The Arab Fund for Economic and Social Development (AFESD) recently agreed to provide the Lebanese government with seven million Kuwaiti dinars ($23 million) to upgrade its national power grid, the official Kuna news agency reported.
Established in 1974, AFESD is a multilateral Arab development corporation. Its membership consists of all states that are members of the Arab League. The Fund’s function is to assist the economic and social development of Arab countries through financing development projects, with preference given to overall Arab development and to joint Arab projects. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
