The Arab Fund’s Lending Activities in 2020 were not affected by the COVID-19 Pandemic

• News

08-September-2020

In spite of the major disruptions to operations suffered by most businesses, for fear of the spread of the Corona virus, the Arab Fund managed to maintain its lending activities to its member states. This was accomplished through desk evaluations of the projects to be financed, instead of field evaluations, and by requesting that the Board of Directors of the Arab Fund approve the requests for loans through circulation, or through virtual meetings.
 

For the year 2020, the Board of Directors of the Arab Fund extended 14 loans totaling KD 352 million. A total of six Arab countries (Oman, Jordan, Mauritania, Morocco, Tunisia and Djibouti) benefitted from these loans, as shown in the following figure:

 

Loans for fighting the COVID- 19 Pandemic accounted for about to 46.9% of the total amount of loans extended by the Fund, the water and sewerage sector accounted for about 30.1%, the transportation and telecommunications sector accounted for about 14.5% and the energy and electricity sector accounted for the remaining 8.5%.