the past six decades, Mr. Al-Hamad has acquired extensive experience and a rich diverse background through operating in the public domain, with particular emphasis on development activities. This was achieved through his leadership of the Kuwait Fund for Arab Economic Development during the period 1963 Ė 1982, his tenure as the Minister of Finance and Planning, in Kuwait, during the period 1981 Ė 1983 and his role as the Director General/Chairman of the Board of Directors of the Arab Fund during the period 1985 Ė 2020.

The development projects that Mr. Al-Hamad oversaw, both at the Kuwait Fund and the Arab Fund, significantly contributed to raising the standard of living for millions of individuals in the Arab World, as they included large scale projects in the infrastructure, water and electricity networks, energy, land ports, communications, agriculture, irrigation, rural development, industry and mining sectors, as well as other sectors.

Mr. Al-Hamad is considered to have his own school of thought, which is not limiting financing to projects and building structures, but extending it to include human development through policies and programs to support and encourage Arab pioneers and entrepreneurs in various fields, including research, cultural and technical fields, given that they represent the ultimate goal and the main means for development.

Several Kings, Heads of States, and heads of institutions, in the Arab World, have bestowed upon Mr. Al-Hamad their highest awards and medals of distinction. He has also been awarded honorary Ph.D. degrees from regional and international educational organizations, and several regional development organizations have been named in his honor.

Amongst Mr. Al-Hamadís long list of achievements, is his supervision of the construction of the Arab Organizationsí HQ building. He collected several paintings and objects from Arab artists and artisans, along with rare and ancient artifacts which hold significant historic value, and displayed them throughout the building creating an important cultural and artistic landmark.

Copyright © 2008-2022 AFESD All Rights Reserved.