Arab Fund to Grant Sudan Economic Reform

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The Arab Fund is scheduled to grant Sudan a loan earmarked for restructuring the country’s economic reform programme.

The fund which held its 186th meeting of the Executive Directors in the United Arab Emirates last week, reviewed the status of new loans provided for its Arab member states to aid them in their economic restricting programme and to help sustain a steady development as well as the provision of work opportunities.

The Arab League Council in a circular published on its website, stated that the meeting also discussed the provision of a loan to the Sudan in response to a submission by the government of the Sudan. The loan will also help boost the economic reform programmes and create the climate for small and medium size projects in the country.

The Arab Fund for Economic and Social Development (AFESD) is a Kuwait-based pan-Arab development finance institution. All member-states of the Arab League are members of the AFESD. As of 2003, however, AFED reportedly held an estimated up to US$7.3 billion in assets.