During a ceremony held in the Arab Fund’s main ballroom, the staff of the Arab Fund honored H.E. Mr. Abdlatif Y. Al-Hamad

• News

04-October-2020

At the conclusion of his assignment as the Director General/Chairman of the Board of Directors of the Arab Fund, the staff of the Fund held a ceremony to honor H.E. Mr. Abdlatif Y. Al-Hamad for his capable leadership and accomplishments, a period which witnessed a steady increase in the Fund’s operations and profitability. The ceremony was held in the Fund’s main ballroom.
 

Since the start of its operations, and up to the middle of September 2020, the Arab Fund provided 703 loans to 17 Arab countries, totaling around KD 11 Billion. These loans helped finance project having a total cost of around KD 30 Billion. Most notably, the Arab Fund took the lead in financing most electrical interconnection projects in the Arab world, participated in financing of projects to install 29 GW of electrical generation capacity, the construction of several major dams, along with the construction of thousands of kilometers of road networks. During the same period, the Fund also extended over 1,200 grants totaling around KD 400 Million.
 

The loans extended by the Arab Fund aided the efforts of the Arab governments in implementing their development plans, and in providing an environment conducive to investments in new projects and the upgrade of existing ones. On the other hand, the grants provided by the Fund financed institutional support and training activities, enhanced the execution of emergency programs, along with the preparation of feasibility studies for projects in the Arab world.