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:
- Highlighting the importance of Arab Development Projects, in
particular joint ones.
- Enhancing the quality of the selection, evaluation, and execution
of development projects in the Arab World.
- Encouraging Arab and international investment in development
projects, whether they are economic or social.
- 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
- An honorary certificate that includes the name of the Award
and the name of the winning project.
- A US$ 100,000 monetary reward. If two projects are declared
as winners, the award is to be split evenly between them.
- 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
- That the project has been completed.
- 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).
- That the cost of the project should be at least $ 50 Million,
for public sector projects.
- That the cost of the project should be at least $ 20 Million,
for private sector projects.
- That the cost of the project should be at least $ 1 Million,
for projects of a creative nature.
- That the nomination documents include recent photographs of
the project (taken less than 3 months from the application deadline).
- 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
The selection of the winning project is based on the following selection criteria:
- a- Pre-construction Services (20%)
- Technical, Financial and Administrative Study, along with project
evaluation and the project selection criteria.
- Expected budget for project execution.
- Project execution phases and its time schedule.
- b- Project Delivery (25%)
- Quality of project execution.
- Adherence to designs and in line with specifications.
- Within the projected budget that was estimated before execution.
- In accordance with the set time schedule.
- Project operation and management, and the application of proper
- c- Project Impact (40%)
- Creation of job opportunities.
- Positive effect on Gross Domestic Product.
- Achievement of expected economic and social returns.
- Decrease in imports/increase in exports.
- Contributed to solving an existing problem.
- Its benefits impacted more than one Arab country.
- Produced unexpected benefits.
- Utilize local raw materials.
- d- Other Criteria (15%)
- Environmentally friendly (e.g., use of clean energy).
- Achieved one or more of the Sustainable Development Goals.
- Utilized modern technology.
- Received merit awards.
Selecting the Winning Project
- 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.
- 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
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
- The award will be given each year during the Annual meetings
of the Arab Fundsí Governors.
- 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
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.