Arab Fund for Economic & Social Development
Annual Report 2014
Arab Fund for Economic & Social Development P.O. Box: 21923 - Safat 13080, Kuwait
Telephone: +965 24 95 90 00 Facsimile: +965 24 95 93 90 / 91 / 92
Electronic Mail: [email protected] Internet Web Site: www.arabfund.org
Address: Arab Organizations Headquarters Building Airport Road, Shuwaikh State of Kuwait
Annual Report 2014 1 2 Annual Report 2014 Arab Fund For Economic & Social Development
Member States, Governors and Alternate Governors
Member States(1) Governors(2) Alternate Governors(2)
The Hashemite Kingdom of H.E. Dr. Ibrahim Saif H.E. Dr. Saleh A. Al-Kharabsheh Jordan
The Republic of Tunisia H.E. Mr. Hakim Ben Hammouda -
The Algerian Democratic and H.E. Mr. Mohamed Djellab - People’s Republic
The Republic of Sudan H.E. Mr. Bader El-Din Mahmoud Abbas -
The Republic of Iraq - -
H.E. Dr. Ibrahim Bin Abd-El-Aziz The Kingdom of Saudi Arabia - Al- Assaf
The Syrian Arab Republic - -
State of Libya H.E. Dr. Al-Kilani Abdul Karim Al-Kilani -
The Arab Republic of Egypt H.E. Dr. Naglaa Anwar El Ehwany H.E. Dr. Ashraf El-Araby
H.E. Dr. Mohamed Ahmed Ali The Republic of Yemen H.E. Dr. Mohamed Al-Maitami Al-Hawri
The State of Kuwait H.E. Mr. Anas Khalid Al Saleh H.E. Mr. Abdulwahab Al-Bader
The Republic of Lebanon H.E. Mr. Nabil Adnan Al-Jisr H.E. Mr. Alain Bifani
The Kingdom of Morocco H.E. Mr. Mohamed Boussaid H.E. Mr. Khalid Safir
United Arab Emirates H.E. Mr. Obaid Humaid Al-Tayer -
H.E. Sheikh Ahmed Bin Mohammed The Kingdom of Bahrain H.E. Mr. Yousif Abdulla Humood Al-Khalifa
The State of Qatar H.E. Mr. Ali Shareef Al Emadi -
The Somali Democratic - - Republic* The Islamic Republic of H.E. Dr. Sidi Ould Bebbaha Ould Tah H.E. Mr. Ahmedo Ould Ely Mauritania H.E. Mr. Darwish Bin Ismaeel Sultanate of Oman - Bin Ali Al-Bulushi
Palestine H.E. Dr. Nabil Hani Al-Qaddumi H.E. Dr. Ismail El-Zabri
The Republic of Djibouti H.E. Mr. Ilyas Moussa Dawaleh -
The Union of the Comoros H.E. Mr. Mohamed Ali Soilihi -
(1) States are listed in the order in which their names appear in the list of signatories to the Agreement Establishing the Fund, and according to the date of adhesion to the Agreement. (2) Names of Governors and Alternate Governors are given as at 31/12/2014. * Membership suspended pursuant to the Board of Governors’ Resolution No. 3 of 1993, which has been extended annually by subsequent resolutions of the Board of Governors until 2014.
Annual Report 2014 3 4 Annual Report 2014 Board of Directors
Director General / Chairman of the Board of Directors Mr. Abdlatif Y. Al-Hamad
Members of the Board Mr. Abdulwahab Al-Bader Mr. Ibrahim Bin Mohamed Al Mofleh Mr. Benaouda Merad Mr. Taher Sarkez Dr. Samir El Sayiad Mr. Mohamed Abdulbaki Mr. Ali Bin Mohammad Bin Jaffar Mr. Fouzi Lekjaa
Annual Report 2014 5 6 Annual Report 2014 Basic Financial Data on the Arab Fund as at 31/12/2014
(KD Million)
Capital* 2554.9
Total Resources 3051.8
Loans
Number of Loan Agreements Signed During the Year 15
Total Amount of Loan Agreements Signed During the Year 412.5
Total Number of Loans 626
Cumulative Amount of Loan Agreements Signed 8398.7
Cumulative Disbursements on Effective Loans 5614.4
Cumulative Loan Repayments 2857.4
Outstanding Debt Owed to the Arab Fund 2757.0
Grants
Total Number of Grants 1062
Cumulative Grant Commitments 203.9
Cumulative Grant Disbursements 155.0
* During its Annual Meeting held on April 2, 2013, the Board of Governors resolved to increase the authorized capital of the Arab Fund to KD 4 billion and to raise the subscribed capital to KD 3 billion. This capital increase is to be effected through the capitalization of part of the additional reserve in the amount of KD 500 million, and by means of additional subscriptions by member states in the aggregate amount of KD 500 million, to be paid in installments over 5 years. The amount mentioned above represents the paid-in capital.
Annual Report 2014 7 8 Annual Report 2014 Overview of Arab Fund Activities
Introduction
During 2014, the Arab Fund’s lending program focused on continued support to Arab countries’ efforts in implementing high-priority economic and social projects. Priority was given to infrastructure projects aimed at providing basic services, increasing production capacity, and improving the investment environment. The Arab Fund also continued to allocate national and inter-Arab grants to member countries, aimed at providing institutional support and training, implementing emergency programs, organizing seminars and conferences, conducting general studies and research, as well as feasibility studies and project preparation.
Loans
During the year, the Arab Fund extended 15 loans, in 8 Arab countries, for a total amount of KD 412.5 million. These loans contributed to the implementation of 13 public sector projects, including 12 new and 1 previously financed project, as well as 2 private sector projects. The total cost of these projects was estimated at about KD 1.2 billion, with the loans provided by the Arab Fund covering about 34.2% of that amount. The share of loans provided to the energy and electricity sector represented about 31.5% of the total loan commitments during the year, and that of the social services sectors about 19.6%. The agriculture and rural development sector accounted for about 19.4%, the transport sector for about 9.7%, the water and sewerage sector for about 7.3%, the industry and mining sector for about 1.8%, and the other sectors for about 10.7%, of the total amount of loans.
Cumulative Loans
Since the commencement of its activities in 1974 and until the end of 2014, the cumulative number of loans provided by the Arab Fund to the public and private sectors has reached 626 for a total amount of about KD 8.4 billion. These loans contributed to the financing of 530 projects in 17 Arab countries, and covered about 25.3% of the total cost of these projects. The infrastructure sectors received the majority of loans extended during that period, with a share of about 69.0% of the total amount of loans, followed by the productive sectors with about 20.3%, then the social services sectors with about 7.7%, and the other sectors with about 3.0%. The cumulative number of loans extended to the private sector over that period has reached 14, for a total amount of about KD 56.0 million. Cumulative disbursements of loans extended to both the public and private sectors over the period 1974 - 2014 amounted to about KD 5.6 billion, representing about 77.0% of the net amount of effective loans. The Arab Fund also contributed to the capital of 7 private companies, for a total amount of about KD 31.7 million, in addition to its contribution to the capital of the fund established by the International Finance Corporation (IFC).
Annual Report 2014 9 Grants
The total amount of grants provided by the Arab Fund during 2014 reached about KD 13.1 million, and was used to execute 20 national grants and 11 inter-Arab grants, and to increase 2 national grants provided in 2013. The total amount of the national grants was about KD 10.8 million, of which about 66.0% was allocated for institutional support and training, and about 29.3% for the implementation of emergency programs. The total amount of the inter-Arab grants was about KD 2.3 million, of which about 84.8% was allocated for institutional support and training, and about 15.2% for seminars and conferences.
Cumulative Grants
The cumulative number of grants extended by the Arab Fund, since the commencement of its operations and until the end of 2014, has reached 1062, for a total amount of about KD 203.9 million. They included 560 national grants amounting to about KD 143.1 million and 502 inter-Arab grants amounting to about KD 60.8 million. About 81.9% of the net amount of these grants was disbursed.
Support to Palestine
The Arab Fund continued its annual contribution to the Urgent Program in Support of the Palestinian People, in compliance with the decisions of the Arab Fund’s Board of Governors since 2001. During 2014, the Arab Fund allocated about KD 3.4 million to the twelfth phase of the program. Thus, the total contribution of the Arab Fund to this program over the period 2001 - 2014 reached about KD 127.3 million.
Other Activities
The Arab Fund continued to act as the Coordination Secretariat of the Coordination Group, which includes the Arab national and regional development institutions, and prepare their periodic meetings. The thirteenth meeting of the Heads of these institutions took place during the year at the Arab Fund headquarters. The seventy third and seventy fourth Coordination Group meetings also took place during the year, with the participation of several international institutions.
By the end of the year, a total of 18 Arab countries had contributed to the Special Account established to finance small and medium private sector projects, in addition to the Arab Fund. Seven loans were approved during the year by the Special Account’s management committee, for a total amount of US Dollars 260.0 million. These loans were provided to governments and intermediary financial institutions in six Arab countries.
10 Annual Report 2014 The Arab Fund allocated a grant to conduct a study aimed at achieving food security for Arab countries through the Sudan project. The study comprises four tasks, two of them were completed in 2014, and it is expected that the remaining two will be completed in the first quarter of 2015.
The Arab Fund organized in cooperation with the World Bank, the Third Arab Development Symposium on “Reforming the Education System in the Arab World with the View of Enhancing Employability of Outcomes”. The Symposium aimed at providing an overview of the status of the employability of the educational sector graduates in the Arab countries.
Financial Statements
According to the Arab Fund’s financial statements for the year ending 31/12/2014, total income was about KD 92.75 million compared to about KD 87.15 million in 2013, while total administrative expenses were about KD 8.33 million compared to about KD 8.06 million in 2013. The Arab Fund’s net profit for the year 2014 was about KD 84.43 million, compared to about KD 33.51 million for the year 2013. The statements also show that total member countries’ equity was about KD 3051.76 million as at 31/12/2014, compared to about KD 2824.79 million at the end of 2013.
Annual Report 2014 11 12 Annual Report 2014 First: The Lending Program
Preamble
During 2014, the Arab Fund continued to support projects that have high priority in the development plans of Arab countries and strengthen their economic and social development efforts. The lending program for the year focused mainly on projects in the energy and electric power sector, the social services sectors, and the agriculture and rural development sector. The program also included projects in the sectors of transport, water and sewerage, and industry, in addition to projects in other sectors.
Appraisal of Projects and Loan Agreements Signed
During the year, the Arab Fund studied several requests it received from member countries for financing projects. These projects were appraised by the Arab Fund’s technical staff through office work and field trips to ensure their technical and economic feasibility, and their conformity with development program priorities in member countries.
A total of 15 loan agreements were signed during the year, for a total amount of about KD 412.5 million. These loans contributed to the financing of 13 public sector projects and 2 private sector projects, in 8 Arab countries. The total cost of these projects was estimated at about KD 1.2 billion, with the loans provided by the Arab Fund covering about 34.2% of that amount.
Effective Loan Agreements
A total of 17 loan agreements with 8 Arab countries, amounting to about KD 561.0 million, became effective in 2014. These loans were provided for the implementation of strategic projects in areas that included energy, transport, agriculture, social services, water and sewerage, industrial projects, and other sectors.
Public Sector Projects
The Arab Fund extended 13 public sector loans during the year, amounting to KD 405.0 million, for the implementation of 12 new projects and 1 previously financed project. Table 1 shows the loan commitments by the Arab Fund during 2014, and Annex 1 provides the project sheets for these loans.
Infrastructure sectors accounted for about 48.5% of the total amount of loans provided during 2014, in light of priorities of member countries’ plans and programs that focused on improving these sectors, and providing an environment conducive to investment and employment opportunities. Three loans were extended to finance energy and electricity projects, and amounted to KD 130.0 million or about 31.5% of the total. These projects aim at meeting the increasing demand for electricity in both Egypt and Mauritania, through the electrical interconnection between Egypt and Saudi Arabia, the construction of a
Annual Report 2014 13 power generating station in Assiut, Egypt, and the construction of a solar power station in Nouakchott and the modernization of the electric system, in Mauritania. A loan was extended to the transport sector, for an amount of KD 40.0 million, or about 9.7% of the total, for the improvement of land transport in a number of Tunisian Governorates. A loan for an amount of KD 30.0 million was also extended for the completion of wastewater facilities in Lebanon.
The Arab Fund’s loans included four loans extended to the social services sectors, for a total amount of KD 81.0 million, to finance housing projects in Oman, Lebanon and Djibouti, and a hospital in Yemen. Two loans were also allocated for agriculture and rural development projects, for a total amount of KD 80.0 million, to meet the increasing demand for irrigation through the desalination of sea water in Morocco and the construction of a dam in Tunisia. The Arab Fund also provided two loans, for a total amount of KD 44.0 million, to contribute to the financing of infrastructure development projects in Sana’a, Yemen, and in an industrial area in Oman.
14 Annual Report 2014 Table 1 Loan Commitments During 2014
Date of Amount Signature No. Country Project of Loan of Loan (KD Million) Agreement
A: Public Sector Projects
Social Housing - Phase II Republic of Djibouti 1 (Supplementary Loan) 1.0 09/03/2014 Electrical Interconnection Between the Arab 2 Arab Republic of Egypt Republic of Egypt and the Kingdom of Saudi 45.0 24/03/2014 Arabia Assiut Power Generating Station Arab Republic of Egypt 3 (El-Walidia) 650 MW 55.0 24/03/2014 Infrastructure Facilities for Sumail Industrial Sultanate of Oman 4 Estate 14.0 08/04/2014 5 Sultanate of Oman Housing Program 40.0 08/04/2014
6 Republic of Yemen Infrastructure Development in Sana’a City 30.0 08/04/2014 Regional and Rural Roads Network Republic of Tunisia 7 (Phase III) 40.0 08/04/2014 8 Republic of Lebanon Housing Project 34.0 11/05/2014 Completion of Wastewater Facilities in Republic of Lebanon 9 Lebanon 30.0 11/05/2014 10 Republic of Tunisia Upper Mellegue Dam 30.0 24/06/2014 Construction of a Solar Power Station in Islamic Republic of Nouakchott and the Modernization of the 11 Mauritania 30.0 24/06/2014 Electric System Irrigation of the Chtouka Aït Baha Region Kingdom of Morocco 12 with Desalinated Water 50.0 24/06/2014 13 Republic of Yemen Al Ghaydah Central Hospital 6.0 24/06/2014
Subtotal 405.0
B: Private Sector Projects
14 Arab Republic of Egypt Al Nouran Sugar 3.5 27/04/2014
15 Republic of Yemen Expansion of Flour Mills at Saleef Port 4.0 25/05/2014
Subtotal 7.5
Total 412.5
Annual Report 2014 15 Private Sector Projects
The Arab Fund continued to support and promote the role of the private sector in the economic and social development of Arab countries. During the year, two loans, amounting to about KD 7.5 million, were extended to contribute to the financing of two private sector projects. The first loan, for an amount of KD 4.0 million, was extended to contribute to the financing of the expansion of a flour mill factory in Yemen, which has an estimated total cost of about KD 7.6 million. The second loan, for an amount of about KD 3.5 million, was extended to contribute to the financing of a sugar production project in Egypt, which has an estimated total cost of about KD 102.2 million; the Arab Fund had previously subscribed to the capital of the project company in an amount equivalent to KD 6.5 million (Table 1). During the year, the Arab Fund studied 14 requests to participate in the financing of private sector projects in 8 Arab countries; they included 3 in the energy sector, 2 in each of the tourism, housing, health, industry, and fishing sectors, in addition to 1 project in the transport sector.
Monitoring of Projects
The Arab Fund continued to monitor the progress of ongoing projects, follow up the fulfillment of the covenants set forth in their loan agreements, and take the necessary steps to ensure their proper implementation. During 2014, 5 projects were completed; their total cost amounted to about KD 103.0 million, with the Arab Fund covering about 60.7% of that cost.
Cumulative Lending Activities
Since the commencement of its operations in 1974 and until the end of 2014, the Arab Fund extended 626 loans, for a total amount of about KD 8.4 billion. These loans contributed to the financing of 530 projects in 17 Arab countries, and covered about 25.3% of the total cost of these projects. Annex 3 presents a summary of the loans extended to member countries over the period 1974 – 2014, and Annex 5 provides details on these loans.
The cumulative amount of loans extended by the Arab Fund for infrastructure projects has reached about KD 5.8 billion, or about 69.0% of the total amount of loans, of which about KD 2.7 billion was allocated for energy and electricity projects, about KD 2.2 billion for transport and telecommunications projects, and about KD 0.9 billion for water and sewerage projects.
Loans for the productive sector projects amounted to about KD 1.7 billion, or about 20.3% of the total amount of loans, of which about KD 1.2 billion was allocated for projects in agriculture and rural development, and about KD 0.5 billion for projects in industry and mining. Loans for projects in the social services sectors amounted to about KD 0.6 billion, accounting for about 7.7% of the total, and were allocated to projects in education, health, housing and social development. The remaining 3.0% of the total amount of loans, about KD 0.3 billion, was provided to finance projects in other sectors.
In addition to financing the main components of projects, the Arab Fund’s loans also contributed to institutional support of the entities involved and training of their employees in order to enhance their efficiency. Table 2 shows the sectoral distribution of the loans extended by the Arab Fund during 2014 and over the period 1974 – 2014, while Annex
16 Annual Report 2014 4 provides a summary of that distribution among beneficiary member countries over the same period.
The cumulative lending activities of the Arab Fund also included 14 loans for private sector projects, for a total amount of KD 56.0 million, which contributed to 12 projects in Bahrain, Yemen, Mauritania, Sudan, Jordan and Egypt. These projects covered various areas, as they included the development of the productive sectors, especially iron and steel, sugar, grain silos and flour mills, glass and cement, as well as the tourism, health and financial sectors. In addition to the loans extended to the private sector, the Arab Fund also contributed to the equity capital of 7 private companies in 4 Arab countries, namely Saudi Arabia, Egypt, Yemen and Sudan, in the areas of glass container manufacturing, iron and steel production, cement production, sugar production, power generation, healthcare services and storage facilities. By the end of 2014, the Arab Fund’s total contributions to these companies had reached about KD 31.7 million, in addition to its contribution to the capital of the fund established by the International Finance Corporation (IFC) in an amount of KD 10 million.
Inter-Arab Projects
The Arab Fund maintained its support to joint Arab efforts to build a basic framework and to strengthen means of communication and interconnections between member countries. Since the start of its operations in 1974 and until the end of 2014, the Arab Fund extended 68 loans for a total amount of about KD 394.1 million. These loans contributed to the implementation of 32 inter-Arab projects in the areas of telecommunications, electric power, natural gas and international roads. Total disbursements of these loans have reached about KD 291.7 million at the end of 2014, or about 82.7% of their net amount. Annex 6 provides details on the loans extended by the Arab Fund to finance inter-Arab projects over the period 1974 – 2014.
Co-Financing Activities
The Arab Fund also continued its co-financing of projects in Arab countries with Arab national, regional and international development institutions. During 2014, two projects were co-financed with other institutions. These projects included the electrical interconnection between Egypt and Saudi Arabia, and a hospital in Yemen. During the period 1974 – 2014, the total contribution of the Arab Fund to projects co-financed with Arab national, regional and international development institutions has reached about KD 3.7 billion, representing about 31.2% of the total amount of co-financing ofabout KD 12.0 billion. Annex 8 provides details on co-financing activities over that period.
Disbursements and Repayments
Total disbursements during 2014 amounted to about KD 257.8 million, of which about KD 0.2 million were disbursed to finance private sector projects. Cumulative disbursements of all loans over the period 1974 – 2014 have amounted to about KD 5614.4 million, including KD 39.6 million for private sector projects. Repayments of loans in 2014 amounted to about KD 159.1 million, of which about KD 1.4 million were from the private sector. Cumulative repayments over the period 1974 – 2014 have amounted to about KD 2857.4 million, which represented about 50.9% of cumulative disbursements.
Annual Report 2014 17 Table 2 Loan Commitments by Sector (KD Million)
2014 1974 - 2014 Sector Amount % Amount %
1. Infrastructure Sectors
Transport and Telecommunications 40.00 9.7 2177.90 25.9
Energy and Electricity 130.00 31.5 2750.75 32.8
Water and Sewerage 30.00 7.3 867.25 10.3
Subtotal 200.00 48.5 5795.90 69.0
2. Productive Sectors
Industry and Mining 7.50 1.8 479.70 5.7
Agriculture and Rural Development 80.00 19.4 1226.80 14.6
Subtotal 87.50 21.2 1706.50 20.3
3. Social Services Sectors* 81.00 19.6 645.50 7.7
4. Other Sectors** 44.00 10.7 250.83 3.0
Grand Total 412.50 100.0 8398.73 100.0
* Include Education, Health, Housing and Social Development. ** Include Loan Commitments for Emergency Projects. Sectoral Distribution of Loan Commitments (Percentage)
During 2014 During the Period 1974 - 2014
Other Transport Social Other Energy & Sectors & Telecom. Services Transport Sectors Electricity 3.0% 9.7% 7.7% & Telecom. 10.7% 31.5% Agriculture 25.9% & Rural Dev. 14.6%
Industry Social & Mining Water & Services 5.7% Sewerage 19.6% 7.3% Water & Energy & Agriculture & Industry & Sewerage Electricity Rural Dev. Mining 10.3% 32.8% 19.4% 1.8%
18 Annual Report 2014 Second: Grants
Grants During 2014
The total amount of grants provided by the Arab Fund during 2014 reached about KD 13.1 million, and was used to execute 20 national grants and 11 inter-Arab grants, and to increase 2 national grants provided in 2013. The total amount of the national grants was about KD 10.8 million, and was provided to 12 Arab countries. The total amount of the inter-Arab grants was about KD 2.3 million, and was allocated to support activities of common interest to most Arab countries. Table 3 presents the national and inter-Arab grants approved during 2014.
The Arab Fund continued to give priority to activities that reinforce institutional support and training, with 22 grants allocated to these activities for a total amount of about KD 9.1 million, representing about 69.4% of total grants provided during the year. These grants included 18 national grants for a total amount of about KD 7.1 million, and 4 inter-Arab grants for a total amount of about KD 2.0 million. These grants aimed at enhancing the performance of specialized institutions, supporting the activities of research and education centers, as well as the activities of economic and social institutions. The grants also aimed at providing advanced medical equipment and supplies to support health services, preserving heritage, and improving food security in Arab countries.
The grants included strengthening the implementation of emergency programs, by increasing the amounts allocated to 2 grants provided in 2013 by about KD 3.2 million, or about 29.3% of the total amount of grants for 2014. These 2 grants contributed to the projects and programs for the urgent relief of Syrian refugees in Lebanon and Jordan. The grants provided during the year also contributed to the organization of a number of seminars and conferences on topics of common interest to most Arab countries, as well as the preparation of studies in some of those countries. Table 4 shows the grant commitments by activity.
Cumulative Grants
Since the beginning of its operations and until the end of 2014, the Arab Fund provided 1062 grants for a total amount of about KD 203.9 million. They included 560 national grants, amounting to about KD 143.1 million, which were allocated as follows: about KD 71.2 million for institutional support and training, about KD 16.8 million for feasibility studies and project preparation, about KD 5.6 million for general studies and research, and about KD 164 thousand for seminars and conferences. These grants aimed at improving the performance of specialized institutions, enhancing the quality of services they provide, training their employees and managers, developing their information systems and statistics, undertaking population censuses, supporting the activities of several research centers, and preserving national heritage. Furthermore, national grants included grants
Annual Report 2014 19 for a total amount of about KD 49.3 million, which were allocated to support emergency programs to alleviate the effects of natural disasters, local disturbances, or damage caused by external aggression in some Arab countries.
The grants provided over the same period also included 502 inter-Arab grants, amounting to about KD 60.8 million, which were allocated as follows: about KD 34.6 million to provide institutional support and training programs in several specialized scientific and research centers, about KD 13.1 million to undertake general studies and research in various economic and social development areas, about KD 6.4 million to conduct feasibility studies for specific projects, about KD 4.7 million to organize seminars and conferences to discuss priority development issues for Arab countries, in addition to about KD 2.0 million to implement emergency programs.
Grant Disbursements
Cumulative disbursements of grants approved over the period 1974 – 2014 amounted to about KD 155.0 million, which constitutes approximately 81.9% of the net amount of grants. Annex 7 provides a summary of the grants committed and disbursed over that period. During 2014, a total of 17 grants, amounting to about KD 6.5 million, were completed. This brought the total number of grants completed during the period 1974 – 2014 to 882, with a cumulative amount of about KD 135.8 million, while a total of 138 grants, amounting to about KD 59.8 million, remained under execution.
Support to the Palestinian People
The total amount of contributions made by the Arab Fund to Palestine, since the beginning of its operations and until the end of 2014, reached about KD 172.8 million, including about KD 155.8 million in the form of grants, and the remaining in the form of loans provided to the Palestinian National Authority.
The Urgent Program: The Arab Fund continued its efforts to support the Palestinian people and limit the deterioration of the economic and social conditions in the occupied territories. During 2014, the Arab Fund allocated an amount of about KD 3.4 million, or about 10.0% of the Arab Fund’s net income for 2013, to contribute to the twelfth phase of the Urgent Program to Support the Palestinian People, initially started in 2001. Thus, the total contribution of the Arab Fund to this program over the period 2001 – 2014 reached about KD 127.3 million. This program provided support to educational institutions, enabled thousands of students to attend university by covering tuition fees for many of them, allowed for training and qualification of graduates, and contributed to the rehabilitation of school buildings to meet educational needs. The program also provided support to social institutions and civil society entities to enable them to provide the best services in areas of social welfare, maternal care and child care, handicapped and those with special needs, and orphanages. Areas of the program’s intervention also included support to small and medium enterprises, housing for marginalized groups, rural development, reconstruction
20 Annual Report 2014 of historical buildings in old cities in Jerusalem, Nablus, and Hebron, and support to small farmers and craftsmen. The support also included provision of medical devices and equipment to hospitals and medical centers, contributions to the construction of health centers specializing in cardiology, ophthalmology, maternity and primary health care, in addition to the development of infrastructure such as water and electricity facilities, and delivery of potable water to deprived areas.
The Arab Fund provided support to Palestine through cooperation and coordination with civil society entities and some governmental institutions. This support contributed to the preservation of the various institutions and civil society entities, and enabled them to provide the best services to the Palestinian community. This program also reinforced the perseverance of the Palestinian residents and their presence in Palestine, and the preservation of their right to reside and live in the Holy City in the face of the expulsion campaigns, and contributed to the improvement of their living and environmental conditions by providing them with suitable housing, health, educational, cultural and social services.
Cooperation with International and National Financial Institutions: The Arab Fund continued its administration and follow up of grants provided by the OPEC Fund for International Development to Palestine. The total number of grants reached 356, amounting to about US Dollars 65.8 million. Disbursements of these grants amounted to about US Dollars 59.3 million, or about 90.1% of the total. The Arab Fund also maintained its cooperation with the Islamic Development Bank, which monitors the implementation of projects financed through Al-Aqsa Fund. This cooperation included support to rural development projects, economic empowerment, urgent reconstruction of historic buildings, construction of roads and schools, rehabilitation of water wells, reclamation of agricultural land, coverage of tuition and fees of university students, and support to non-governmental organizations that provide health, social and educational services. The total committed amount is estimated at about KD 29.3 million, including support to Jerusalem, and the disbursed amount reached about KD 22.0 million, or about 75.1%. Coordination between the Arab Fund and the Islamic Development Bank also included the selection of projects to be financed under the twelfth phase of the urgent program.
Annual Report 2014 21 Approval 22/12/2014 07/04/2014 07/04/2014 09/04/2014 09/04/2014 08/06/2014 08/06/2014 08/06/2014 08/06/2014 24/07/2014 22/12/2014 22/12/2014 22/12/2014 22/12/2014 05/03/2014 05/03/2014 05/03/2014 05/03/2014 05/03/2014 05/03/2014 31/03/2014 07/04/2014 Date of Board 1/2014 2/2014 4/2014 5/2014 11/2014 30/2014 14/2014 17/2013 18/2013 16/2014 17/2014 20/2014 22/2014 24/2014 26/2014 27/2014 28/2014 29/2014 10/2014 6-1/2014 6-2/2014 9-12/2014
No. of Grant
** The amount of grant no. 18/2013 was increased by KD 1579 thousand, to become KD 3 million. million. 3 KD become to thousand, 1579 KD by increased was 18/2013 no. grant of amount The ** * The amount of grant no. 17/2013 was increased by KD 1579 thousand, to become KD 3 million. 3 KD become to thousand, 1579 KD by increased was 17/2013 no. grant of amount The * 50 50 30 900 250 300 300 100 400 130 250 250 200 300 100 100 100 300 500
1579 1579 3000
10768
(KD 000) Programs Emergency (5)
Research and Studies General (3) (4) Seminars and Conferences and Seminars (4)
Preparation Project and Studies Feasibility (1) (2) Institutional Support and Training Allocated Amount and Support Institutional (2)
10768 (2) Subtotal (2) (2)
(2) (2)
(2)
(2)
22/12/2014 30/2014 900 Somalia/ Contribution to the Somalia Trust Fund for Capacity Development in Macroeconomic Policies and Statistics Statistics and Policies Macroeconomic in Development Capacity for Fund Trust Somalia the to Contribution Somalia/ 20
(2)
22/12/2014 29/2014 250 Lebanon/ Completion of the Construction of a Second Building for the Al Islah Islamic High School in Lebanon Lebanon in School High Islamic Islah Al the for Building Second a of Construction the of Completion Lebanon/
(2) 19 (2) (5)
22/12/2014 28/2014 250
Bahrain/ Contribution to the Financing of the Project on the Development of Neighborhoods in Muharraq Muharraq in Neighborhoods of Development the on Project the of Financing the to Contribution Bahrain/ 18
(2) (5) (2)
(3) and Banking Supervision Banking and
(2) 22/12/2014 27/2014 130 17 Algeria/ Contribution to the Financing of the Project to Support the Capabilities of Management of Public Banks Banks Public of Management of Capabilities the Support to Project the of Financing the to Contribution Algeria/
(2)
22/12/2014 26/2014 3000 Comoros/ Hydroelectric Generating Units Units Generating Hydroelectric Comoros/ 16
(2)
Islamiya – “Ashghalouna” – Islamiya
(2) 24/07/2014 24/2014 50 15
Lebanon/ Support to the Activities of the Friends Committee of the Social Welfare Institution – Dar Al Aytam Al Al Aytam Al Dar – Institution Welfare Social the of Committee Friends the of Activities the to Support Training (2) Institutional Support and (4) Seminars and Conferences Lebanon/
08/06/2014 22/2014 400 (2) 14 Yemen/ Contribution to the Financing of the Establishment of a Training Center for Alrahma Foundation for Human Development Development Human for Foundation Alrahma for Center Training a of Establishment the of Financing the to Contribution Yemen/
(2)
(1)
08/06/2014 20/2014 100 13 Lebanon/ Contribution to the Financing of a Water Treatment Project at Dar Al-Ajaza Al Islamia Hospital in Beirut Beirut in Hospital Islamia Al Al-Ajaza Dar at Project Treatment Water a of Financing the to Contribution Lebanon/ (2)
(2)
08/06/2014 17/2014 300 12 Lebanon/ Contribution to the Project on the “Design and Development of the Electronic Content in Science and Mathematics” Mathematics” and Science in Content Electronic the of Development and “Design the on Project the to Contribution Lebanon/
(2)
08/06/2014 16/2014 300 11 Tunisia/ Contribution to the Financing of a Study on the Restructuring of the Public Banking Sector Sector Banking Public the of Restructuring the on Study a of Financing the to Contribution Tunisia/
(3)
* * * 09/04/2014 18/2013 1579 Jordan/ Contribution to the Projects and Programs for the Urgent Relief of Syrian Refugees in Jordan Jordan in Refugees Syrian of Relief Urgent the for Programs and Projects the to Contribution Jordan/
(5)
* 09/04/2014 17/2013 1579 Lebanon/ Contribution to the Projects and Programs for the Urgent Relief of Syrian Refugees in Lebanon Lebanon in Refugees Syrian of Relief Urgent the for Programs and Projects the to Contribution Lebanon/ (5)
Grants Approved During 2014 Approved Grants 07/04/2014 14/2014 250 10 Sudan/ Contribution to the Financing of the “Saving Sight in North Kordofan Governorate” Program Program Governorate” Kordofan North in Sight “Saving the of Financing the to Contribution Sudan/
(2)
07/04/2014 11/2014 500 9 Yemen/ Contribution to the Financing of the Fourth Phase of the Program to Restore and Rehabilitate the Grand Mosque in Old Sana’a Sana’a Old in Mosque Grand the Rehabilitate and Restore to Program the of Phase Fourth the of Financing the to Contribution Yemen/
(2)
Cairo’s Fatamid Neighborhoods Neighborhoods Fatamid Cairo’s
(2) 07/04/2014 10/2014 300 8 Egypt/ Contribution to the Financing of the Second Phase of the Project for the Development and Enhancement of of Enhancement and Development the for Project the of Phase Second the of Financing the to Contribution Egypt/
Beneficiary/Grant
9-12/2014 100 31/03/2014 7 (2) (2) Institutions and Services Public Main the to Support Institutional Comoros/ (2)
(2)
Children in Rahma Medical Center in Tripoli Tripoli in Center Medical Rahma in Children
(2)
6-2/2014 100 05/03/2014 6
Lebanon/ Completion of the Construction and Furnishing of a Rehabilitation Institute for Orphans and Disabled Disabled and Orphans for Institute Rehabilitation a of Furnishing and Construction the of Completion Lebanon/
Children in Rahma Medical Center in Tripoli Tripoli in Center Medical Rahma in Children
(2) 6-1/2014 100 05/03/2014
5
Lebanon/ Completion of the Construction and Furnishing of a Rehabilitation Institute for Orphans and Disabled Disabled and Orphans for Institute (2) Rehabilitation a of Furnishing and Construction the of Completion Lebanon/
300 05/03/2014 5/2014 4
Lebanon/ Support to the Children’s Cancer Center of Lebanon to Cover the Cost of Surgery for Children 2014 - 2016 2016 - 2014 Children for Surgery of Cost the Cover to Lebanon of Center Cancer Children’s the to Support Lebanon/
(2)
(2)
05/03/2014 4/2014 30 3 Palestine/ Support to the Information Center of the Institute for Palestinian Studies Studies Palestinian for Institute the of Center Information (2) the to Support Palestine/
(2)
05/03/2014 2/2014 50 2 Egypt/ Contribution to Support the Activities of the “Friends of Ahmed Bahaa El Din” Society Society Din” El Bahaa Ahmed of “Friends the of Activities the Support to Contribution Egypt/
(2)
200 05/03/2014 1/2014 1 Mauritania/ Contribution to the Update of the Sewerage Studies for Nouakchott Nouakchott for Studies Sewerage the of Update the to Contribution Mauritania/
(1)
A: National Grants National A:
(KD 000) (KD
No. Beneficiary/Grant No. of Grant of No. Board of Date Approval
Amount Allocated Amount
Subtotal 3 Table Comoros/ Hydroelectric Generating Units to Support the Capabilities of Management of Public Banks Algeria/ Contribution to the Financing of the Project and Banking Supervision Project on the Development of Neighborhoods in Muharraq Bahrain/ Contribution to the Financing of the Al Islah Islamic High School in Lebanon Second Building for the Lebanon/ Completion of the Construction of a and Statistics Fund for Capacity Development in Macroeconomic Policies Trust Somalia/ Contribution to the Somalia Tunisia/ Contribution to the Financing of a Study on the Restructuring of the Public Banking Sector Contribution to the Financing of a Study on the Restructuring Tunisia/ and Development of the Electronic Content in Science and Mathematics” Lebanon/ Contribution to the Project on the “Design Al Islamia Hospital in Beirut Al-Ajaza Project at Dar Treatment Water Lebanon/ Contribution to the Financing of a Alrahma Foundation for Human Development Center for Training of a Contribution to the Financing of the Establishment Yemen/ Al Aytam Al Institution – Dar Welfare Committee of the Social Activities of the Friends Lebanon/ Support to the Islamiya – “Ashghalouna” Comoros/ Institutional Support to the Main Public Services and Institutions Support to the Main Public Services and Institutions Comoros/ Institutional Phase of the Project for the Development and Enhancement of Egypt/ Contribution to the Financing of the Second Fatamid Neighborhoods Cairo’s Phase of the Program to Restore and Rehabilitate the Grand Mosque in Old Sana’a Contribution to the Financing of the Fourth Yemen/ Sight in North Kordofan Governorate” Program Sudan/ Contribution to the Financing of the “Saving of Syrian Refugees in Lebanon Relief for the Urgent Lebanon/ Contribution to the Projects and Programs of Syrian Refugees in Jordan Relief for the Urgent Jordan/ Contribution to the Projects and Programs Palestine/ Support to the Information Center of the Institute for Palestinian Studies Information Center of the Institute for Palestinian Palestine/ Support to the - 2016 for Children 2014 Cost of Surgery Cancer Center of Lebanon to Cover the Children’s Lebanon/ Support to the Institute for Orphans and Disabled the Construction and Furnishing of a Rehabilitation Lebanon/ Completion of Tripoli Center in Children in Rahma Medical Institute for Orphans and Disabled the Construction and Furnishing of a Rehabilitation Lebanon/ Completion of Tripoli Center in Children in Rahma Medical Mauritania/ Contribution to the Update of the Sewerage Studies for Nouakchott to the Update of the Sewerage Studies for Nouakchott Mauritania/ Contribution Bahaa El Din” Society Ahmed Activities of the “Friends of Support the Egypt/ Contribution to Annual Report 2014 Report Annual Grants Approved During 2014 During Approved Grants 2 3 4 5 6 7 8 9 1 * 10 11 12 13 14 15 16 17 18 19 20 * * No. 22 A: National Grants Table 3 Table (3) General Studies and Research (3) General Studies and Research (5) Emergency Programs The amount of grant no. 17/2013 was increased by KD 1579 thousand, to become KD 3 million. * to become KD 3 million. The amount of grant no. 18/2013 was increased by KD 1579 thousand, ** (1) Feasibility Studies and Project Preparation (1) Feasibility Studies and Project Preparation
22 Annual Report 2014 23 Approval 15/10/2014 08/06/2014 08/06/2014 08/06/2014 05/03/2014 05/03/2014 05/03/2014 07/04/2014 07/04/2014 07/04/2014 08/06/2014
Annual Report 2014 Report Annual Date of Board
(5) Emergency Programs Programs Emergency (5)
Research and Studies General (3) (4) Seminars and Conferences and Seminars (4)
Preparation Project and Studies Feasibility (1) (2) Institutional Support and Training and Support Institutional (2)
13078 Total
3/2014 7/2014 8/2014
19/2014 21/2014 23/2014 12/2014 13/2014 15/2014 18/2014
2310 DG/25-2014 No. of Grant Subtotal
11 Inter-Arab/ Printing of Documents and Publications of the Eleventh Gulf Conference on Water Water on Conference Gulf Eleventh the of Publications and Documents of Printing Inter-Arab/ 15/10/2014 DG/25-2014 20
(4)
in Arab Countries Countries Arab in
(2) 10 08/06/2014 23/2014 600
ICARDA/ Contribution to the Financing of the Second Phase of the Project on the Enhancement of Food Security Security Food of Enhancement the on Project the of Phase Second the of Financing the to Contribution ICARDA/
9 08/06/2014 21/2014 30
Arab Forum for Environment and Development/ Contribution to the Financing of the Seventh Annual Conference Conference Annual Seventh the of Financing the to 30 30 Contribution 20 Development/ and Environment for Forum Arab 50 20 (4) 600 100 100 100 260
1000
2310 13078
(KD 000) Hadramout of University the at Development
(4) 8 08/06/2014 19/2014 30 Inter-Arab/ Contribution to the Financing of the First Arab Conference on Higher Education and Integrated Integrated and Education Higher on Conference Arab First the of Financing the to Contribution Inter-Arab/
Amount Allocated Amount
7 Gulf Research Center/ Contribution to the Financing of the Fifth Gulf Research Forum Research Gulf Fifth the of Financing the to Contribution Center/ Research Gulf 08/06/2014 18/2014 20 (4)
(4)
(4)
2014 - 2015 2015 - 2014
(2)
6 07/04/2014 15/2014 260
ERF/ Contribution to the Financing of the Activities of the Arab Spring Initiative for Development during the Period Period the during Development for Initiative Spring Arab the of Activities the of Financing the to Contribution ERF/
Arab World with the View of Enhancing Employability of Outcomes” of Employability Enhancing of View the with World Arab
(4) 5 07/04/2014 13/2014 50
(2) Inter-Arab (Arab Fund)/ Contribution to the Financing of a Symposium on “Reforming the Education System in the the in System Education the “Reforming on Symposium a of Financing the to Contribution Fund)/ (Arab Inter-Arab
4 Arab Planning Institute/ Contribution to the Institute’s Programs and Activities for the Year 2013/2014 Year the for Activities and Programs Institute’s the to Contribution Institute/ Planning Arab 07/04/2014 12/2014 100
(2)
(4)
Morocco and Tunisia Tunisia and Morocco
(2) 3 05/03/2014 8/2014 1000 ICARDA/ Contribution to Support the Development of ICARDA’s Regional Offices in Jordan, Lebanon, Egypt, Egypt, Lebanon, Jordan, in Offices Regional ICARDA’s of Development the Support to Contribution ICARDA/
(4)
2 ERF/ Supporting ERF’s Twentieth Annual Meeting Meeting Annual Twentieth ERF’s Supporting ERF/ 05/03/2014 7/2014 100 Training (2) Institutional Support and (4) Seminars and Conferences
(4)
1 05/03/2014 3/2014 100 Inter-Arab (OAPEC)/ Coverage of Half the Expenses of the 10 the of Expenses the Half of Coverage (OAPEC)/ Inter-Arab Arab Energy Conference to be held in Abu Dhabi Dhabi Abu in held be to Conference Energy Arab
(4) th B: Inter-Arab Grants Inter-Arab B:
(4)
(KD 000) (KD
No. Beneficiary/Grant Approval Board of Date Grant of No. Amount Allocated Amount Abu Dhabi Conference to be held in Arab Energy
th
Grants Approved During 2014 Approved Grants Table 3 (continued) 3 Table Grants Approved During 2014 During Approved Grants (4) Beneficiary/Grant (4) (2) (2) (2) ICARDA/ Contribution to the Financing of the Second Phase of the Project on the Enhancement of Food Security Arab Countries in Water Conference on Printing of Documents and Publications of the Eleventh Gulf Inter-Arab/ ERF/ Contribution to the Financing of the Activities of the Arab Spring Initiative for Development during the Period the during Development for Initiative Spring Arab the of Activities the of Financing the to Contribution ERF/ 2014 - 2015 of the Fifth Gulf Research Forum Gulf Research Center/ Contribution to the Financing Inter-Arab/ Contribution to the Financing of Development at the University of Hadramout the First Arab Conference on Higher Education and Annual Conference Contribution to the Financing of the Seventh Arab Forum for Environment and Development/ Integrated ICARDA/ Contribution to Support the Development of Regional ICARDA’s Offices in Jordan, Lebanon, Egypt, Tunisia Morocco and 2013/2014 Year Activities for the and Programs Contribution to the Institute’s Arab Planning Institute/ the in System Education the “Reforming on Symposium a of Financing the to Contribution Fund)/ (Arab Inter-Arab Employability of Outcomes” of Enhancing View with the World Arab Total Inter-Arab (OAPEC)/ Coverage of Half the Expenses of the 10 (OAPEC)/ Coverage of Half the Expenses Inter-Arab Annual Meeting Twentieth ERF/ Supporting ERF’s Subtotal 6 7 8 9 3 4 5 1 2 10 11 No. B: Inter-Arab Grants B: Inter-Arab Table 3 (continued) Table (1) Feasibility Studies and Project Preparation (1) Feasibility Studies and Project Preparation (3) General Studies and Research (5) Emergency Programs
Annual Report 2014 23 9.1 2.4 % 11.4 51.9 25.2 100.0 Total 4923 23200 18671 51319 105790 Amount 203903 7.8 3.3 % 10.5 56.9 21.5 100.0 6380 4759 2000 34605 13071 60815 Amount Inter-Arab Grants Inter-Arab During the Period 1974 - 2014 During the Period 1974 3.9 0.1 % 11.8 49.7 34.5 100.0 164 5600 16820 71185 49319 National Grants Amount 143088 1.5 2.3 2.7 % 69.4 24.1 100.0
Total
Does not include an amount of about KD 127.3 million allocated by the Board of Governors of the Arab Fund to support the Palestinian people, over the period 2001 - 2014. - 2001 period the over people, Palestinian the support to Fund Arab the of Governors of Board the by allocated million 127.3 KD about of amount an include not Does 200 * 300 350 9070 3158
13078 Amount
Total* 100.0 203903 100.0 60815 100.0 143088 100.0 13078 100.0 2310 100.0 10768
(KD 000) Emergency Programs Emergency 5 5 25.2 51319 3.3 2000 34.5 49319 24.1 3158 29.3 3158 % 84.8 15.2
100.0 Seminars and Conferences and Seminars 4 2.4 4923 7.8 4759 0.1 164 2.7 350 15.2 350
Research
3 9.1 18671 21.5 13071 3.9 5600 2.3 300 2.8 300
During 2014 and Studies General 350 1960
2310
Amount Inter-Arab Grants Inter-Arab
Training
2 51.9 105790 56.9 34605 49.7 71185 69.4 9070 84.8 1960 66.0 7110
and Support Institutional Grant Commitments by Activity Grant Commitments
1.9 2.8
%
66.0 29.3
Project Preparation Project
1 11.4 23200 10.5 6380 11.8 16820 1.5 200 1.9 200 100.0
and Studies Feasibility
200 300
7110 3158
% Amount % Amount % Amount % Amount % Amount % National Grants Amount
10768 Amount
Activity
National Grants National Inter-Arab Grants Inter-Arab National Grants National Total Inter-Arab Grants Inter-Arab Total
During 2014 During During the Period 1974 - 2014 - 1974 Period the During
Table 4 Table
(KD 000) (KD Grant Commitments by Activity by Commitments Grant Activity Project Preparation Feasibility Studies and Institutional Support and Training General Studies and Research Seminars and Conferences Emergency Programs Emergency Annual Report 2014 Report Annual 1 2 3 4 5 Total* Does not include an amount of about KD 127.3 million allocated by the Board of Governors of the Arab Fund to support the Palestinian people, over the period 2001 - 2014. Arab Fund to support the Palestinian 127.3 million allocated by the Board of Governors of the Does not include an amount of about KD 24 *
Table 4 Table
24 Annual Report 2014 Grant Commitments by Activity (Percentage)
National Grants during 2014 Inter-Arab Grants during 2014
Feasibility Emergency Studies & Seminars Programs Project Prep. & Conf. 29.3% Inst. Support 1.9% 15.2% & Training 66.0%
General Studies Inst. Support & Research & Training 2.8% 84.8%
National Grants during the Period 1974 - 2014 Inter-Arab Grants during the Period 1974 - 2014
Feasibility Emergency Feasibility Studies Studies & Programs & Project Prep. Emergency Project Prep. 34.5% 11.8% Programs Inst. Support Inst. Support 3.3% 10.5% & Training & Training 49.7% 56.9% Seminars & Conf. 7.8%
General Studies & Research Seminars 21.5% & Conf. General Studies 0.1% & Research 3.9%
Annual Report 2014 25 The Arab Fund’s Graduate Program for Palestinian Students
In 2012 the Arab Fund established, in cooperation with the British Council in Jerusalem, the Graduate Program for Palestinian Students at British Universities, with the aim to develop their educational and academic abilities. This program is considered to be the largest of its kind for Palestinians in the United Kingdom. It provides grants to Palestinian students who excel in their fields of specialization, to study at prestigious British universities to obtain their masters or doctorate degrees, and then work at Palestinian universities in the areas of research and teaching, to transfer the acquired knowledge, teaching methods and research they gain to those universities.
This program contributes to the training and qualification of the academicians who work at Palestinian universities, with the aim to raise the academic competencies and maintain international standards at Palestinian universities, and reinforce their educational capabilities, as well as strengthen the links between British and Palestinian universities. To date, the program has provided 51 grants to Palestinian students from 16 Palestinian universities, to study at 18 prestigious British universities for the masters or doctorate degrees in their fields of specialization. The graduate program includes business administration, economics and finance, educational management, political science, international studies, governance, agriculture, engineering, law, environmental studies, nursing, information technology, clean energy and energy management.
The program is being implemented under the management and supervision of the British Council, which provides grants to study at the British universities, while the Arab Fund covers all the students’ expenses, including travel and housing expenses, in the United Kingdom.
The program has resulted in additional advantages, by allowing the students to benefit from the British educational and academic experiences. It also provided some of the students with the opportunity to work with scientists who are distinguished in their field of specialization, as well as the opportunity to work at some of the best scientific research laboratories in many fields. The program also contributed to the strengthening of ties between British and Palestinian universities. It is expected that this program will be implemented yearly, in order to meet the continued demand to raise competencies.
26 Annual Report 2014 Third: Other Activities
1. Coordination between the Arab National and Regional Development Institutions
The Arab Fund continued to act as the Coordination Secretariat of the Coordination Group, which includes the Arab national and regional development institutions, and preparing their periodic meetings and the meetings of the technical committees. The thirteenth meeting of the Heads of these institutions took place on January 19, 2014, at the Arab Fund headquarters in Kuwait. During that meeting, the heads of the institutions discussed topics relating to the intensification of support to Arab countries going through a transition period and expanding the support to include all Arab countries, by combining bilateral initiatives and co-financing on the one hand, and the development of joint operations between the Group’s institutions and the Development Assistance Committee of the Organisation for Economic Co-operation and Development (OECD/DAC) on the other hand. The Heads of institutions meeting was followed by a High Level meeting between the Coordination Group and DAC on January 20, 2014, at the Arab Fund headquarters. During that meeting, the participants discussed topics related to the promotion and development of their joint efforts to support development in the world, and particularly in Arab countries.
The Arab Fund, along with representatives of the Coordination Group institutions, participated in the First High-Level Meeting of the Global Partnership for Effective Development Co-operation, which was held in Mexico City, Mexico, during the period 15 – 16/4/2014. The meeting was attended by about 1500 delegates representing more than 130 countries, along with representatives from international and regional financial institutions, parliaments, the private sector, unions and civil society organizations.
During the year, the seventy third and seventy fourth Coordination Group meetings took place, with the participation of several international institutions, including the World Bank, the International Finance Corporation, the German Institution for International Cooperation (GIZ), the Arab Authority for Agricultural Investment and Development, and the OECD. The meetings aimed at studying and discussing ways and means to strengthen and expand cooperation, to include existing projects in the beneficiary countries, especially projects in the sectors of infrastructure, agriculture, rural development, energy, education and health.
The Arab Fund also participated in the eighth meeting to strengthen cooperation between trade finance and guarantee institutions, that took place at the Saudi Fund for Development headquarters in Riyadh, Saudi Arabia, during the period 10 – 11/9/2014. This meeting brought together the Coordination Group member institutions that specialize in trade finance programs and export credit. The focus of the meeting was on the importance of expanding credit and conducting certain operations in the African markets, in order to increase the level of Arab exports to African countries. An agreement was reached to prepare a final report on the initiative of an Arab Africa Trade Bridge Program, to enhance commercial trade between Arab and African countries.
Annual Report 2014 27 2. Management of Special Account
By the end of the year, a total of 18 Arab countries had contributed to the Special Account, in addition to the Arab Fund, with total pledged contributions reaching US Dollars 1310.0 million, of which US Dollars 1262.5 million were paid.
Special Account projects were studied during the year in eight Arab countries, through evaluation of the needs of small and medium enterprises, and determination of financial intermediaries eligible to borrow from the Special Account to finance these projects. In addition, visits were made to several institutions, both governmental and non-governmental, that work towards the development of small and medium enterprises, in order to inquire about their activities and their needs.
Seven loans were approved during the year by the Special Account’s management committee, for a total amount of US Dollars 260.0 million. These loans were provided to governments and intermediary financial institutions in Palestine, Djibouti, Bahrain, Oman, Tunisia and Egypt. Table 5 shows the loan commitments by the Special Account during 2014. This brings the total number of loans approved by the management committee to 23, for a total amount of US Dollars 748.0 million.
Table 5 Loan Commitments Approved by the Special Account’s Management Committee During 2014
Amount of Loan Date of No. Country Institution (Million Approval US Dollars)
1 Palestine Palestine Investment Fund 30 06/03/2014
Economic Development Fund of Djibouti 2 Republic of Djibouti 20 06/03/2014 (Second Loan)
Bahrain Development Bank 3 Kingdom of Bahrain 50 22/06/2014 (Second Loan)
4 Sultanate of Oman Government of Oman 50 22/06/2014
5 Republic of Tunisia Government of Tunisia 50 22/06/2014
6 Arab Republic of Egypt National Bank of Egypt 50 25/12/2014
Palestine for Credit and Development 7 Palestine 10 25/12/2014 (Second Loan)
Total 260
In order to expand the scope of its activities and increase the effectiveness of its interventions to support the development of small and medium enterprises in Arab countries to provide employment opportunities and contribute to the reduction of poverty, the Special Account has expanded its cooperation with entities that have experience in institutional and legislative support to small and medium enterprises.
28 Annual Report 2014 3. Study of Sudan Project to Achieve Food Security for the Arab World
The Arab Fund allocated a grant to conduct a study aimed at achieving food security for the Arab countries through the Sudan project. The study comprises the four following tasks: Task I involves the estimation of the food gap in the Arab countries, for five major crops, up to the year 2030. Task II involves assessing the capabilities and resources available in Sudan that could help reduce this food gap. Task III involves the construction of a mathematical model to determine the best utilization of water, land and labor resources, available in Sudan, for producing products that could be exported to the Arab countries, at competitive prices. Task IV involves the development of a sectoral plan, based on the projects identified in Task III of thestudy.
Task I of the study was completed in mid-2014. It identified the food gap in wheat, sugar, oils, meat and dairy in the Arab countries throughout the period 2013 – 2030. Task II of the study was completed at the end of the third quarter of the same year. It identified the crops to be grown in Sudan, and exported to the Arab countries, at competitive prices, to reduce part of the food gap. It is expected that the entire study will be completed by the end of the first quarter of 2015.
4. Study of Pan-Arab Interconnection and Utilization of Natural Gas
The cost of generating electricity varies significantly from one Arab country to the other, mainly due to the availability of abundant quantities of natural gas in some countries, and lack thereof in others, thus creating good opportunities for energy trade. To capitalize on this situation and make better use of the electrical interconnections that have been constructed, and in an effort to develop an integrated master plan for upgrading the generation and transmission systems in the Arab countries, the Arab Fund allocated a grant to finance a study to determine the optimum plan for everyArab country, and for all Arab countries combined, to attain the best tradeoff between exporting natural gas and exporting electricity.
The draft final report of the study was completed in the fourth quarter of 2013. Its main result included the development of an integrated strategy for the expansion of the electrical interconnections and gas pipelines between the Arab countries for the period 2012 – 2030, in order to attain the lowest total cost of generation during that period. The study recommended that the Arab countries implement seven new electrical interconnection projects, two gas pipelines and an LNG reception terminal.
The report estimated that the implementation of the recommended projects would lead to the reduction of the total cost of generation for the Arab countries, during the period 2012 – 2030, by around US Dollars 127 billion, of which US Dollars 7 billion as savings in capital costs and US Dollars 120 billion as savings in operating costs.
In addition to recommending future electricity and gas projects, the consultant constructed an integrated mathematical model to determine the most appropriate price for energy exchange between the Arab countries, in order to provide equitable compensation for the countries that will suffer losses due to energy flowing in their networks as a result of energy being exchanged between their neighboring countries.
Annual Report 2014 29 A meeting was held at the Arab Fund headquarters, in January 2014, to present the outcome of the study. During the meeting, which was attended by representatives of the countries that participated in the study, the consultant presented the results and recommendations of the study and received comments on the draft final report. The consultant issued the final report of the study in April 2014, which took into consideration all comments received. A copy of this report was sent to each participating country.
5. Arab Spring Development Initiative (ASDI)
ASDI aims at contributing to the ongoing political and economic transformation in the Arab region, with a view to promote shared prosperity in a context of good governance and enhanced access to knowledge and data, towards meeting the challenges of transition. ASDI builds on a successful partnership that was formed during the period 2009 – 2013 between the World Bank and the Arab Fund for a “Research Initiative for Arab Development” (RIAD), which was agreed on the ground of matching contributions and carried out by the Economic Research Forum (ERF). Likewise, ASDI is being implemented by ERF in partnership with both the World Bank and the Arab Fund. The ERF governance structure will oversee the implementation of the Initiative. In addition, a Scientific Committee (SC) and a Donors’ Committee (DC) were set up to follow up the implementation of the Initiative.
ASDI will focus on three main areas of activity: 1. Open Access Data: This new platform parallels the successful World Bank initiative on making data available to researchers and policymakers alike. The main distinction between the two initiatives is that ERF will focus on the Arab countries, where micro data are generally not available or inaccessible. This is a large undertaking that responds directly to the Arab Spring demand for more transparency and accountability. 2. Knowledge Creation: The emphasis in this area will be on four themes that are of critical importance to the region at this juncture in its development, namely: (i) The Economics and Politics of Arab Awakening, (ii) Inequality, (iii) Employment, and (iv) Natural Resources and Economic Diversification. Work in these areas is aimed at bridging the knowledge gap in the countries of the region to identify policy choices and improve policy design. 3. Policy Dialogue: Systematic effort will be made to create a variety of platforms for policy discussions, by varying topics and stakeholders including researchers and policy makers as well as tools and formats to maximize impact. In particular, channels of communication using new social media and internet tools will be adopted.
6. Arab Development Portal
Recognizing the importance of having accurate and timely information for making informed decisions, the heads of the national and regional institutions that constitute the Coordination Group (CG) agreed to jointly finance an ambitious program to develop the Arab Development Portal (ADP).
30 Annual Report 2014 ADP is a knowledge platform and community of practice, which supports knowledge flows and collaboration through real time partnerships, learning opportunities and sharing of best practices, document and data retrieval and manipulation, blogs, discussion spaces, user memberships and on-line community development.
Due to the size of the undertaking, the CG members decided to implement the project in three phases. Phase I was limited to 5 economic themes in two Arab countries, and was to serve as a pilot project, with the aim of achieving proof of concept and receipt of feedback from the users on the usefulness of the portal and how the design/interface could be improved. In Phase II, the number of countries was increased to include all Arab countries, and the database was expanded by an additional 4 economic themes. In this phase, the United Nations Development Program (UNDP) is expected to recommend the final design of the portal, and estimate the cost of operating and maintaining it upon its completion, prior to having one of the CG members host the portal and continue to update and expand its content.
It is worth noting that the OPEC Fund for International Development (OFID), on behalf of the CG members, signed contracts, totaling around US Dollars 2 Million, with UNDP and the World Bank for the development of Phases I and II. The development of Phase I was completed in March 2014, and it is expected that the development of Phase II will be completed by mid-2015. Once all three phases are finished, it is envisioned that ADP will serve as a reference point for all economic, labor, regulatory, educational, health and infrastructure information in the Arab world.
7. Enhancing Food Security in Arab Countries
The Arab Fund contributed to the project on Enhancing Food Security in Arab Countries, in cooperation and coordination with the International Center for Agricultural Research in Dry Areas (ICARDA) and a number of Arab financial institutions. This project aims at developing the capabilities of national agricultural research centers and farmers in 10 Arab countries, namely Egypt, Sudan, Morocco, Tunisia, Jordan, Yemen, Syria, Palestine, Iraq and Algeria, to adopt and use modern technologies to achieve a sustainable increase in grain production, including the development of methodologies and ways to transfer technology and disseminate it among farmers on a wide scale. The project also aims at establishing effective partnerships between national and international agricultural research centers in grain and wheat, in order to develop modern irrigation systems for the production of grain, integrated management of production and prevention, transfer these technologies to farmers, and improve the technology packages to suit the local environment and agricultural systems in Arab countries. This project falls within the framework of the priorities set forth by the Arab Economic and Developmental and Social Summit, held in Kuwait in 2009, which emphasized the necessity to enhance Arab food security as it is considered one of the pillars of Arab national security.
With the aim of increasing cooperation between national agricultural research centers in Arab countries and ICARDA, and attracting the required financing to expand the activities of the project, in order to continue to implement the technologies and research, and widen circulation and publication of its results among the targeted segments to achieve
Annual Report 2014 31 tangible increases in agricultural production, specifically wheat, the Arab Fund hosted at its headquarters during the period 11 – 12 November, 2014, a joint ministerial meeting for Arab countries and ICARDA on food security in Arab countries. The meeting was attended by Arab agriculture ministers and Arab national and regional financial institutions. At the conclusion of the meeting, a declaration was issued confirming the Arab countries’ continued interest and support to execute the future phases of the project, expand the implementation of its outcomes to other areas in every Arab country within its strategy to enhance food security, establish an information network to exchange experience and knowledge on ways to enhance food security, and invite Arab financial institutions to contribute to this project.
8. Third Arab Development Symposium: “Reforming the Education System in the Arab World with the View of Enhancing Employability of Outcomes”
The Symposium was the third in the series of Arab Development Symposia co- organized by the Arab Fund and the World Bank for the purpose of addressing pressing developmental issues in Arab countries. The Symposium was held on November 5, 2014, at the Arab Fund headquarters, and aimed at providing an overview of the status of the employability of the educational sector graduates in Arab countries. More specifically, the Symposium identified the main constraints hindering the improvement of the employability of educational outcomes, and underlined both general public policies and reforms capable of overcoming these constraints and improving quality and governance within educational institutions.
The Symposium focused on four areas: i) determining whether the Arab education systems serve as barriers or enhancers of employability; ii) improving the links between education and the labor market by looking at the role of public policy at the macroeconomic level; iii) strengthening the role of governance and accountability in improving the quality of education and employability at the microeconomic level, and iv) overviewing international, regional and national experiences and delineating best practices.
The Symposium was attended by a selected group of international experts, officials from international and regional organizations, and specialists and decision makers from within and outside the Arab region.
9. Tenth Arab Energy Conference
The Arab Fund, in cooperation with the Organization of Arab Petroleum Exporting Countries (OAPEC), organized and shared the expenses of the Tenth Arab Energy Conference, which was held in Abu Dhabi, U.A.E., during the period 21 – 23 December 2014.
The Conference addressed various energy issues in the Arab world, including the latest drilling and refining technologies, the future prospects of the energy sector and the main challenges facing it, the future of renewable energy in the Arab world, techniques for energy conservation in power plants and industry, along with the various means of cooperation between Arab countries in the areas of electricity and natural gas.
32 Annual Report 2014 The Arab Fund prepared and presented to the Conference a paper summarizing the results of the recent study that it financedand supervised, which aimed at determining the feasibility of Pan Arab electrical interconnection and the utilization of natural gas for the export of electricity. The presentation covered the objectives of the study, its components, and its main results and recommendations.
10. Preparation of the Joint Arab Economic Report
The Arab Fund annually participates in the preparation of the Joint Arab Economic Report, in cooperation with the General Secretariat of the League of Arab States, the Arab Monetary Fund and the Organization of the Arab Petroleum Exporting Countries. The Arab Fund contributes to the report with the chapters on economic and social development, the agriculture and water sector, the industrial sector, and Arab developmental aid. The Arab Fund also prepares, on a rotating basis with the Arab Monetary Fund, the chapter that addresses the theme of the report. The theme of this year’s report was “Reforming the Energy Support System in Arab Countries”.
11. Various Activities
The Arab Fund continued to monitor the activities of the Arab Trade Financing Program in coordination with the Arab Monetary Fund, and through its membership on the Board of Directors of the Program. It also continued its cooperation with specialized Arab and international organizations in order to help improve the efficiency of their interventions in Arab countries.
Annual Report 2014 33 Fourth: Financial Statements for the Financial Year Ended 31 December 2014
I. Financial Position Assets: The value of Arab Fund Assets increased in 2014 by KD 234 million (8%) compared to 2013 reaching KD 3,207 million, this increase was mainly in Loans as shown in the below schedule:
2014 2013 Variation Assets KD KD KD % % Million Million Million
Cash & Cash Equivalents 31 1% 41 1% )10(
Investments 391 12% 335 11% 56
Loans 2,757 86% 2,562 87% 195
Others Assets 28 1% 35 1% )7(
Total 3,207 100% 2,973 100% 234
8%
Liabilities: The value of Liabilities increased in 2014 by KD 6.9 million (5%) compared to 2013 reaching KD 155 million, this increase was mainly in Special Account for Financing Small and Medium Enterprises as shown in the below schedule:
2014 2013 Variation Liabilities KD KD KD % % Million Million Million Special Account for Financing Small and Medium Enterprises 79.4 51% 69.6 47% 9.8
Grants 34.3 22% 30.9 21% 3.4
Provision for Pension Fund 12.8 8% 11.9 8% 0.9
Other Liabilities 28.5 19% 35.7 24% )7.2(
Total 155.0 100% 148.1 100% 6.9
5%
Members’ Equity: The value of Members’ Equity increased in 2014 by KD 227 million (8%) compared to 2013 reaching KD 3,052 million, this increase was mainly from reserves as shown in the below schedule:
34 Annual Report 2014 2014 2013 Variation Members’ Equity KD KD KD % % Million Million Million
Share Capital 2,555 84% 2,500 88% 55
General Reserve 255 8% 246 9% 9
Additional Reserve * 234 8% 76 3% 158
Other Reserves 8 0% 3 0% 5
Total 3,052 100% 2,825 100% 227
8% II. Income & Expenditures Income: Total Income for the year amounted to KD 92.7 million compared to KD 87.1 million in 2013, with an increase of 6% reaching KD 5.6 million. This increase was mainly from Interest Income from Loans as shown in the below schedule: 2014 2013 Variation Income KD KD KD % % Million Million Million
Interest Income from Loans 72.7 78% 67.2 77% 5.5
Gain from Investments 17.5 19% 21.2 24% )3.7(
Income of Arab Trade Finance Program 2.6 3% )1.2( )1( % 3.8
Other operating (Loss) )0.1( 0% )0.1( 0% 0.0
Total 92.7 100% 87.1 100% 5.6
6%
Expenditures: Total Administrative Expenses for the year amounted to KD 8.3 million compared to KD 8.1 million in 2013, this increase KD 0.2 million (2%) was a result of Other Expenses as shown in the below schedule: 2014 2013 Variation Expenditures KD KD KD % % Million Million Million
Staff Cost 6.3 76% 6.2 77% 0.1
Other Expenses 2.0 24% 1.9 23% 0.1
Total 8.3 100% 8.1 100% 0.2
2%
* The general provision of loans which amounted to KD 96.8 million is transferred to the additional reserve.
Annual Report 2014 35 Net Profit: Net profit for the year amounted to KD 84.4 million compared to KD 33.5 million in 2013, this increase KD 50.9 million (152%) was a result of an increase in Income and discontinued method of calculation of Loans’ Provision as shown in the below schedule:
2014 2013 Variation Net Profit KD KD KD % % Million Million Million
Net Profit before Provision 84.4 79.1 5.3
Loans’ Provision 0 )45.6( 45.6
Net Profit of the Year 84.4 33.5 50.9
152%
III. Cash Flows Shown below is a schedule summarizing the main Cash Flows:
KD Million Cash Flows 2014 2013
Net change in trading investments )104.6( )32.4(
Disbursements of loans )257.8( )251.5(
Loans Repayments 159.1 158.4
Disbursements of grants )8.0( )10.1(
Interest received 79.2 80.1
Paid up Capital 54.9 0.0
IV. Financial Indicators of Arab Fund Performance
2014 2013 Financial Ratios % %
Net Income/ Assets 2.6% 1.1%
Net Income/ Members’ Equity 2.8% 1.2%
Expenditures/ Revenues 9.0% 9.3%
Loans/ Assets 86.0% 86.2%
Loans/ Members’ Equity 90.3% 90.7%
36 Annual Report 2014 Arab Fund for Economic and Social Development Statement of Financial Position As at 31 December 2014 (KD 000)
2014 2013
Assets
Cash and cash equivalents 31,344 41,174
Investments 317,194 286,129
Investment in associate 73,233 49,214
Loans 2,756,985 2,561,474
Receivables from participants in the building 6,677 7,023
Other assets 21,321 27,842 Total assets 3,206,754 2,972,856
Liabilities and members’ equity
Liabilities
Special account for financing small and medium enterprises 79,412 69,546
Grants 34,299 30,902
Provision for pension fund 12,812 11,946
Other liabilities 28,475 35,674 Total liabilities 154,998 148,068
Members’ equity
Share capital 2,554,909 2,500,000
General reserve 254,650 246,207
Additional reserve 233,781 76,389
Grants reserve 4,296 3,752
Change in the fair value reserve 4,120 )1,560( Total members’ equity 3,051,756 2,824,788
Total liabilities and members’ equity 3,206,754 2,972,856
Annual Report 2014 37 Arab Fund for Economic and Social Development Statement of Comprehensive Income For the year ended 31 December 2014 (KD 000)
2014 2013
Income
Interest income from loans 72,730 67,229
Net investments gain 17,384 21,193
Interest income from time deposits and call accounts 66 38
Gain/ (Loss) from an associate 2,625 )1,268(
Operating expenses )51( )46(
Net income 92,754 87,146
Administrative expenses
Staff costs 6,326 6,137
Other expenses 2,001 1,925
8,327 8,062
Net Income before provision for loans 84,427 79,084
Provision for loans 0 )45,571(
Net profit for the year 84,427 33,513
Other comprehensive income
Net change in fair value of investments available for sale 5,680 580
Other comprehensive income for the year 5,680 580
Total comprehensive income for the year 90,107 34,093
38 Annual Report 2014 Arab Fund for Economic and Social Development Statement of Changes in Members’ Equity For the year ended 31 December 2014 (KD 000)
Change in Share General Additional Grants Retained Fair Value Total Capital Reserve Reserve Reserve Earnings Reserve
Balance as at 1 January 2014 2,500,000 246,207 76,389 3,752 (1,560) 0 2,824,788
Profit for the year 0 0 0 0 0 84,427 84,427
Other comprehensive income for the year 0 0 0 0 5,680 0 5,680
Total comprehensive income for the year 0 0 0 0 5,680 84,427 90,107
Share Capital paid 54,909 0 0 0 0 0 54,909
Transferred from general loans provision 0 0 96,803 0 0 0 96,803
Transfer to support people of Palestine 0 0 (3,351) 0 0 0 (3,351)
Transfer to Arab Academic Fellowship 0 0 0 0 0 (135) (135)
Transfer to grants reserve 0 0 (7,688) 11,909 0 (4,221) 0
Transfer to general reserve 0 8,443 0 0 0 (8,443) 0
Transfer to additional reserve 0 0 71,628 0 0 (71,628) 0
Grants approved 0 0 0 (13,078) 0 0 (13,078)
Grants cancelled and transferred 0 0 0 1,713 0 0 1,713
As at 31 December 2014 2,554,909 254,650 233,781 4,296 4,120 0 3,051,756
Balance as at 1 January 2013 2,000,000 242,856 561,275 6,641 (2,140) 0 2,808,632
Profit for the year 0 0 0 0 0 33,513 33,513
Other comprehensive income for the year 0 0 0 0 580 0 580
Total comprehensive income for the year 0 0 0 0 580 33,513 34,093
Transferred to Capital 500,000 0 (500,000) 0 0 0 0
Transfer to support people of Palestine 0 0 (10,362) 0 0 0 (10,362)
Transfer to Arab Academic Fellowship 0 0 0 0 0 (168) (168)
Transfer to grants reserve 0 0 (2,842) 4,518 0 (1,676) 0
Transfer to general reserve 0 3,351 0 0 0 (3,351) 0
Transfer to additional reserve 0 0 28,318 0 0 (28,318) 0
Grants approved 0 0 0 (7,412) 0 0 (7,412)
Grants cancelled and transferred 0 0 0 5 0 0 5
As at 31 December 2013 2,500,000 246,207 76,389 3,752 (1,560) 0 2,824,788
Annual Report 2014 39 Arab Fund for Economic and Social Development Statement of Cash flows For the year ended 31 December 2014 (KD 000)
2014 2013
Operating Activities
Profit for the year 84,427 33,513 Adjustments:
Interest income from loans (72,730) (67,229) Unrealized gains on investments (5,543) (11,068) Interest income from time deposits and call accounts (66) (38) Share in results from an associate (2,625) 1,268 Provision for Loans 0 45,571 Provision for pension fund 1,701 1,625 5,164 3,642 Changes in operating assets and liabilities
Net change in trading investments (104,619) (32,417) Disbursements of loans (257,848) (251,463) Loan’s repayments 159,140 158,375 Disbursements of grants (7,968) (10,049) Receivables from participants in the building 346 346 Other assets 67 (84) Special Account for Financing Small and Medium Enterprises 9,866 19,854 Other liabilities (10,550) (14,793) Cash flows used in operations (206,402) (126,589) Interests received 79,250 80,057 Pensions and employees’ end of service indemnity paid (835) (959) Net cash flows used in operating activities (127,987) (47,491) Investing activities
Net changes in other investments 63,248 48,410 Net cash flows from investing activities 63,248 48,410 Cash flows from financing activities
Capital paid 54,909 0 Net cash flows from financing activities 54,909 0 Net (decrease)/increase in cash and cash equivalents (9,830) 919 Cash and cash equivalents at beginning of the year 41,174 40,255 Cash and cash equivalents at end of the year 31,344 41,174
40 Annual Report 2014 Arab Fund for Economic and Social Development Independent Arab Regional Financial Organization - Kuwait Significant Accounting Policies a) Statement of compliance The financial statements of the Fund are prepared in accordance with accounting policies set out below and the establishment convention of the Fund. b) Basis of measurement The financial statements are prepared on a fair value basis for financial assets and liabilities held for trading and assets available for sale, except those for which a reliable measure of fair value is not available. Other financial assets and liabilities and non-financial assets and liabilities are carried at amortized cost or historical cost.
The accounting policies followed by the Fund are agreeing accordingly with the same policies followed in the previous year, except in discounting loan provision for impairment. c) Investments Financial assets and liabilities are classified at fair value through profit or loss when the assets or liabilities are managed, evaluated and reported on a fair value basis.
Financial instruments are measured initially through profit or loss at fair value. Transaction cost on financial instruments expensed through profitor loss immediately. Subsequent to initial recognition, all instruments measured at fair value through profit or loss are re-measured at fair value with changes in their fair value recognized in the profit or loss.
Investments which are not held to maturity or financial assets at fair value through profit or loss are classified as available for sale and are stated at fair value, with any resultant gain or loss being recognized directly in equity, except for impairment losses and, in case of monetary items, foreign exchange gains and losses. d) Loans The Fund management reevaluated the accounting policy related to loans. According to the followed policy, loans were listed at amortized cost minus the provision for impairment, where the value of the provision for impairment is estimated when the loans are not expected to be paid in full. This provision is listed in the statement of comprehensive income. According to the current accounting policy, the loans are listed at its amortized cost without any provision for impairment, as it is considered as a guaranteed sovereign loans from the successive governments of member countries. e) Impairment An assessment is made by the Fund at each reporting date for loans, other assets, available for sale investments and investment in associate ,to determine whether
Annual Report 2014 41 there is objective evidence that a financial asset or group of financial assets is impaired. All impairment losses are recognized in the profit or loss.
f) Investment in associate The investment in the associated entity is equity accounted.
g) Fixed assets Fixed assets are not capitalized but are fully written off to the statement of comprehensive income in the year of purchase.
h) Provision for pension fund Provision for the Fund’s obligation towards employees’ pension is determined based on contributions paid by the employees’ and the Arab Fund, in addition to a return of 10% p.a. guaranteed by the Arab Fund.
i) Foreign Currencies Transactions in foreign currencies are initially recorded by the Fund at their respective functional currency spot rates prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the reporting date are retranslated to the functional currency at the exchange rate at that date. Differences from adjustment of the monetary items are recognized in profit or loss.
j) Cash and cash equivalents Cash comprises of cash on hand and in banks, cash equivalents comprise bank balances and short term deposits.
k) Revenue recognition Interest income is recorded in profit and loss when earned, using the effective interest rate (EIR). Interest and commission on loans to countries with unpaid past due interest for over three months are excluded from the profit and loss and only recorded as income when received. Interest income from time deposits is recognized on a time proportion basis. Dividend income is recognized when the right to receive payment is established. Fees and commission income is recognized when earned.
42 Annual Report 2014 ANNEXES
Annual Report 2014 43 44 Annual Report 2014 Annex 1
Project Sheets for Loans Extended During the Year 2014
Annual Report 2014 45 Annex 1 Project 1 of 13
Republic of Djibouti Social Housing - Phase II (Supplementary Loan)
Loan No.: 607 Interest Rate: 2.5% Djibouti Real Estate Company Beneficiary: and Ministry of Housing, Urban Grace Period: 5 years Planning, and Environment Project Cost: KD 7.44 million Maturity: 25 years Amount of 41 semi-annual KD 1.0 million Repayment: Loan: installments Date of Loan 09/03/2014 5 years following Agreement: First the first Date of Installment: disbursement Effectiveness:
Objectives:
The project aims at meeting the increasing demand for housing units for citizens in the lower income category, in order to improve their living conditions. The project represents the second phase of a plan to build about three thousand housing units in the Balbala area.
Description:
The project includes the construction of approximately 700 housing units in Djibouti City, and the provision of basic services. The project includes the following main components:
1. Land Expropriation and Basic Services: This includes primary leveling, paving of main roads, and provision of basic services through the extension of the main water and electricity lines to the site.
2. Construction of Houses: This includes the construction of approximately 700 housing units, with the build up area of each unit ranging between 70 m2 and 90 m2. It also includes the installation of water, electrical and sewage networks.
3. Sewage Utilities: This includes the installation of the main wastewater collector, and the construction of two pumping stations.
4. Consultancy Services: This includes the preparation of the design and tender documents, and the supervision of project implementation.
46 Annual Report 2014 Annex 1 Project 1 of 13
Financing:
The two Arab Fund’s loans, loan No. 456/2003 and the supplementary loan, cover about 94% of the total project cost. The Government of Djibouti will cover the remaining cost of the project and any additional cost that may arise.
Annual Report 2014 47 Annex 1 Project 2 of 13
Arab Republic of Egypt Electrical Interconnection Between the Arab Republic of Egypt and the Kingdom of Saudi Arabia
Loan No.: 603 Interest Rate: 3.0% Egyptian Electricity Beneficiary: Grace Period: 4 years Transmission Company Project Cost: KD 177.7 million Maturity: 25 years Amount of 43 semi-annual KD 45.0 million Repayment: Loan: installments Date of Loan 24/03/2014 Agreement: First 4 years following the Date of Installment: first disbursement 02/10/2014 Effectiveness:
Objectives:
The project aims at interconnecting the Egyptian electric power grid to the Saudi electric power grid using a 500 KV bipolar high voltage direct current interconnection, approximately 1,320 km long, and having a transmission capacity of 3,000 MW. This will lead to the interconnection of the two largest power grids in the Arab world with a total capacity exceeding 90 thousand MW, and will thus complete the interconnection between the Gulf Cooperation Council countries, the eight eastern Arab countries and the COMELEC countries.
Description:
The project, which is expected to be completed by the end of 2016, consists of constructing three 500 kV AC/DC conversion stations, aerial power lines and an undersea cable, the supply and installation of transformers, circuit breakers, measurement and control system and accessories, in addition to consultancy services and insurance. The project includes the following main components:
1. Part of the Project within the Arab Republic of Egypt:
a. Conversion Station: This includes the construction of a 3,000 MW, 500 kV bipolar AC/DC conversion station and its accessories. This also includes the construction of a transition station from the undersea cable to the aerial line, and its accessories, on the west shore of the Gulf of Aqaba.
b. Aerial Power Lines: This includes the supply and installation of 500 kV bipolar DC aerial power lines, approximately 454 km long.
c. Consultancy Services: This includes technical and consultancy services to assist in bids evaluation, contract negotiations, project supervision, participation in factory tests and supervision of project commissioning.
48 Annual Report 2014 Annex 1 Project 2 of 13
2. Part of the Project within the Kingdom of Saudi Arabia:
a. Conversion Station: This includes the construction of two 500 kV bipolar AC/DC conversion stations in East Medinah and Tabuk rated at 3,000 MW and 1,500 MW respectively, and their accessories. This also includes the construction of a station for the transition from the undersea cable to the aerial line, and its accessories, on the east shore of the Gulf of Aqaba.
b. Aerial Power Lines: This includes the supply and installation of 500 kV bipolar DC aerial power lines, approximately 850 km long.
c. Consultancy Services: This includes technical and consultancy services for this part of the project.
3. Common Part of the Project in the Gulf of Aqaba:
a. Undersea Cable: This includes the supply and installation of a 500 kV bipolar DC undersea cable, approximately 16 km long.
b. Consultancy Services: This includes technical and consultancy services to assist in bids evaluation, contract negotiations, project supervision, participation in factory tests and supervision of project commissioning.
Financing:
The Arab Fund’s loan covers about 25% of the total project cost. European financial institutions contribute to the project with a loan equivalent to about KD 78.6 million (about 44%), the World Bank with a loan equivalent to about KD 34.2 million (about 19%), and the African Development Bank with a loan equivalent to about KD 12.2 million (about 7%). The beneficiary and the Egyptian Government will cover the remaining cost of the project and any additional cost that may arise.
Annual Report 2014 49 Annex 1 Project 3 of 13
Arab Republic of Egypt Assiut Power Generating Station (El-Walidia) 650 MW
Loan No.: 604 Interest Rate: 3.0% Upper Egypt Electricity Beneficiary: Grace Period: 6 years Production Company Project Cost: KD 192.6 million Maturity: 25 years Amount of 39 semi-annual KD 55.0 million Repayment: Loan: instalments Date of Loan 24/03/2014 Agreement: First 6 years following the Date of Installment: first disbursement 28/08/2014 Effectiveness:
Objectives:
The project aims at satisfying the increasing demand for electric power and energy, by raising the installed power generation capacity of the Egyptian network by 650 MW. This will be accomplished by constructing a steam power generating station in the city of Assiut that runs on heavy fuel oil as the primary fuel.
Description:
The project, which is expected to be completed in the last quarter of 2018, comprises a 650 MW sub-critical steam generating unit consisting of a boiler, a turbine, a power generator, a condenser, and accessories. The project consists of the following main components:
1. Boiler and Accessories: This includes the design, supply and installation of a boiler and its accessories, in addition to the commissioning and supply of burner management systems, and other necessary works.
2. Steam Turbine, Power Generator, Condenser and Accessories: This includes the design, manufacture, supply and installation of a steam turbine, a power generator, a condenser and accessories.
3. Pumps and Accessories: This includes the design, manufacture, and supply of main pumps, start-up pumps, condensate pumps and other pumps, in addition to the installation supervision, and commissioning.
4. Feed Water Heaters: This includes the design, manufacture, supply and installation of feed water heaters, and installation supervision and commissioning.
5. Water Treatment and Environmental Pollution Monitoring: This includes the supply and installation of water treatment systems and environmental pollution monitoring equipment.
50 Annual Report 2014 Annex 1 Project 3 of 13
6. Transformers and Circuit Breakers: This includes the design and supply of the main 850 MVA power transformer, the interconnection transformer 500/220 kV and auxiliary transformers. This also includes the supply and installation of the switchyard.
7. Critical Pipes and Valves: This includes the manufacture and supply of critical pipes, valves, heat sensors, thermocouples, flow meters and accessories, and the installation supervision and commissioning.
8. Mechanical and Electrical Works: This includes the supply and installation of fire fighting systems, air compressors and other mechanical equipment, and critical pipes. The electrical works include the supply and installation of battery systems and distribution boards, in addition to the installation of transformers, medium voltage breakers, DCS and other electrical equipment.
9. Measurement and Control Systems: This includes the supply of measurement and control systems and accessories, and the installation supervision and commissioning.
10. Civil Works and Tanks Yard: This includes civil works, and construction of roads, buildings and tanks.
11. Consultancy Services and Insurance: This includes technical and consultancy services required for the project design and environmental impact study, preparation of tender documents, and other technical, advisory and supervisory services, in addition to project insurance.
Financing:
The Arab Fund’s loan covers about 29% of the total project cost. It is expected that the Saudi Fund for Development will contribute to the financing of the project with a loan equivalent to about KD 8.5 million (about 4%), the Kuwait Fund for Arab Economic Development with a loan of about KD 30 million (about 16%), the OPEC Fund for International Development with a loan equivalent to about KD 15.5 million (about 8%) and the Islamic Development Bank with a loan equivalent to about KD 62.8 million (about 32%). The beneficiary and the Egyptian Government will cover the remaining cost of the project and any additional cost that may arise.
Annual Report 2014 51 Annex 1 Project 4 of 13
Sultanate of Oman Infrastructure Facilities for Sumail Industrial Estate
Loan No.: 576 Interest Rate: 3.0% Public Establishment Beneficiary: Grace Period: 4 years for Industrial Estates Project Cost: KD 19.2 million Maturity: 20 years Amount of 33 semi-annual KD 14.0 million Repayment: Loan: installments Date of Loan 08/04/2014 Agreement: First 4 years following the Date of Installment: first disbursement
Effectiveness:
Objectives:
The project aims at developing the industrial sector in the Sultanate of Oman in order to create new jobs, particulary for the youth. This will be achieved through the construction of a new industrial estate at Sumail area that includes all the infrastructure facilities needed to enable investors to build new industries.
Description:
The project, which is expected to be completed by the end of 2016, consists of the following main components:
1. Civil Works: These include construction of buildings, water reservoirs, water networks for drinking, industrial use and for fire fighting, wastewater networks and treatment plants, rainfall drainage canals, irrigation networks, main and secondary roads, parking areas and all other civil works needed for the project.
2. Technical Services: These include preparing studies, final detailed design, tender documents, and construction supervision. In addition, technical services include hiring of local and foreign experts.
3. Institutional Support: This includes procurement of equipment and tools needed to operate and maintain the different facilities, in addition to conducting training programs for the local staff, and carrying out a program to raise the awareness of industries on safety and environmental protection.
Financing:
The Arab Fund’s loan covers about 73% of the total project cost. The Public Establishment for Industrial Estates will cover the remaining cost of the project and any additional cost that may arise.
52 Annual Report 2014 Annex 1 Project 5 of 13
Sultanate of Oman Housing Program
Loan No.: 605 Interest Rate: 3.0% Oman Housing Bank Beneficiary: Grace Period: 4 years (S.A.O.C) Project Cost: KD 50.0 million Maturity: 22 years Amount of 37 semi-annual KD 40.0 million Repayment: Loan: installments Date of Loan 08/04/2014 Agreement: First 4 years following the Date of Installment: first disbursement 18/09/2014 Effectiveness:
Objectives:
The program aims at meeting the needs of qualified low and middle-income citizens for adequate housing, which will enable them to improve their living conditions and social situation. This will be accomplished through the provision of concessional loans to those citizens for the purchase or construction of housing units.
Description:
The program, which is expected to be completed during the second quarter of 2017, consists of the provision of concessional loans by the Oman Housing Bank to qualified low and middle-income citizens for the purchase or construction of housing units. The amount of each loan cannot exceed 90% of the value of the housing unit, or 60 thousand Omani Riyals, whichever is lower, and the loan repayment period cannot exceed 25 years.
Financing:
The Arab Fund’s loan covers about 80% of the total program cost. The Omani Government will cover the remaining cost of the program and any additional cost that may arise.
Annual Report 2014 53 Annex 1 Project 6 of 13
Republic of Yemen Infrastructure Development in Sana’a City
Loan No.: 606 Interest Rate: 2.5% Municipality of Beneficiary: Grace Period: 6 years Sana’a Project Cost: KD 37.1 million Maturity: 19 years Amount of 39 semi-annual KD 30.0 million Repayment: Loan: installments Date of Loan 08/04/2014 Agreement: First 6 years following the Date of Installment: first disbursement 22/06/2014 Effectiveness:
Objectives:
The project aims at improving the efficiency of the main road network, minimizing traffic congestion, and protecting the population, buildings, shops and existing infrastructure from potential damage caused by the floods in different parts of the capital Sana’a. This will be accomplished through the construction of the necessary facilities for main road intersections and storm water drainage in the city of Sana’a.
Description:
The project, which is expected to be completed by the end of 2017, comprises two main parts, the first constitutes the fourth stage of the main road intersections while the second includes the works of flood protection in different parts of Sana’a. The project also includes the provision of technical services and institutional support. The project includes the following components:
1. Main Intersections Works: This part includes all civil works required to construct bridges and tunnels at four intersections: 50th street with Shahran street, 60th street with Taiz street, 40th street with May 22nd street, and 60th street with Faj Attan street. It also includes the construction of a branch bridge at the intersection of 50th street with October 14th street, and three tunnels at the following intersections: 60th street with Al-Anab Valley street, 60th street with Al-Nahda street, and 60th street with Al- Rabat street, in addition to all necessary auxiliary works such as water drainage, electrical lighting, signals and traffic signs, as well as the extension and relocation of the utility networks affected by the works.
2. Flood Protection Works: This includes the extension of the main open channel for water drainage, known as Al-Saylah, located in the northern part of the city of Sana’a, with a length of about 9,500 m and a width ranging between 20 m and 24 m, and the
54 Annual Report 2014 Annex 1 Project 6 of 13
construction of about 24 pedestrian bridges and two vehicle bridges. It also includes the installation of a main sewer line of about 4,000 m in length with a 1.5 m diameter, the landscaping works (sidewalks, planting, lighting, traffic signs and signals), and all other necessary auxiliary works related to the main channel and its branches, in addition to all services related to these works.
3. Technical Services: This includes the technical services required for the preparation of technical studies, the review and update of the design and tender documents, the analysis of bids and the supervision of the project. It also includes the acquisition of machinery and equipment required for the operation and maintenance of the facilities, and the implementation of a training program for local staff working in the areas of roads, bridges and flood protection in Sana’a.
Financing:
The Arab Fund’s loan covers about 81% of the total project cost. The Yemeni Government will cover the remaining cost of the project and any additional cost that may arise.
Annual Report 2014 55 Annex 1 Project 7 of 13
Republic of Tunisia Regional and Rural Roads Network (Phase III)
Loan No.: 608 Interest Rate: 3.0% Ministry of Equipment, Beneficiary: Spatial Planning and Grace Period: 5 years Sustainable Development Project Cost: KD 53.7 million Maturity: 22 years Amount of 35 semi-annual KD 40.0 million Repayment: Loan: installments Date of Loan 08/04/2014 5 years following Agreement: First the first Date of Installment: 10/09/2014 disbursement Effectiveness:
Objectives: The project aims at improving land transportation in a number of Tunisian governorates, and linking agricultural production areas with markets and export facilities. This will be achieved through the construction and rehabilitation of a number of regional and rural roads. The Arab Fund has also financed the first two phases of the project.
Description: The project, which is expected to be completed by the end of 2016, includes the construction and strengthening of several segments of the classified regional road network, and the construction and improvement of a large number of rural roads, in addition to technical services required for construction supervision and quality control. The project includes the following main components:
1. Development of the Regional Road Network: This includes the construction and strengthening of 7 segments distributed over 6 governorates. These segments have a total length of about 210 km, with an asphaltic width ranging between 7 m and 8 m, and shoulders on each side with a width ranging between 1.5 m and 2.75 m. It also includes water drainage structures and other ancillary works.
2. Construction of Rural Roads: This includes the construction and improvement of 117 rural roads, distributed over 22 governorates, with a total length of about 750 km, and overall width ranging between 8 m and 11 m. It also includes water drainage structures and other ancillary works.
3. Technical Services: This includes providing consultancy services to assist the Ministry in construction supervision and quality control of the works. It also includes the preparation of additional studies that may be required for the project execution, and any modifications of the project design.
56 Annual Report 2014 Annex 1 Project 7 of 13
Financing:
The Arab Fund’s loan covers about 74% of the total project cost. The Tunisian Government will cover the remaining cost of the project and any additional cost that may arise.
Annual Report 2014 57 Annex 1 Project 8 of 13
Republic of Lebanon Housing Project
Loan No.: 585 Interest Rate: 3.0%
Beneficiary: Housing Bank Grace Period: 4 years
Project Cost: KD 42.5 million Maturity: 22 years Amount of 37 semi-annual KD 34.0 million Repayment: Loan: installments Date of Loan 11/05/2014 Agreement: First 4 years following the Date of Installment: first disbursement Effectiveness:
Objectives: The project aims at contributing to the reduction in the severity of the housing crisis, and meeting the needs of low and middle-income citizens for adequate housing, which will enable them to improve their living conditions and social situation. This will be accomplished through the provision of concessional loans to those citizens for the purchase or construction of housing units.
Description:
The project, which is expected to be completed by the end of the second quarter of 2015, consists of the provision of concessional loans by the Housing Bank to low and middle- income citizens for the purchase or construction of housing units. The project includes the following main components:
1. Loans to Low-Income Citizens: This component includes the provision of loans by the Housing Bank to low-income citizens, that is those whose monthly family income does not exceed ten times the minimum monthly salary, for the purchase or construction of a housing unit. The amount of each loan cannot exceed 80% of the value of the housing unit, or 300 million Lebanese Pounds, whichever is lower, and the loan repayment period cannot exceed 20 years.
2. Loans to Middle-Income Citizens: This component includes the provision of loans by the Housing Bank to middle-income citizens, that is those whose monthly family income ranges between ten and fifteen times the minimum monthly salary, for the purchase or construction of a housing unit. The amount of each loan cannot exceed 80% of the value of the housing unit, or 450 million Lebanese Pounds, whichever is lower, and the loan repayment period cannot exceed 20 years.
Financing:
The Arab Fund’s loan covers about 80% of the total project cost. Beneficiaries from the housing loans will cover the remaining cost of the project and any additional cost that may arise.
58 Annual Report 2014 Annex 1 Project 9 of 13
Republic of Lebanon Completion of Wastewater Facilities in Lebanon
Loan No.: 600 Interest Rate: 3.0% Council for Beneficiary: Development and Grace Period: 5 years Reconstruction Project Cost: KD 49.1 million Maturity: 22 years Amount of 35 semi-annual KD 30.0 million Repayment: Loan: installments Date of Loan 11/05/2014 5 years following Agreement: First the first Date of Installment: disbursement Effectiveness:
Objectives:
The project aims at meeting the increasing demand for wastewater services in the Abda – Akkar Basin, Central and Northern Bekaa and Echouf. The project also aims at controlling the arbitrary disposal of wastewater that flows from cesspits and open channels into streams, rivers and coastal waters, thus protecting sources of groundwater, surface water and beaches from pollution.
Description:
The project, which is expected to be completed by the end of 2018, includes the construction or completion of wastewater collection networks consisting of main, secondary, sub and side pipelines, as well as house connections and pumping stations which will serve to collect the wastewater from towns and villages within the project area and transfer it to the existing treatment plants or to the ones that will be constructed within this project to treat the wastewater before it is disposed of. The project also includes provision of the necessary consultancy services to update and complete studies on some sub projects, preparation of their engineering designs and tender documents, supervision of the project implementation, as well as preparation of any necessary additional studies required to fulfill the project’s objectives, and provision of institutional support to the Council. The project includes the following main components:
1. The Main Works (Networks and Stations): a. Completion of the Sub Project in the Abda – Akkar Basin: The wastewater works required for the Abda – Akkar Basin were divided into three stages, that is, Coast 1, 2 and 3, which cover about 80 towns and villages. The sub project for this area is limited to the completion of the first stage (Coast 1) which will be partially financed through the Arab Fund’s loan No. 496/2006. This component consists of constructing the collection pipelines, the house connections and the main manholes, as well as diverting the primary treatment plant in Abda to the secondary treatment plant, and providing it with all the necessary equipment, with the possibility of expanding it in the future to meet the needs of the three stages.
Annual Report 2014 59 Annex 1 Project 9 of 13
b. Sub Project in Central and Northern Bekaa: This sub project serves several towns and villages of Central and Northern Bekaa which lie along the Litani River in the area confined between the north of Zahleh and the south of Baalbek. This sub project consists of the collection network, the house connections and a secondary treatment plant. c. Completion of the Sub Project in the Coast of Echouf: This sub project consists of completing the wastewater networks which have been partially executed, by extending the sub and side pipelines, constructing the necessary pumping stations and house connections in order to transport the wastewater from the towns and villages of this area to the treatment plant. d. The Sub Project in El Arkoob: This sub project serves an area which comprises a number of towns, and consists of the construction of a wastewater network comprising of main, secondary, sub and side pipelines, pumping stations and house connections, as well as a number of wastewater treatment plants with all their equipment.
2. Consultancy Services and Institutional Support: This component consists of updating and completing studies on some sub projects, preparing their designs and tender documents, supervising the project implementation, as well as preparing any necessary additional studies required to fulfill the project’s objectives. This component also includes the use of experts to assist the project unit in managing the implementation, and institutional support to the Council.
3. Land Expropriation: This component includes the acquisition of land required for the execution of the project.
Financing:
The Arab Fund’s loan covers about 61% of the total project cost. The Lebanese Government will cover the remaining cost of the project and any additional cost that may arise.
60 Annual Report 2014 Annex 1 Project 10 of 13
Republic of Tunisia Upper Mellegue Dam
Loan No.: 609 Interest Rate: 3.0%
Beneficiary: Ministry of Agriculture Grace Period: 6 years
Project Cost: KD 40.8 million Maturity: 22 years Amount of 33 semi-annual KD 30.0 million Repayment: Loan: installments Date of Loan 24/06/2014 6 years following Agreement: First the first Date of Installment: disbursement Effectiveness:
Objectives:
The project aims at improving the regulation of Wadi Mellegue water, one of the main tributaries of Wadi Medjerda, through the construction of the upper Mellegue dam and its appurtenant structures in El Kef province, in order to compensate for the decrease in the storage capacity of the existing Mellegue dam on Wadi Mellegue due to the accumulation of sediment in its reservoir. The dam will also contribute to the flood protection of the lands and buildings in both Wadi Mellegue and Wadi Medjerda basins, and to an increase in the quantities of regulated surface water resources in the northwestern region of Tunisia, through the storage of flood water which is currently wasted into the Mediterranean Sea. The water regulated through this project will allow for the intensification of agricultural production in the lands equipped for irrigation downstream of Upper Mellegue dam in the plains of Wadi Mellegue and Wadi Medjerda, and electricity generation from an associated small power station.
Description:
The project, which is expected to be completed by the middle of the year 2020, consists of the construction of a dam on Wadi Mellegue and its appurtenant structures, which include a small hydroelectric power station, at a location approximately 16 km west of the city of El Kef, as well as the technical services necessary to implement the project. The project also includes the expropriation of land necessary to implement and operate the dam, in addition to project management. The project consists of the following main components:
1. Dam Construction: This includes the construction of a roller compacted concrete gravity dam and its appurtenant structures on Wadi Mellegue. The dam has a height of approximately 42 m above the Wadi bed (approximately 70 m above the foundation), a crest length of approximately 432 m and width of 7 m. It also includes a fill dyke with a height of approximately 4 m and a length of approximately 65 m to close
Annual Report 2014 61 Annex 1 Project 10 of 13
a depression in the right bank of the Wadi, and a roller compacted concrete dyke with a height of approximately 35 m and a length of approximately 260 m to close a depression in the left bank of the Wadi. The dam’s appurtenant structures includes a main spillway above the dam with a discharge capacity of 8,600 m3/s, a secondary spillway in the right bank of the Wadi with a discharge capacity of 6,100 m3/s, a small hydroelectric power station with installed capacity of approximately 2 MW, in addition to a water intake and a bottom outlet. The dam impounds a reservoir with a storage capacity of approximately 195 million m3. This component also includes all the preparatory, civil, hydro mechanical and electrical works necessary to construct the dam and its appurtenant structures.
2. Technical Services: This includes consultancy services necessary to review and complete the studies and designs, and the construction supervision of the project. It also includes, when required, the services of international experts to review the studies and designs, and provide technical advice during the implementation of the project.
3. Land Expropriation: This includes the land acquisition and compensation for properties required for the construction of the dam.
4. Project Management: This includes the establishment and management of the project management unit which will be responsible for the follow up and monitoring of the construction works.
Financing:
The Arab Fund’s loan covers about 74% of the total project cost. The Tunisian Government will cover the remaining cost of the project and any additional cost that may arise.
62 Annual Report 2014 Annex 1 Project 11 of 13
The Islamic Republic of Mauritania Construction of a Solar Power Station in Nouakchott and the Modernization of the Electrical System
Loan No.: 610 Interest Rate: 2.5 %
Beneficiary: SOMELEC Grace Period: 7 years
Project Cost: KD 47.6 million Maturity: 25 years Amount of 37 semi-annual KD 30.0 million Repayment: Loan: installments Date of Loan 24/06/2014 7 years following Agreement: First the first Date of Installment: disbursement Effectiveness:
Objectives:
The project aims at meeting the increasing demand for power and energy in the city of Nouakchott and its suburbs without using fossil fuel, controlling the electrical grid, and supplying small towns and villages in eastern Mauritania with electricity.
Description:
The project, which is expected to be completed in the first quarter of 2017, includes the construction of a solar power generating station, a control center to supervise the operation of the electrical generation, transmission and distribution systems, a generation and distribution system for the eastern areas of Mauritania, and the provision of necessary consultancy services and institutional support. The project includes the following main components:
1. Solar Power Generating Station in Nouakchott: This includes the construction of a 30 MW solar power generating station east of Nouakchott, and its connection to the transmission network. The works include the supply and installation of solar panels, collectors of DC current, current inverters, step up transformers, circuit breakers and cables inside the station, the construction of a 33 kV line to connect the solar station to the eastern substation, along with the necessary civil works.
2. Network Control Center: This includes the construction of a center to control the existing and future power generating stations, the entire 225 kV and 33 kV transmission network, and a small portion of the 15 kV distribution network, in the city of Nouakchott.
3. Generation and Distribution System for the Eastern Areas: This includes the supply and installation of two hybrid power generating stations in the cities of Al-
Annual Report 2014 63 Annex 1 Project 11 of 13
Ne’ma and Adel-Bagrou, each made up of a thermal section and a solar section, and the construction of a 33 kV, 15 kV and 0.4 kV distribution system to supply small towns and villages located in five governorates in the eastern areas of Mauritania.
4. Consultancy Services: This includes providing consultancy services necessary to assist SOMELEC in the preparation of tender documents, contractual procedures, review of design drawings, project supervision, equipment witness testing and project acceptance.
5. Institutional Support: This includes training of SOMELEC employees, conducting studies, the acquisition, delivery and installation of computers, systems and printers, along with the acquisition of fault-finding equipment.
Financing:
The Arab Fund’s loan covers about 63% of the total project cost. It is expected that the OPEC Fund for International Development will contribute to the financing of the project with a loan for an amount equivalent to about KD 2.8 million (around 6%). The Mauritanian Government will cover the remaining cost of the project and any additional cost that may arise.
64 Annual Report 2014 Annex 1 Project 12 of 13
Kingdom of Morocco Irrigation of the Chtouka Aït Baha Region with Desalinated Water
Loan No.: 611 Interest Rate: 3.0% Ministry of Agriculture Beneficiary: Grace Period: 5 years and Fishery Project Cost: KD 86.9 million Maturity: 22 years Amount of 35 semi-annual KD 50.0 million Repayment: Loan: installments Date of Loan 24/06/2014 5 years following Agreement: First the first Date of Installment: 12/11/2014 disbursement Effectiveness:
Objectives:
The project aims at achieving the sustainable and safe use of the Chtouka underground water basin, preventing its depletion, preserving the irrigation facilities and agricultural equipment in the Chtouka Aït Baha region, and increasing the production of vegetables with high value added, through the desalination and distribution of sea water. The project will contribute to the development of agricultural exports, the protection of the environment, and the provision of new employment opportunities.
Description:
The project, which is expected to be completed by the end of the third quarter of 2019, includes the construction of a water desalination plant on the Atlantic Ocean, and a conveyance and distribution network of the desalinated water to the green houses in the Chtouka Aït Baha region. The project consists of the construction of a desalination plant, reservoirs, pumping stations, and the laying of pipelines, in addition to the supply of the desalination plant and pumping stations with electricity. The project also includes provision of the necessary technical services to prepare the studies and designs, assistance with tender documents and bid analysis, and construction supervision, as well as institutional support to the beneficiary and implementing agencies. The project consists of the following main components:
1. Desalination Plant and Facilities for the Transport and Distribution of Irrigation Water:
a. Desalination Plant: This includes the construction of a desalination plant with a daily capacity of about 110 thousand m3. The plant includes two water intakes, two pipelines with a length of about 1,500 m and a diameter of about 1,600 mm
Annual Report 2014 65 Annex 1 Project 12 of 13
each, a storage reservoir, and a pumping station with a capacity of about 1.6 m3 per second and a head of 125 m. It also includes all equipment for the reverse osmosis desalination plant, a reservoir for the desalinated water with a capacity of about 25 thousand m3, and a pipeline for the disposal of the brines into the sea with a length of about 3,600 m and a diameter of about 1,800 mm.
b. Facilities for the Transport and Distribution of Irrigation Water: This includes the construction of three stations to pump the desalinated water, with capacities ranging between about 1.0 and 2.4 m3 per second and a head ranging between about 112 and 125 m, and the laying of pipelines to transport and distribute the desalinated water, with a total length of about 305 km and diameters ranging between 160 and 1,100 mm.
2. Supply of Electricity: This includes the construction of 60 kV electric transmission lines with a total length of about 107 km, to supply the desalination plant and the pumping stations with electricity.
3. Technical Services: These include the provision of consultancy services for preparation of the project studies and assistance with tender documents and bid analysis, the construction supervision, as well as the preparation of any studies required to achieve the objectives of the project.
4. Institutional Support: This includes the acquisition of some necessary equipment to manage the project implementation, the training of employees of the beneficiary and implementing agencies, as well as the provision of guidance and awareness services to the farmers for their contribution to the financing ofthe project and the achievement of its objectives.
Financing:
The Arab Fund’s loan covers about 58% of the total project cost. It is expected that the farmers and a qualified private sector partner, who will construct and operate the project facilities, will contribute to the financing of the project for a total amount of about KD 9.6 million (about 11%). The Moroccan Government will cover the remaining cost of the project and any additional cost that may arise.
66 Annual Report 2014 Annex 1 Project 13 of 13
Republic of Yemen Al Ghaydah Central Hospital
Loan No.: 612 Interest Rate: 2.5% Ministry of Public Beneficiary: Grace Period: 5 years Health and Population Project Cost: KD 15.5 million Maturity: 25 years Amount of 41 semi-annual KD 6.0 million Repayment: Loan: installments Date of Loan 24/06/2014 5 years following Agreement: First the first Date of Installment: disbursement Effectiveness:
Objectives:
The project aims at improving health services in the governorate of Mahara, providing modern medical equipment, and supporting the training of local staff.
Description:
The project, which is expected to be completed by the end of 2017, includes the construction of a public hospital with a capacity of 130 beds in the city of Al Ghaydah, and housing for hospital employees. The project consists of the following main components:
1. Construction and Equipment: a. Buildings for health services and housing of employees. b. Infrastructure works, including roads, parking lots, electricity, communication networks, water and wastewater networks, waste treatment, and all other auxiliary works. c. Equipment, both medical and non-medical, and furniture.
2. Technical Services: These include the consultancy services needed to supervise the construction of the project, the use of expert services to help the project implementation unit, the training of local staff, and institutional support needed for the project management and operation.
Financing:
The Arab Fund’s loan covers about 40% of the total project cost. The Sultanate of Oman will provide a grant in an amount equivalent to about KD 7 million (around 46%). The Yemeni Government will cover the remaining cost of the project and any additional cost that may arise.
Annual Report 2014 67 Annex 2 Page 1 of 2
Capital, Resources and Status of Loans and Grants 1972 - 2014
(KD Million)
Total Administrative Surplus Years Capital Income Signed Loans Resources Expenses Income
1972 15.4 16.0 0.6 0.1 0.5 - 1973 21.7 22.7 1.0 0.6 0.4 - 1974 36.0 38.7 2.9 0.8 2.1 37.1 1975 52.0 57.4 3.7 0.9 2.8 56.1 1976 99.6 108.5 5.9 1.5 4.4 98.2 1977 131.9 145.7 10.3 2.1 8.2 103.9 1978 164.9 186.2 11.3 2.2 9.1 - 1979 202.7 225.8 14.7 2.0 12.7 19.4 1980 260.7 313.2 22.1 2.2 19.9 30.2 1981 317.5 393.3 26.8 2.1 24.7 40.5 1982 374.2 482.9 36.7 2.4 34.3 67.3 1983 450.1 598.4 40.2 3.2 37.0 91.1 1984 520.5 680.4 40.2 2.9 37.3 85.6 1985 581.1 797.4 61.0 3.2 57.8 53.2 1986 642.2 960.5 113.8 3.2 110.6 104.5 1987 644.2 1,009.3 53.9 3.2 50.7 65.4 1988 644.3 1,062.0 80.0 2.9 77.1 112.9 1989 663.0 1,176.2 103.7 3.0 100.7 165.8 1990 663.0 1,236.7 68.9 3.2 65.7 195.0 1991 663.0 1,245.2 74.4 3.7 64.9 171.4 1992 663.0 1,344.4 116.7 3.2 104.7 175.7 1993 663.0 1,424.9 99.5 3.1 85.0 184.5 1994 663.0 1,421.5 2.8 3.3 - 0.4 194.4 1995 663.0 1,495.3 117.2 3.4 80.6 207.5 1996 663.0 1,584.8 98.5 4.0 94.4 266.4 1997 663.0 1,675.0 105.4 4.1 96.1 244.1 1998 663.0 1,747.8 83.8 4.7 77.9 258.0 1999 663.0 1,828.7 95.3 4.7 86.6 266.0 2000 663.0 1,933.2 81.4 4.7 76.7 279.5 2001 663.0 1,983.9 53.6 4.9 48.7 285.0 2002 663.0 2,054.4 34.2 4.9 78.6 293.5 2003 663.0 2,169.8 129.2 4.9 122.4 308.5 2004 663.0 2,266.0 119.3 5.2 113.2 309.0 2005 663.0 2,354.5 108.4 5.9 102.6 335.0 2006 663.0 2,451.1 126.5 6.6 119.6 345.0 2007 663.0 2,535.0 117.3 6.0 111.2 368.0 2008 2,000.0 2,513.4 6.0 6.7 - 0.9 366.8 2009 2,000.0 2,617.5 123.2 7.3 115.8 334.1 2010 2,000.0 2,669.7 95.4 6.9 89.3 360.5 2011 2,000.0 2,717.2 76.2 7.4 68.8 340.0 2012 2,000.0 2,808.6 112.0 8.4 103.6 379.0 2013 2,500.0 2,824.8 87.1 8.1 33.5 388.0 2014 2,554.9 3,051.8 92.8 8.3 84.4 412.5 Total - - 2,853.9 172.2 2,613.3 8,398.7
68 Annual Report 2014 Annex 2 Page 2 of 2
Capital, Resources and Status of Loans and Grants 1972 - 2014
(KD Million)
Average No. of No. of No. of No. of Loan Grant Amount Repayments Grants Member Beneficiary Technical Loans* Disbursements Disbursements of Loan* States Countries Staff ------17 ------17 - 18 8 4.6 1.8 - 0.2 0.1 17 7 26 11 5.1 11.7 - 0.5 0.1 20 8 30 14 7.0 18.3 - 0.4 0.2 21 10 43 15 6.9 24.7 - 1.0 0.6 21 11 56 - - 61.8 0.2 0.4 0.3 21 - 48 4 4.9 37.0 2.1 0.3 0.2 21 6 30 9 3.4 25.5 3.4 0.7 0.2 21 8 32 13 3.1 36.1 6.0 1.3 0.2 22 11 29 26 2.6 26.8 9.5 1.3 0.7 22 9 21 29 3.1 30.2 11.9 1.5 0.6 22 12 32 21 4.1 29.9 10.8 1.3 0.7 22 11 37 17 3.1 44.5 12.6 1.4 1.2 22 11 44 20 5.2 57.3 26.2 3.3 1.0 22 10 50 11 5.9 48.4 25.5 3.8 2.2 22 7 50 20 5.6 45.5 26.0 5.1 2.7 22 9 50 15 11.1 84.0 31.1 3.8 4.8 22 8 50 18 10.8 40.6 26.8 4.7 3.4 21 8 52 11 15.6 85.7 46.6 3.3 4.2 21 8 45 13 13.5 103.1 44.7 3.4 3.2 21 8 46 12 15.4 116.5 40.5 5.9 3.2 21 6 43 16 12.2 115.7 40.1 3.5 4.1 21 9 45 12 17.3 174.8 42.4 5.8 3.9 21 7 46 18 14.8 212.7 46.9 2.9 3.5 21 9 61 22 11.1 178.5 50.0 4.9 3.0 21 9 66 18 14.3 165.6 53.1 3.9 3.9 21 10 65 15 17.7 173.2 51.9 6.3 4.5 21 12 68 15 18.6 228.8 119.5 13.0 5.8 21 10 69 15 19.0 182.8 93.9 5.0 5.2 21 11 69 15 19.6 161.2 90.6 4.1 4.5 21 10 71 16 19.3 199.7 122.5 7.0 5.9 21 10 68 18 17.2 250.3 101.0 5.1 6.1 21 9 67 19 17.6 282.2 155.1 4.5 6.2 21 11 69 18 19.2 281.5 306.3 13.9 7.8 21 9 68 16 23.0 274.5 136.5 11.3 6.5 21 8 67 16 22.9 284.7 129.5 10.5 6.9 21 6 68 18 18.6 249.3 186.9 7.5 8.0 21 8 69 14 25.7 291.7 167.2 9.6 7.0 21 8 69 12 28.3 233.0 157.3 13.4 6.5 21 6 65 13 29.2 235.0 165.3 7.5 8.4 21 9 66 18 21.6 251.5 158.4 7.4 10.1 21 8 67 15 27.5 257.8 159.1 13.1 8.0 22 8 71 626 13.4 5,614.4 2,857.4 203.9 155.0 - - - * Based on the date of signature of the loan agreement.
Annual Report 2014 69
2014
2010
2005 2000
2014 2010 2005 2000 1995 1990 1985 1980 1975 1972
1995
0
0 50
(KD Million) 1990
1000
1500 1985
During the Period 1972 - 2014 the Period During
Growth in Arab Fund Resources in Arab Fund Growth
2000
2500 1980
3000
Capital
s Reserve
1975
Reserves Capital 3500
1972 (KD Million) (KD
0
Annual Report 2014 Report Annual
During the Period 1972 - 2014 - 1972 Period the During 500
1000 1500 2000 2500 3000 3500 Growth in Arab Fund Resources Fund Arab in Growth 70
70 Annual Report 2014 Loans, Disbursements, Repayments and Debt Owed to the Arab Fund During the Period 1974-2014 (KD Million)
2000
1800
1600
1400
1200
1000 Million KD 800
600
400
200
0 1974 - 1979 1980 - 1984 1985 - 1989 1990 - 1994 1995 - 1999 2000 - 2004 2005 - 2009 2010 - 2014
Loans Disbursements Repayments Debt Owed to the Arab Fund
Cumulative Loans, Disbursements, Repayments and Debt Owed to the Arab Fund During the Period 1974-2014 (KD Million)
9000
8000
7000
6000
5000
4000 Million KD
3000 x x 2000 x x 1000 x x x 0 x x 1974 1980 1985 1990 1995 2000 2005 2010 2014
Loans Disbursements Repayments x Debt Owed to the Arab Fund
Annual Report 2014 71 Annex 3
Summary of Loans Extended to Member States 1974 - 2014 (KD Million)
Effective No. of Loans Amount of Loans Loans and Disbursements
Beneficiary States Net Net Loans Effective Loans Effective Approved Approved Cancelled % Disbursements to % Net Loans Disbursements
Hashemite Kingdom 1 45 44 537.6 43.0 494.6 6.5 494.6 486.9 98.4 of Jordan
2 Republic of Tunisia 53 53 765.8 47.3 718.5 9.4 688.5 522.0 75.8
Algerian Democratic and 3 People’s Republic 26 25 395.3 112.5 282.8 3.7 282.8 282.8 100.0
4 Republic of Sudan 40 39 724.8 13.0 711.8 9.3 651.8 462.1 70.9
5 Republic of Iraq 10 9 59.7 10.6 49.1 0.6 36.4 19.6 53.7
Syrian Arab 6 51 50 697.0 39.5 657.5 8.6 597.5 467.1 78.2 Republic
7 State of Libya 9 8 175.7 33.2 142.5 1.9 142.5 132.9 93.2
Arab Republic of 8 55 54 1,225.7 89.6 1,136.1 14.9 1,136.1 862.0 75.9 Egypt
9 Republic of Yemen 103 101 887.9 20.6 867.3 11.4 849.0 534.7 63.0
10 Republic of Lebanon 27 26 457.0 36.3 420.7 5.5 321.7 239.5 74.4
11 Kingdom of Morocco 68 67 1,197.9 121.5 1,076.4 14.1 1,026.4 841.9 78.2
12 Kingdom of Bahrain 20 19 301.5 33.3 268.2 3.5 268.2 204.7 76.3
Somali Democratic 13 12 11 40.7 2.8 37.9 0.5 37.9 23.8 62.8 Republic
Islamic Republic of 14 54 54 460.7 4.7 456.0 6.0 426.0 312.9 73.5 Mauritania
15 Sultanate of Oman 26 25 371.5 164.5 207.0 2.7 193.0 158.0 81.9
16 Palestine 5 5 17.0 2.5 14.5 0.2 14.5 14.4 98.8
17 Republic of Djibouti 22 20 83.0 4.7 78.3 1.0 77.3 48.9 63.3
Total 626 610 8,398.7 779.4 7,619.3 100.0 7,294.4 5,614.4 77.0
72 Annual Report 2014 Annex 4
Sectoral Distribution of Loans Among Beneficiary Member States, 1974 - 2014 (KD Million)
Productive Infrastructure Sectors Sectors
Beneficiary States Sectors* Percentage Grand Total Mining Social Services Other Sectors** Transport Sewerage Electricity Water and Water and Rural Agriculture Energy and Industry and Development Telecommunications
1 Hashemite 36.6 6.0 283.9 8.8 121.4 22.5 58.0 0.5 537.7 6.4 Kingdom of Jordan
2 Republic of Tunisia 249.8 4.7 130.8 59.9 216.0 59.0 25.0 20.6 765.8 9.1
3 Algerian Democratic 45.0 7.8 147.0 30.0 77.3 10.0 70.0 8.2 395.3 4.7 and People’s Republic
4 Republic of Sudan 198.6 7.7 229.5 29.3 195.5 64.2 - - 724.8 8.6
5 Republic of Iraq - 5.0 8.5 - 8.0 18.8 - 19.4 59.7 0.7
6 Syrian Arab Republic 69.0 60.7 368.0 47.5 86.1 52.1 13.0 0.6 697.0 8.3
7 State of Libya - 12.5 127.2 - - 36.0 - - 175.7 2.1
Arab Republic of 8 132.0 755.4 101.0 121.9 83.4 32.0 1,225.7 14.6 Egypt - -
9 Republic of Yemen 296.9 8.9 208.9 112.6 63.3 35.3 116.1 46.0 887.9 10.6
10 Republic of 89.0 115.5 82.0 31.0 105.5 34.0 457.0 5.4 Lebanon - -
Kingdom of 11 561.0 4.0 85.5 107.3 397.5 9.0 33.0 0.6 1,197.9 14.3 Morocco
12 Kingdom of 50.5 6.0 84.0 66.0 25.0 70.0 301.5 3.6 Bahrain - -
13 Somali Democratic 16.5 2.9 6.8 5.0 9.5 40.7 0.5 Republic - - -
14 Islamic Republic of 88.8 11.1 155.8 155.9 10.3 19.3 4.5 15.0 460.7 5.5 Mauritania
15 Sultanate of Oman 178.5 3.0 22.0 45.0 3.0 6.0 40.0 74.0 371.5 4.4
16 Palestine 5.0 - - - 6.0 - 6.0 - 17.0 0.2
17 Republic of 14.5 5.9 22.0 17.0 1.9 0.7 21.0 83.0 1.0 Djibouti - Total 2,031.7 146.2 2,750.8 867.3 1,226.8 479.7 645.5 250.8 8,398.7 100.0 Percentage 24.2 1.7 32.8 10.3 14.6 5.7 7.7 3.0 100.0 * Include Education, Health, Housing and Social Development. * * Include Loan Commitments for Emergency Projects.
Annual Report 2014 73 Djibouti Palestine Others Oman rvices Social Se Mauritania Somalia
Industry & Mining
Bahrain
r we Po tric Elec & Energy hers Ot t elopmen Dev Rural & riculture Ag Sewerage & ter Wa elecommunications T t anspor Tr ices rv Se Social ning Mi & ry Indust
t
Djibouti Palestine Oman Mauritania Somalia Bahrain Morocco Lebanon Yemen Egypt Libya Syria Iraq Sudan Algeria Tunisia
Morocco Jordan 0 elopmen 0
Lebanon 200 200 riculture & Rural Dev Ag
Yemen 400 400 (KD Million)
Egypt 600 600 ter & Sewerage Wa
Libya 800 800 r we Sectoral Distribution of Loans Sectoral Distribution Po Syria
tric
1000 Iraq
Among Beneficiary Countries, 1974 - 2014 Countries, 1974 Among Beneficiary
Energy & Elec
1200
Sudan
1400
Algeria
(KD Million) (KD elecommunications Among Beneficiary Countries, 1974 - 2014 - 1974 Countries, Beneficiary Among
Tunisia t T Sectoral Distribution of Loans of Distribution Sectoral anspor Tr Jordan
Annual Report 2014 Report Annual 0 800 600 400 200 1400 1200 1000 74
74 Annual Report 2014 Annex 5 Page 1 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(1) Hashemite Kingdom of Jordan 1 Amman Northern Approach* 14/75 5,000 69 - 4,931 4,931 2 Electric Power Development I* 19/76 6,000 - - 6,000 6,000 3 Electric Power Development II* 43/77 5,900 - - 5,900 5,900 4 Aqaba Water* 47/79 2,100 129 - 1,971 1,971 5 Second Pan-Arab Telecommunications* 58/80 5,000 4,433 - 567 567 6 White Cement Industry (Jordan and Syria)* 78/82 5,000 - - 5,000 5,000 7 Potable Water to the Rural Areas* 82/82 700 - - 700 700 Electric Power Development III (Aqaba 8 92/82 5,000 - - 5,000 5,000 Power Station)* Fifth Pan-Arab Telecommunications 9 96/82 1,000 - - 1,000 1,000 (Inter-Arab)/(Earth Stations)* 10 Small Farmers Credit in the Jordan Valley* 108/83 2,500 - - 2,500 2,500 11 Zarqa-Al Mafraq-Syrian Border Road* 118/83 4,000 - - 4,000 4,000 12 Central Ghors Irrigation* 145/84 6,000 82 - 5,918 5,918 13 Mitigation of Earthquake Risks* 148/84 450 182 - 268 268 14 The Lower Zarqa River Basin* 165/85 5,000 - - 5,000 5,000 15 Zara-Ghor Haditha Road* 175/86 5,600 27 - 5,573 5,573 Ruwaishid Pilot Scheme in Hammad 16 184/86 1,500 4 - 1,496 1,496 Basin (Inter-Arab)* 17 Extension of Aqaba Thermal Power Station** 192/87 7,000 7,000 - - - 18 Shaidiya Phosphate Mines* 224/89 8,000 700 - 7,300 7,300 19 Jordan-Egypt Power Link* 233/89 10,500 - - 10,500 10,500 Supporting Operations of Jordan Electricity 20 239/90 8,000 - - 8,000 8,000 Authority and the Jordan Phosphate Mines Co.* Industrial Development Bank Operations 21 252/90 5,000 17 - 4,983 4,983 Program, 1990 - 1993* 22 Karameh Dam* 277/93 15,000 1,104 - 13,896 12,660 Second Agricultural Credit for Income 23 283/93 2,500 - - 2,500 2,025 Diversification* 24 King Abdallah Teaching Hospital* 285/93 10,000 399 - 9,601 8,449 Aqaba Power Station Phase II and 25 301/94 35,000 - - 35,000 28,000 Reinforcement of Internal Transmission Lines* Interconnection of Jordan and Syria 26 311/95 19,500 - - 19,500 14,875 Power Grids (Jordan)* 27 Aqaba Thermal Power Station (Phase III)* 320/95 26,000 - - 26,000 19,980 28 Hwarat-Abu Zeighan Irrigation Water Pipeline* 333/96 1,900 595 - 1,305 999 29 Infrastructure Development in the Poor Areas* 358/97 6,000 446 - 5,554 3,079 30 Integrated Development in the Southern Ghors* 359/97 34,000 11,395 - 22,605 14,701 Integrated Development in the Southern 31 365/98 12,000 356 - 11,644 7,094 Ghors (Phase II - Mujib Dam)* * Completed Project. ** Fully Cancelled Loan.
Annual Report 2014 75 Annex 5 Page 2 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(1) Hashemite Kingdom of Jordan 32 King Abdallah Teaching Hospital (Second Loan)* 371/98 15,000 29 - 14,971 9,511 33 Prince Hamza Hospital* 386/99 23,000 9,348 - 13,652 7,532 34 Al-Wehdah Dam* 394/2000 35,000 6,082 - 28,918 11,068 35 Education Reform - School Buildings* 444/2003 10,000 318 - 9,682 3,442 36 Amman Development Corridor (Section I)* 455/2003 12,000 1 - 11,999 1,119 37 Al-Samra Power Generating Station* 462/2004 21,000 - - 21,000 6,000 38 Amman Development Corridor - Phase I (Second Loan)* 499/2006 10,000 - - 10,000 - 39 Al-Samra Power Generating Station (Phase II)* 515/2007 20,000 - - 20,000 2,850 Comprehensive Development of Wadi 40 522/2007 6,000 - 373 4,929 510 Araba Region (Phase l)
41 Al-Samra Electric Power Generating Station (Phase lII)* 524/2007 30,000 - - 30,000 1,720 Al-Samra Electric Power Generating Station (Financing 42 542/2009 30,000 - - 30,000 810 Phase IV and Additional Financing for Phase III)* 43 Sanam Coated Glass Factory (P)* 12P/2010 4,500 323 - 4,177 418 44 Al-Samra Electric Power Generating Station (Phase V)* 567/2011 30,000 - 11,690 25,738 - 45 Al-Samra Electric Power Generating Station (Phase VI)* 587/2012 30,000 - 1,341 27,632 - Subtotal 537,650 43,039 13,404 486,910 243,449 (2) Republic of Tunisia 1 Tunis Sud Electric Power* 3/74 2,000 1 - 1,999 1,999 2 El-Borma Gas* 15/75 4,000 4 - 3,996 3,996 3 Development Credit* 34/77 7,000 - - 7,000 7,000 4 Water Supply for Industry in Gabes* 50/79 3,300 1,018 - 2,282 2,282 5 Ghardima Plain Irrigation* 57/80 3,500 478 - 3,022 3,022 6 Bizerte Fisheries Port* 64/81 3,800 649 - 3,151 3,151 7 Fourth Pan-Arab Telecommunications* 72/81 3,700 - - 3,700 3,700 8 Potable Water to Rural Areas* 83/82 600 88 - 512 512 9 Wadi Lubna for Irrigation and Agricultural Development* 91/82 3,500 1,628 - 1,872 1,872 10 Fifth Pan-Arab Telecommunications (Earth Stations)* 101/82 1,000 3 - 997 997 Water Supply for the Central and 11 115/83 4,000 1,489 - 2,511 2,511 Southern Coastal Areas* 12 Mornag Agriculture* 123/83 1,500 133 - 1,367 1,367 13 Burj Tomi, Mater and Sajnan Irrigation* 144/84 6,000 2,700 - 3,300 3,300 14 Mitigation of Earthquake Risks* 149/84 575 48 - 527 527 15 Integrated Rural Development (Phase I)* 166/85 14,000 - - 14,000 14,000 16 Northern Roads Development* 190/87 7,000 - - 7,000 7,000 17 Monastir Fishery Port* 195/87 1,300 72 - 1,228 1,228 18 Al-Qairawan Plain Irrigation* 207/88 5,500 2,079 - 3,421 3,421 19 Tunis Municipality Road Rehabilitation* 213/88 2,700 - - 2,700 2,700 * Completed Project. (P): Private Sector Project.
76 Annual Report 2014 Annex 5 Page 3 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(2) Republic of Tunisia Rehabilitation and Maintenance of the Phosphoric 20 Acid and Fertilizers Company’s Factories* 228/89 16,000 - - 16,000 16,000 21 Hammamat-Masaken Motorway* 242/90 20,000 - - 20,000 20,000 22 Tunisia-Libya Power Link* 243/90 17,800 - - 17,800 10,800 23 Maintenance of Flood-damaged Roads* 253/90 5,000 1,049 - 3,951 3,951 Sidi El-Barraq Dam Project for Potable 24 Water and Irrigation* 273/92 20,000 3,217 - 16,783 14,783 25 Integrated Rural Development (Phase II)* 293/94 21,000 372 - 20,628 17,553 26 Roads Development* 296/94 10,000 - - 10,000 8,265 27 University Buildings in Gafsa* 321/96 10,000 2,119 - 7,881 5,761 28 Al-Wakael Project (Phase III)* 328/96 5,000 254 - 4,746 3,549 Zarqa Dam and the Irrigation of Tbarqa 29 and Mekna Plains* 338/96 13,000 3,830 - 9,170 6,115 30 Hima, Abeed, Rumail and Al-Bark Dams for Irrigation* 348/97 22,000 6,497 - 15,503 10,368 Supporting the Vocational Training and 31 Employment Programs* 361/97 11,000 134 - 10,866 6,576 Improvement of the Roads Network and 32 Rural Roads* Development* 374/98 35,000 30 - 34,970 19,970 33 Tunis - Bizerte Motorway* 382/99 24,000 4,877 - 19,123 10,323 34 El-Kebir and El-Maoula Dams* 391/99 28,000 4,525 - 23,475 9,405 35 Development of the Industrial Parks* 402/2000 14,000 4,776 - 9,224 5,272 36 Tunis - Mejez El-Bab Motorway* 405/2000 25,000 1,885 - 23,115 10,860 37 Developmental Credit Lines* 413/2001 11,000 2,000 - 9,000 4,446 Construction of Six Dams in the North to 38 Supply Potable Water 428/2002 32,000 - 715 24,791 8,730 39 Modernization of the Transmission Network* 443/2003 30,000 - - 30,000 10,320 Sarrat Dam and Irrigation of Oulad Bou 40 Ghanem and Mahjouba Plains 459/2004 12,000 - 1,253 5,406 1,080 41 Al-Wakael Project (Phase IV) 464/2004 4,000 - 476 2,164 854 42 Regional and Rural Roads Network* 483/2005 16,000 125 - 15,875 2,709 43 Wadi Al-Kabir Dam in Gafsa Province 490/2006 3,000 - 303 608 170 Ghannouch Combined Cycle Power 44 Generating Station 494/2006 25,000 - - 24,938 2,130 45 Regional and Rural Roads Network (Phase II)* 518/2007 22,000 1,226 212 20,774 2,484 Ghannouch Combined Cycle Power 46 Generating Station (Supplementary Loan)* 543/2009 15,000 - - 15,000 1,290 Sousse Power Generating Station 47 (Second Expansion) 553/2010 37,000 - 2,217 25,754 - 48 Oued Zarga - Bousalem Motorway 561/2011 38,000 - 4,070 7,234 - Urgent Program to Support Small Private 49 Sector Projects 573/2011 15,000 - - 5,000 - 50 Integrated Development Program 574/2011 42,000 - 3,000 7,673 - 51 Mdhila 2 Triple Super Phosphate Fertilizer Production 592/2013 22,000 - - - - 52 Regional and Rural Roads Network (Phase III) 608/2014 40,000 - - - - 53 Upper Mellegue Dam 609/2014 30,000 - - - - Subtotal 765,775 47,305 12,246 522,040 278,350 * Completed Project.
Annual Report 2014 77 Annex 5 Page 4 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(3) Algerian Democratic and People’s Republic 1 New Arzew Port* 5/74 6,000 1,563 - 4,437 4,437 2 Telecommunications* 10A/75 300 52 - 248 248 3 Jijel Port* 42/77 12,000 6,760 - 5,240 5,240 4 Navigation Inspection Unit* 55/80 2,000 70 - 1,930 1,930 5 Fourth Pan-Arab Telecommunications* 71/81 4,500 153 - 4,347 4,347 6 Two Hospitals in Tihart State* 94/82 5,000 1,624 - 3,376 3,376 Fifth Pan-Arab Telecommunications 7 102/82 1,000 - - 1,000 1,000 (Earth Stations)* The Mitigation of Earthquake Risks 8 117/83 4,700 3,704 - 996 996 (First Loan)* 9 Agricultural Credit* 140/84 6,000 - - 6,000 6,000 10 Wadi Mina Irrigation* 167/85 6,500 1,364 - 5,136 5,136 11 Sharfa Dam* 183/86 10,800 2,042 - 8,758 8,758 Bani Haroun Dam for Municipal Water, 12 210/88 17,000 127 - 16,873 16,873 Electricity and Irrigation (First Loan)* 13 South Power Supply: Adrar Power Station* 261/91 21,000 1,028 - 19,972 19,972 14 Bashar-National Grid Power Link* 280/93 16,000 2,235 - 13,765 13,765 Bani Haroun Dam for Municipal Water, Electricity 15 298/94 6,000 - - 6,000 6,000 and Irrigation (Supplementary Loan)* 16 Power Generating Station in Hassi Massoud* 324/96 40,000 57 - 39,943 39,943 The Mitigation of Earthquake Risks 17 332/96 3,500 1,887 - 1,613 1,613 (Second Loan)* 18 Development of Small and Medium Industries* 339/97 10,000 1,012 - 8,988 8,988 Power Generating Station in Hassi 19 353/97 10,000 47 - 9,953 9,953 Massoud (Supplementary Loan)* 20 Al-Hama Power Generation Station* 377/98 30,000 1,476 - 28,524 28,524 21 Upgrading of the Electric Grid* 387/99 30,000 - - 30,000 30,000 Development of Social Housing in the 22 396/2000 35,000 12,190 - 22,810 22,810 Central Region* Pumping and Conveyance of Bani 23 415/2001 31,000 3,902 - 27,098 27,098 Haroun Water (First Stage)* Conveyance of Bani Haroun Water 24 424/2002 30,000 21,597 - 8,403 8,403 (Conveyor to Othmania Dam)* 25 Afroun- Husseinia Motorway* 426/2002 27,000 19,599 - 7,401 7,401 Housing Construction and 26 450/2003 30,000 30,000 - - - Reconstruction** Subtotal 395,300 112,487 - 282,813 282,813 (4) Republic of Sudan
1 Gadaref-Kassala Motorway (First Loan)* 6/74 8,000 - - 8,000 8,000
2 Telecommunications* 9/75 4,800 257 - 4,543 4,543 * Completed Project. ** Fully Cancelled Loan.
78 Annual Report 2014 Annex 5 Page 5 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(4) Republic of Sudan 3 Rahad Roads* 16/75 4,400 11 - 4,389 4,389 4 Sennar-Damazin Motorway* 31/76 11,000 986 - 10,014 10,014 5 Railways Development* 46/77 5,000 32 - 4,968 4,968 Gadaref-Kassala Motorway 6 51/79 5,200 - - 5,200 5,200 (Supplementary Loan)* 7 Nzara Rural Development** 65/81 2,500 2,500 - - - 8 Potable Water for the Rural Areas* 84/82 1,800 73 - 1,727 1,727 9 Fifth Pan-Arab Telecommunications (Earth Stations)* 100/82 1,300 223 - 1,077 1,077 10 Rehabilitation of Sugar Industry (First Loan)* 110/83 6,000 - - 6,000 6,000 11 Rehabilitation of Sugar Industry (Second Loan)* 111/83 7,500 - - 7,500 7,500 Rehabilitation of Gezira Agricultural 12 136/84 8,000 - - 8,000 8,000 Scheme (First Loan)* Rehabilitation of Gezira Agricultural 13 155/85 4,400 - - 4,400 4,400 Scheme (Second Loan)* Rehabilitation of Khartoum Water and 14 179/86 2,500 - - 2,500 2,500 Sewerage Facilities* 15 Rehabilitation of Telecommunications (Phase I)* 180/86 1,600 - - 1,600 1,600 Rehabilitation of the Sugar Industry 16 181/86 3,400 - - 3,400 2,090 (Third Loan)* Rehabilitation of Gezira Agricultural 17 182/86 9,600 - - 9,600 7,056 Scheme (Third Loan)* 18 National Power Grid* 198/87 8,500 - - 8,500 7,348 19 Port Sudan Water Supply* 206/87 10,000 5,000 - 5,000 3,040 20 Textiles Rehabilitation* 208/88 4,500 3,765 - 735 735 21 Paving of the Main Roads* 392/2000 23,000 - - 23,000 9,300 22 Roseires Dam* 393/2000 12,000 - - 12,000 4,875 23 Atbara - Haiya - Port Sudan Road* 410/2001 25,000 - - 25,000 6,075 24 Merowe Dam* 422/2002 46,000 - - 46,000 12,500 Generation and Transmission of 25 448/2003 30,000 - - 30,000 4,994 Electricity from Merowe Dam* 26 Gadaref-Doka-Gallabat Road* 457/2003 9,000 130 - 8,870 1,833 27 Merowe Dam Road* 474/2005 4,000 - - 1,534 930 28 White Nile Sugar* 476/2005 21,000 - - 21,000 2,720 29 Heightening of Roseires Dam (Phase II)* 521/2007 58,000 - 2,662 56,869 - 30 Merowe Dam (Supplementary Loan)* 528/2008 58,000 - 1,579 46,686 1,500 31 Al Salam Cement Factory (P)* 8P/2008 2,778 - - 2,778 2,778 32 White Nile Sugar (Supplementary Loan) 548/2010 30,000 - 329 27,501 - 33 Khartoum New International Airport 552/2010 50,000 - - - - 34 Upper Atbara and Setit Dams Complex 557/2010 50,000 - 24,136 40,129 - Electric Power Generating Station in the 35 Upper Atbara and Setit Dams Complex 566/2011 30,000 - 4,507 9,378 - 36 East Sudan Roads 578/2012 54,000 - 885 12,059 - 37 Water Harvesting in Border Provinces 582/2012 15,000 - 1,584 2,168 - 38 Loan Program for Industrial Development Projects 586/2012 10,000 - - - - * Completed Project. ** Fully Cancelled Loan. (P): Private Sector Project. Annual Report 2014 79 Annex 5 Page 6 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(4) Republic of Sudan Upper Atbara and Setit Dams Complex 39 591/2013 30,000 - - - - (Supplementary Loan) Nyala - El-Geneina Transmission Line to 40 599/2013 57,000 - - - - the Darfur States Subtotal 724,778 12,978 35,681 462,124 137,691 (5) Republic of Iraq 1 Deep Freeze Store* 107/83 10,000 1,700 - 7,259 3,032 Fifth Pan-Arab Telecommunications 2 (Earth Stations-Arabsat) 141/84 5,000 - - 4,373 - 3 Mitigation of Earthquake Risks 150/84 525 - - 503 63 4 Deep Freeze Store in Ninawa** 169/85 8,900 8,900 - - - 5 Agricultural Credit 200/87 8,000 - - 2,678 - 6 Industrial Credit 209/88 8,000 - - 3,726 - 7 Industrial Credit II 225/89 2,800 - - 283 - Abattoir and Meat Processing Unit 8 (Central Region) 226/89 3,800 - - 749 - 9 Abattoir and Meat Processing Unit-Basra 235/90 4,200 - - - - 10 Basra Power Grid 248/90 8,500 - - - - Subtotal 59,725 10,600 - 19,571 3,095 (6) Syrian Arab Republic 1 Fuel Storage Tanks* 2/74 2,000 - - 2,000 2,000 2 Cattle Breeding (Ghab)* 8/74 5,400 3,412 - 1,988 1,988 3 Damascus Water Supply (First Loan)* 26/76 12,000 - - 12,000 12,000 4 Banias Power Station* 45/77 6,000 - - 6,000 6,000 5 Second Pan-Arab Telecommunications* 60/80 2,700 918 - 1,782 1,782 6 Homs and Hama Sewerage* 61/81 5,000 4,354 - 646 646 7 Damascus Garbage Composting* 70/81 2,200 2 - 2,198 2,198 8 Tartous-Lattakia Motorway* 93/82 6,000 - - 6,000 6,000 Fifth Pan-Arab Telecommunications 9 95/82 1,000 - - 1,000 1,000 (Earth Stations)* 10 Damascus-Sanamein-Jordanian Border Road* 128/83 9,000 - - 9,000 9,000 Mehardeh Power Station Extension 11 146/84 6,500 239 - 6,261 6,261 (First Loan)* 12 Mitigation of Earthquake Risks* 151/84 575 11 - 564 564 Pesticides Arab Joint Venture (Syria- 13 154/84 1,900 1,900 - - - Jordan)** Mehardeh Power Station Extension 14 156/85 4,500 143 - 4,357 4,357 (Second Loan)* 15 Damascus Water Supply (Second Loan)* 164/85 3,000 361 - 2,639 2,639 Fifth Pan-Arab Telecommunications 16 172/86 1,000 - - 1,000 1,000 (Earth Stations) - (Supplementary Loan)* * Completed Project. ** Fully Cancelled Loan.
80 Annual Report 2014 Annex 5 Page 7 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(6) Syrian Arab Republic Tenf Pilot Scheme in Hammad Basin 17 185/86 1,700 - - 1,700 1,700 (Inter-Arab)* 18 Ghab and Asharneh Plains Irrigation* 193/87 15,000 995 - 14,005 14,005 Mehardeh Power Station Extension 19 194/87 2,500 - - 2,500 2,500 (Supplementary Loan)* 20 Hamah-Saraqeb Road and Ain Eissa-Qintari Road* 214/88 8,000 31 - 7,969 7,741 21 Homs and Hama Sewerage* 241/90 9,500 1,944 - 7,556 7,016 22 Aleppo Sewerage* 245/90 12,500 5,434 - 7,066 6,881 Rehabilitation of Phosphate Fertilizer 23 246/90 10,000 1,082 - 8,918 8,195 Plant in Homs* 24 Khaboor Irrigation (Phase I)* 250/90 15,000 1,281 - 13,719 12,549 25 Jourine Joint Water Supply* 260/91 5,500 1,598 - 3,902 3,314 26 Phosphate Fertilizers in Tadmur 265/92 30,000 - - - - 27 Medical Equipment in Hospitals* 271/92 13,000 23 - 12,977 9,477 Southern Region Agricultural 28 274/92 3,500 909 - 2,591 1,909 Development Project (Phase II)* 29 Tishrin Hydroelectric Dam* 279/93 36,000 3,054 - 32,946 24,576 30 Rehabilitation of Sulphuric Acid Plant in Homs* 287/93 6,000 739 - 5,261 5,261 31 Zeizoun Power Generating Station* 291/93 30,000 689 - 29,311 21,711 32 Agricultural Development in Jabal Al-Hoss* 307/95 2,500 832 - 1,668 744 Interconnection of Jordan and Syria 33 312/95 30,000 - - 28,223 17,290 Power Grids (Syria)* Syria-Turkey Power Grid Interconnection and 34 314/95 26,000 2,936 - 23,064 10,714 Reinforcing the Syrian Internal Network* Construction of 66 kV Substations in Six 35 319/95 15,500 - - 11,902 5,880 Governorates* Agricultural Development in the Coastal 36 327/96 17,500 6,559 - 10,941 3,741 and Central Areas* Modernization of the Communications 37 351/97 26,000 - - 21,950 11,840 System in Syria (1.650 million new lines)* 38 National Control Center for the Electric System* 366/98 10,000 - - 7,382 3,575 39 Integrated Development in the Badia* 368/98 20,000 - - 14,659 5,970 40 Lattakia - Ariha Motorway 379/98 30,000 - - 26,829 11,180 Modernization of the Communications 41 384/99 30,000 - - 30,000 10,260 System (Subscribers’ Networks)* The Expansion and Conversion to 42 409/2001 25,000 - - 9,293 2,860 Combined Cycle of Nasrieh Power Plant* Transformation Stations in the Industrial Cities 43 429/2002 9,000 - - 7,371 1,750 of Rif Dimashq, Homs and Aleppo Provinces* 44 Rural Development in Idlib Governorate 433/2002 5,500 - - 606 - Converting Zeizoun Power Station to 45 440/2003 22,000 - - 13,654 2,950 Combined Cycle*
* Completed Project.
Annual Report 2014 81 Annex 5 Page 8 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(6) Syrian Arab Republic 46 Power Generating Station in the South (Deir Aly)* 469/2004 30,000 - - 29,643 - Arab Gas Pipeline Project - Third Stage 47 (Aleppo - Kalas Section) 529/2008 10,000 - - 1,881 - 48 Expansion of Deir Ali Power Generating Station 536/2008 45,000 - - 20,169 - 49 Deir Al-Zor - Al-Boukamal Road 537/2008 16,000 - - 33 - Power Generating Station in the Eastern 50 Region (Deir Al-Zor) 493/2006 30,000 - - - - Power Generating Station in the Eastern 51 Region (Deir Al-Zor) - (Supplementary Loan) 565/2011 30,000 - - - - Subtotal 696,975 39,447 - 467,123 273,023 (7) State of Libya Two Fish Packaging Plants in Sabrata 1 240/90 11,000 1,867 - 9,133 9,133 and Zlaiten* 2 Libya-Tunisia Power Link * 244/90 2,200 784 - 1,416 787 Interconnection of the Libyan and 3 326/96 12,000 2,590 - 9,410 6,650 Egyptian Power Grids (Libya)* National Control Center for the Libyan 4 329/96 20,000 - - 20,000 5,139 Electrical System* 5 Submarine Fiber Optic Cable* 369/98 12,500 2,932 - 9,568 9,568 6 Development Credit** 385/99 25,000 25,000 - - - Converting North Benghazi Electrical 7 398/2000 25,000 - - 25,000 7,600 Power Plant to Combined Cycle* Conversion of Al-Zawya Power Station to 8 437/2002 28,000 - - 22,012 7,500 Combined Cycle* Electrical Inter-Connection at 400 kV 9 (Phase II) 458/2004 40,000 - - 36,336 8,050
Subtotal 175,700 33,173 - 132,875 54,427 (8) Arab Republic of Egypt 1 Talkha II Fertilizers (First Loan)* 4/74 6,500 - - 6,500 6,500 2 Tourah Cement Expansion* 11/75 6,700 - - 6,700 6,700 3 Cairo-Fustat Water Supply* 17/75 9,700 1,806 - 7,894 7,894 4 Cairo-Helwan Sewerage* 18/75 8,300 7,603 - 697 697 5 Talkha II Fertilizers (Supplementary Loan)* 24/76 2,700 6 - 2,694 2,694 6 Abu-Qir Power Station Extension* 28/76 12,000 3,041 - 8,959 8,959 7 Kafr El-Dawar Textiles* 30/76 10,000 - - 10,000 10,000 8 Suez Canal Development* 40/77 12,000 - - 12,000 12,000 9 Dumyat Power Station (Phase II)* 221/89 35,000 700 - 34,300 33,425 10 Idfu Wood Pulp Plant Extension* 229/89 7,500 632 - 6,868 6,180 11 Egypt-Jordan Power Link* 234/89 34,100 3,339 - 30,761 29,349 12 Soda Ash Plant (First Loan)* 238/90 7,000 - - 7,000 6,300 13 Ammonium Nitrate Unit* 247/90 8,000 - - 8,000 7,380 * Completed Project. ** Fully Cancelled Loan.
82 Annual Report 2014 Annex 5 Page 9 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(8) Arab Republic of Egypt 14 Kureimat Power Station* 254/91 36,250 3,585 - 32,665 28,765 15 Rubber Tires and Tubes Factory Extension* 255/91 10,500 - - 10,500 8,640 16 Social Development Fund (Phase I)* 256/91 14,400 11 - 14,389 11,799 17 Sewerage Projects in 46 Towns* 270/92 36,000 14,732 - 21,268 17,568 18 Sidi-Kreir Thermal Power Station* 272/92 44,000 6,363 - 37,637 25,833 19 Mitigation of Earthquake Risks* 275/92 2,000 1 - 1,999 1,559 20 Reconstruction of Earthquake- damaged Schools* 276/93 15,000 - - 15,000 10,950 21 Suez Transformers Station* 278/93 16,000 733 - 15,267 11,784 Rehabilitation of Phosphatic Fertilizers 22 284/93 4,000 242 - 3,758 3,631 Plant in Abu Zaabal* 23 Electric Insulations Plant* 286/93 4,500 484 - 4,016 4,016 24 Float Glass Plant* 292/94 15,000 384 - 14,616 14,616 25 Soda Ash Plant (Second Loan)* 295/94 4,000 82 - 3,918 3,918 26 Oyun Moussa Power Station* 309/95 39,000 8,600 - 30,400 19,648 27 Construction of a Special Steel Factory* 318/95 15,000 409 - 14,591 12,521 28 Social Development Fund (Phase II)* 346/97 21,000 - - 21,000 9,072 29 The Liver Diseases Center 362/98 3,000 - 152 191 - 30 Construction of a Flat Steel Plant* 372/98 17,000 79 - 16,921 16,921 Upgrading the Egyptian National Railroads 31 399/2000 16,000 - - 15,498 4,040 Authority’s Locomotives and Workshops* 32 Cairo North Power Generation Station* 407/2001 27,000 1,707 - 25,293 6,443 Water Supply for 240 Villages Deprived 33 of Potable Water - Phase I 420/2001 17,000 - - 13,110 4,980 34 Natural Gas Pipeline (Al-Arish - Aqaba)* 427/2002 17,000 4,224 - 12,776 12,776 35 Nubaria Power Station - Phase I* 434/2002 30,000 681 - 29,319 8,319 36 Nubaria Power Station - Phase II* 438/2003 30,000 104 - 29,896 6,796 37 Educational Buildings** 442/2003 30,000 30,000 - - - Water Supply for 240 Villages Deprived 38 of Potable Water - Phase II 432/2002 30,000 - - 27,459 8,052 Talkha Combined Cycle (750 M.W.) 39 461/2004 30,000 - - 29,486 6,160 Power Generation Station* Development of the Waterway Between 40 Cairo and Alexandria 472/2005 10,000 - 12 3,063 580 41 Expansion of West Cairo Power Generation Station* 484/2005 30,000 - - 30,000 2,310 42 Development of Hurghada International Airport 488/2006 35,000 - 1,673 32,760 - 43 Al-Atf Power Generating Station* 492/2006 30,000 - 499 30,000 1,540 Expansion of Abu Qir Power Generating 44 Station 1300 MW 513/2007 30,000 - 2,467 29,135 - Expansion of Abu Qir Power Generating 45 Station 1300 MW (Second Loan) 525/2007 30,000 - 2,467 29,135 - 46 El-Ain El-Sokhna Power Generating Station 539/2009 55,000 - 4,329 38,251 - * Completed Project. ** Fully Cancelled Loan.
Annual Report 2014 83 Annex 5 Page 10 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(8) Arab Republic of Egypt 47 South Gas Pipeline 530/2008 25,000 - - 20,847 - 48 Banha Power Generating Station* 554/2010 50,000 - 11,523 33,926 - Development of Hurghada International 49 559/2010 15,000 - 10,401 12,663 - Airport (Supplementary Loan) 50 South Helwan Power Generating Station 571/2011 55,000 - - - - Urgent Program to Support Small and 51 Medium Private Sector Projects and 572/2011 30,000 - 13,471 18,863 - Enterprises Modernization of the Signaling System 52 on the Benha - Zagazig - Ismailia - Port 583/2012 44,000 - - - - Said Corridor Electrical Interconnection Between the 53 Arab Republic of Egypt and the Kingdom 603/2013 45,000 - - - - of Saudi Arabia Assiut Power Generating Station 54 604/2013 55,000 - - - - (El-Walidia) 650 MW 55 Al Nouran Sugar (P) 14P/2014 3,500 - - - - Subtotal 1,225,650 89,547 46,995 861,988 401,316 (9) Republic of Yemen 1 Mukalla Multipurpose* 1/74 3,200 - - 3,200 3,200 2 Electric Power I* 7/74 4,000 - - 4,000 4,000 3 Aden Port Rehabilitation* 12/75 3,900 - - 3,900 3,900 4 Hodeida Water Supply and Sewerage* 13/75 6,000 727 - 5,273 5,273 5 Taiz-Aden Road* 22A/75 3,800 - - 3,800 3,800 6 Aden-Taiz Road* 22B/75 6,500 - - 6,500 6,500 7 Mukalla Multipurpose (Supplementary Loan)* 27/76 2,600 1,904 - 696 696 8 Electric Power II* 32/77 9,000 - - 9,000 9,000 9 Sana’a Water Supply* 37/77 5,000 91 - 4,909 4,909 10 Hadramaut Power* 48/79 4,000 - - 4,000 4,000 11 Wadi Tuban Agricultural Scheme* 53/80 1,900 25 - 1,875 1,875 12 Dhamar Water Supply and Sewerage* 56/80 3,000 7 - 2,993 2,993 Electric Power III (Dhamar-Taiz 13 62/81 4,700 - - 4,700 4,700 Transmission Network)* 14 Aden Water Supply (First Loan)* 63/81 3,500 - - 3,500 3,500 15 Third Pan-Arab Telecommunications* 68/81 1,400 - - 1,400 1,400 16 Third Pan-Arab Telecommunications* 69/81 1,300 - - 1,300 1,300 17 Electric Power IV (Al-Mokha Power Station)* 79/82 4,000 42 - 3,958 3,958 18 Potable Water to Rural Areas* 87/82 1,500 - - 1,500 1,500 19 Potable Water to Rural Areas* 88/82 700 80 - 620 620 20 Nashtoun Fisheries Port* 90/82 3,000 - - 3,000 3,000 Fifth Pan-Arab Telecommunications 21 97/82 1,200 - - 1,200 1,200 (Earth Stations)* * Completed Project. (P): Private Sector Project.
84 Annual Report 2014 Annex 5 Page 10 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(9) Republic of Yemen 22 Reconstruction of Flood-damaged Roads and Bridges* 109/83 1,000 - - 1,000 1,000 23 Strengthening of Taiz-Al Mafraq Road* 114/83 2,100 388 - 1,712 1,712 Electric Power III Development (Electrification 24 122/83 1,500 - - 1,500 1,500 of Five Towns East of Mukalla)* Fisheries Manpower Centre (FMDC) and 25 124/83 1,000 - - 1,000 1,000 the Fisheries Co-operatives (FDC)* Dhamar Water Supply and Sewerage 26 125/83 3,000 7 - 2,993 2,993 (Supplementary Loan)* 27 Rural Development in the Central Highlands* 126/83 3,000 236 - 2,764 2,764 28 Seiyoun Regional Water Supply* 127/83 2,000 - - 2,000 2,000 Seiyoun Regional Water Supply 29 131/84 3,700 61 - 3,639 3,639 Development (Phase II)* 30 Geological and Water Mapping of Northern Yemen* 132/84 1,200 151 - 1,049 1,049 31 Geological and Water Mapping of Southern Yemen* 133/84 1,200 211 - 989 989 32 Development of Health Institute* 138/84 1,100 246 - 854 854 33 Strengthening of Sana’a-Taiz Road* 147/84 5,600 247 - 5,353 5,353 34 Mitigation of Earthquake Risks* 152/84 600 1 - 599 599 35 Grain Silos** 157/85 8,000 8,000 - - - 36 Wadi Hajar Agriculture* 160/85 3,500 - - 3,500 3,500 37 Aden-Abyan Electrification Scheme* 161/85 5,900 237 - 5,663 5,663 38 Nisab-Beigan Road* 170/86 4,200 58 - 4,142 4,142 39 Electricity Distribution Network (First Loan)* 173/86 4,200 - - 4,200 4,200 40 Greater Aden Second Water Supply (Second Loan)* 174/86 2,000 221 - 1,779 1,779 41 Wadi Jawf Agricultural Development* 177/86 3,100 151 - 2,949 2,949 42 Aden Water Supply (Supplementary Loan)* 188/86 1,000 2 - 998 998 43 Laboos Water Supply* 189/87 4,000 58 - 3,942 3,942 44 Strengthening Sana’a-Hodeida Road* 199/87 6,800 - - 6,800 6,800 45 Lawder-Mukairas Road and Road Maintenance* 204/87 5,500 113 - 5,387 5,387 46 The FMDC and the FDC (Supplementary Loan)* 205/87 1,500 37 - 1,463 1,463 47 Zabid-Al Hodeida Road Rehabilitation* 211/88 2,500 - - 2,500 2,432 48 Northern Region Agricultural Development* 215/88 3,500 38 - 3,462 2,804 49 Yemen Power Link Taiz-Aden* 217/88 8,600 24 - 8,576 7,190 50 Yemen Power Link Aden-Taiz* 218/88 10,000 62 - 9,938 8,874 51 Al-Mukalla Water Supply* 220/88 2,850 20 - 2,830 2,750 Integrated Rural Development in the 52 222/89 3,500 254 - 3,246 2,180 Central Highlands* 53 Agricultural Credit* 230/89 5,500 8 - 5,492 4,707 Wadi Hadramaut Agricultural 54 232/89 3,300 3,300 - - - Development Project (Phase III)** 55 Hojja-Al Khashm Road* 236/90 3,000 570 - 2,430 2,155 56 Electricity Distribution Network (Second Loan)* 251/90 4,500 146 - 4,354 3,133 SEA-ME-WE II Submarine Cable Project 57 268/92 5,000 1,905 - 3,095 2,535 (Second Loan)* * Completed Project. ** Fully Cancelled Loan.
Annual Report 2014 85 Annex 5 Page 12 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(9) Republic of Yemen Rehabilitation of Flood-damaged Electricity, 58 288/93 2,500 23 - 2,477 1,817 Water and Sewerage Facilities in Aden* 59 Sana’a Sewerage Treatment Plant* 322/96 8,000 1 - 7,999 4,879 60 Social Development Fund* 350/97 6,000 - - 6,000 2,754 Wadi Hadramaut Agricultural 61 357/97 4,000 702 - 3,298 1,140 Development Project (Phase III)* 62 Sanitation Networks in Sana’a 383/99 18,000 - 330 14,512 8,804 63 Sayhut - Nashtoun Road* 403/2000 26,000 - 1,589 20,262 8,450 64 Sana’a International Airport Development 411/2001 28,000 - - 9,837 9,837 65 Social Development Fund - Phase II* 425/2002 15,000 - - 15,000 4,455 66 Grain Silos and Flour Mills at Saleef Port (P)* 2P/2002 3,000 - - 3,000 3,000 Ma’rib - Sana’a Transmission Lines at 400 k.V. 67 435/2002 30,000 - 854 27,584 5,840 and Upgrading the Electrical Grid* 68 Dhamar - Al-Husseiniya Road 445/2003 15,000 - 190 14,755 3,650 Construction of Ma’rib Gas-Turbine 69 447/2003 25,000 - - 24,531 5,490 Electrical Generating Station* 70 Major Intersections in Sana’a City 453/2003 15,000 - 303 14,574 4,015 Grain Silos and Flour Mills at Saleef Port 71 3P/2004 2,000 - - 2,000 2,000 (Supplementary Loan) (P)* 72 Completion of Sanitation Networks in Sana’a 463/2004 12,000 - 312 10,342 2,793 73 Five-Star Hotel in Sana’a (P)* 4P/2004 6,000 - - 6,000 3,436 74 Rural Access Roads 467/2004 26,000 - 357 21,145 3,350 Development of Local Communities 75 477/2005 15,000 - - 15,000 1,620 (Phase III)* 76 Aden Iron Factory in Lahaj Governorate (P)* 5P/2006 7,000 - - 7,000 3,680 77 Social Development Fund - Phase III* 480/2005 15,000 - - 15,000 1,620 78 Wastewater Facilities in Seiyoun and Tarim 482/2005 15,000 - 1,627 1,767 - Construction of a Second Ma’rib Gas- 79 Turbine Power Generating Station and 502/2006 30,000 - 17,856 25,677 - the Expansion of the Transmission Grid Agricultural and Fisheries Development 80 508/2007 12,000 - 211 561 325 in the Hadramout Coastal Area Aden Iron Factory in Lahaj Governorate 81 7P/2007 3,000 - - 3,000 1,320 (Supplementary Loan) (P)* 82 Sana’a International Airport Development (Phase II) 516/2007 47,000 - 1 1 - Development of the Coastal Road in 83 520/2007 10,000 - 653 1,987 - Aden Governorate Development of Water and Wastewater 84 526/2008 10,000 - 138 294 - Facilities in Aden Governorate 85 Glass Factory in Sana’a Governorate (P) 9P/2008 3,175 - 175 3,114 - 86 Taez International Airport Development 533/2008 7,000 - - - - 87 Major Intersections in Sana’a City (Phase II) 541/2009 8,000 - 75 6,896 195 88 Sugar Refinery in Aden (P) 10P/2009 8,250 - - - - * Completed Project. (P): Private Sector Project.
86 Annual Report 2014 Annex 5 Page 13 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(9) Republic of Yemen 89 Al Mukalla Iron and Steel Factory (P)* 11P/2009 4,800 256 - 4,544 - 90 Rural Roads Development (Phase III) 545/2009 15,000 - 2,237 2,873 - 91 Protection of Sana’a City from Floods 550/2010 7,000 - 2,045 4,667 - 92 Social Fund for Development (Phase IV) 560/2010 30,000 - 13,449 20,321 - 93 Major Intersections in Sana’a City (Phase III) 562/2011 10,000 - 2,818 3,281 - Dhamar - Al-Husseiniya Road 94 563/2011 12,000 - 2,722 3,927 - (Supplementary Loan) Construction of a Second Ma’rib Gas-Turbine 95 Power Generating Station and Expansion of 564/2011 43,000 - 26,645 27,988 - the Transmission Grid (Supplementary Loan) Construction of a 60 MW Wind Farm in , 96 the Al-Mokha Area 581/2012 18 000 - - - - 97 Sanitary Networks in Sana’a (Phase IV) 589/2013 15,000 - - - - 98 Reconstruction of Abyan 594/2013 10,000 - - - - 99 Educational Hospital for Aden University 596/2013 18,000 - - - - Rehabilitation and Expansion of Sana’a - 100 597/2013 30,000 - - - - Al Hudaydah Road 101 Expansion of Flour Mills at Saleef Port (P) 13P/2014 4,000 - - - - 102 Infrastructure Development in Sana’a City 606/2014 30,000 - - - - 103 Al Ghaydah Central Hospital 612/2014 6,000 - - - - Subtotal 887,875 20,612 74,586 534,736 260,827 (10) Republic of Lebanon 1 Electricity Network* 38/77 6,000 - - 6,000 6,000 2 Beirut Port* 39/77 5,000 - - 5,000 5,000 3 Rehabilitation of Electricity Installations* 263/91 22,000 3,157 - 18,843 17,815 4 Reconstruction and Shelter Rehabilitation* 282/93 8,000 - - 8,000 6,480 Rehabilitation of Electricity Installations 5 304/94 7,000 291 - 6,709 5,285 (Supplementary Loan)* 6 Zahrani Power Station* 305/94 30,500 - - 30,500 24,900 7 Saida and Sour Water Supply* 317/95 10,000 6 - 9,994 5,719 8 Technical and Vocational Schools 323/96 15,000 - 155 14,100 10,320 Administrative Rehabilitation of Public 9 325/96 6,000 5 - 5,995 3,931 and Independent Agencies* Rehabilitation of the Infrastructure and 10 331/96 13,500 - - 13,438 7,266 Buildings Damaged by the Israeli Aggression* 11 The Lebanese University Project (First Loan)* 355/97 23,000 - - 23,000 13,860 12 Syr El-Dania Jbab El-Homr / El-Hermel Road* 356/97 6,000 173 - 5,827 2,241 Beirut Southern Entrances: Khaldeh- 13 363/98 12,000 6,076 - 5,924 3,824 Cocodi and Awzaee Roads* Interconnecting the Lebanese and Syrian 14 400/2000 8,000 - 70 4,142 3,430 Electric Grids at 400 kV* Conveyance of Litani Water to Southern 15 Lebanon 418/2001 31,000 - 5,109 13,792 1,960 * Completed Project. (P): Private Sector Project.
Annual Report 2014 87 Annex 5 Page 14 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(10) Republic of Lebanon 16 Control Center for the Lebanese Power Network 423/2002 7,000 - 18 6,421 1,330 17 Infrastructure Upgrading in Beirut City 430/2002 17,000 - 125 9,438 6,370 18 The Lebanese University Project (Second Loan)* 439/2003 6,000 1,583 - 4,417 1,749 Development of the Road Network and 19 449/2003 30,000 - 660 22,220 6,020 Main Intersections 20 Administrative Rehabilitation 495/2006 9,000 - 438 2,110 - Development of Water and Wastewater 21 496/2006 25,000 - 2,598 6,547 - Facilities in some Areas in Lebanon Rehabilitation of Infrastructure Damaged 22 500/2006 30,000 - 1,541 14,393 - by the Aggression Rehabilitation of the Private Sector Enterprises 23 505/2006 25,000 25,000 - - - Damaged by the Israeli Aggression** Rehabilitation of Electric Power Installations 24 506/2006 35,000 - - - - Damaged by the Israeli Aggression Syr El-Dania Jbab El-Homr/ El-Hermel 25 527/2008 6,000 - 555 2,691 - Road (Second Loan) 26 Housing Project 585/2012 34,000 - - - - 27 Completion of Wastewater Facilities in Lebanon 600/2013 30,000 - - - - Subtotal 457,000 36,291 11,270 239,502 133,500 (11) Kingdom of Morocco 1 Telecommunications* 10B/75 3,000 802 - 2,198 2,198 2 Beni Amir Irrigation* 20/76 7,000 1,254 - 5,746 5,746 3 Agricultural Credit (First Loan)* 33/77 9,000 - - 9,000 9,000 4 Oujda Cement* 41/77 9,000 - - 9,000 9,000 5 Gharb Irrigation* 54/80 5,000 - - 5,000 5,000 6 Al-Houz Al-Awsat (First Loan)* 74/81 7,500 - - 7,500 7,500 7 Al-Houz Al-Awsat (Second Loan)* 76/82 7,500 - - 7,500 7,500 8 Potable Water to Rural Areas* 85/82 1,300 1,135 - 165 165 Fifth Pan-Arab Telecommunications 9 103/82 1,000 - - 1,000 1,000 (Earth Stations)* Agricultural Development in Loukkos 10 121/83 7,500 - - 7,500 7,500 Valley (First Loan)* 11 Agricultural Credit (Second Loan)* 134/84 8,000 - - 8,000 8,000 12 Mitigation of Earthquake Risks* 153/84 600 6 - 594 594 13 Ait Ayoub Dam for Irrigation and Electricity* 168/85 15,000 4,787 - 10,213 10,213 14 Lower Tassaout Irrigation* 176/86 5,000 - - 5,000 5,000 Aoulouz Dam and Agricultural 15 191/87 15,000 2,903 - 12,097 12,097 Development in Wadi Souss* Al-Mana’ Barrage and Irrigation of Lands 16 212/88 17,000 2,863 - 14,137 14,137 in Al-Gharb Plain* 17 Ismir Dam and Potable Water for Tatwan Area* 223/89 4,000 900 - 3,100 3,100 18 Agricultural Credit (Third Loan)* 231/89 12,000 - - 12,000 12,000 * Completed Project. ** Fully Cancelled Loan.
88 Annual Report 2014 Annex 5 Page 15 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(11) Kingdom of Morocco 19 Maja’ra Dam* 237/90 50,000 542 - 49,458 44,964 Rehabilitation of Flood-damaged 20 249/90 2,500 33 - 2,467 2,467 Infrastructure* 21 Upper Dokala Region Irrigation (Phase I)* 264/91 30,000 3,983 - 26,017 23,758 22 Rabat-Larache Motorway* 267/92 18,000 - - 18,000 16,995 23 Agricultural Credit (Fourth Loan)* 281/93 18,000 5,251 - 12,749 12,749 24 Seedi Al-Shahid Dam* 290/93 18,500 2,697 - 15,803 13,593 Strengthening Internal Power Grid for the 25 299/94 18,500 4,628 - 13,872 12,122 Morocco - Spain Interconnection* Loukkos Basin Agricultural Development 26 300/94 3,000 22 - 2,978 2,478 (Second Loan)*
27 Al-Gharb Plain Irrigation (Phase II)* 303/94 20,000 537 - 19,463 15,389 28 Rabat-Fes Motorway* 306/95 23,000 3,123 - 19,877 15,964 29 Maja’ra Dam (Second Loan)* 315/95 17,000 2,990 - 14,010 10,221 30 Combatting the Effects of the Drought* 316/95 10,000 - - 10,000 8,845 31 Potable Water for Meknes City** 330/96 7,000 7,000 - - - 32 Agadir and Tantan Fisheries Port* 335/96 13,000 1,095 - 11,905 8,908 Morocco-Spain Power Interconnection 33 337/96 7,000 3,428 - 3,572 2,682 (Supplementary Loan)* Dchar El Oued and Ait Massoud Dams 34 for Electricity, Irrigation and Drinking 344/97 15,000 5,886 - 9,114 5,874 Water* Dchar El Oued and Ait Massoud Dams: 35 345/97 15,000 8,796 - 6,204 4,014 Financing the Two Hydro-electric Stations* Casablanca-Settat Motorway 36 364/98 16,000 4,031 - 11,969 6,561 (Second Section)* 37 Development of Social Housing in Agadir City* 378/98 18,000 3,634 - 14,366 3,566 Ait Hamou Dam and Supplying Greater 38 380/99 17,000 8,966 - 8,034 4,704 Agadir City with Water* 39 Mohammed V Airport Development* 389/99 10,000 - - 9,377 3,240 Afourer Pumped Storage Hydro-Power 40 397/2000 25,000 2,736 - 22,264 11,464 Plant* 41 Casablanca - El-Jadida Motorway* 416/2001 15,000 3,099 - 11,901 5,501 Raising of Sidi Mohammed Bin Abdullah 42 421/2002 18,000 - - 8,149 6,180 Dam and Construction of Boukhamis Dam* 43 Rural Electrification 446/2003 20,000 - 92 19,689 6,270
44 Tetouan - Fenidiq Motorway* 451/2003 14,000 5,386 - 8,614 2,974 45 Settat - Marrakech Motorway (Phase I)* 452/2003 30,000 15,167 - 14,833 4,583 Tangier Mediterranean Harbour - 46 460/2004 35,000 5,378 - 29,622 7,652 Northern Highway Motorway* * Completed Project. ** Fully Cancelled Loan.
Annual Report 2014 89 Annex 5 Page 16 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(11) Kingdom of Morocco Werkan Dam to Supply Marrakech with 47 470/2004 7,000 - - 5,956 1,600 Potable Water* Tangier Mediterranean Harbour - 48 Northern Highway Motorway (Section 473/2005 20,000 2,921 - 17,079 4,391 Three)* 49 Marrakech - Agadir Motorway* 485/2005 29,000 262 - 28,738 5,778 Wadi Al-Raml Dam to Supply Tangier 50 486/2005 9,000 - - 9,000 1,960 Mediterranean Port with Water* 51 Marrakech - Agadir Motorway (Second Loan)* 491/2006 31,000 - - 31,000 5,340 Generalization and Integration of 52 Information Technology in Public School 498/2006 15,000 - - 4,772 2,460 Education* 53 Rural Roads 503/2006 15,000 - 13 14,322 1,720 54 Fes - Oujda Motorway* 512/2007 30,000 59 - 29,941 4,291 Water Supply for the Provinces of 55 Taounate, Chefchaouen, Sidi Kacem and 514/2007 15,000 - 406 8,426 1,215 Tanger Med Port 56 Wadi Martil Dam 517/2007 23,000 - 318 19,794 - Fes - Oujda Motorway (Taza - Oujda 57 534/2008 27,000 5,248 - 21,752 - Section)* 58 Expansion of Casablanca - Rabat Motorway* 538/2008 20,000 - - 20,000 - 59 Zerrar Dam* 540/2009 15,000 - 995 13,259 - Water Supply of Tangier & Tantan , , , 60 Regions 546/2009 20 000 - 5 089 10 496 - 61 Berrechid - Beni Mellal Motorway 549/2010 55,000 - 3,049 35,620 - 62 Dar Khrofa Dam 556/2010 12,000 - 2,458 8,850 - 63 Tangier Med II Port 558/2010 50,000 - 5,669 43,677 - 64 High-Speed Train Tangier - Casablanca 568/2011 30,000 - - - - 65 El Jadida - Safi Motorway 579/2012 30,000 - 2,202 5,195 - 66 Water Supply of Tetouan Area 584/2012 7,000 - - - - 67 Tangier Med II Port (Phase II) 602/2013 50,000 - - - - Irrigation of the Chtouka AÏt Baha Region , 68 with Desalinated Water 611/2014 50 000 - - - - Subtotal 1,197,900 121,546 20,290 841,937 412,225 (12) Kingdom of Bahrain 1 Bahrain Power* 44/77 5,000 - - 5,000 5,000 Sixth Pan-Arab Telecommunications, 2 113/83 3,000 - - 3,000 3,000 Submarine Gulf Cable (Bahrain-Qatar-UAE)* Seventh Pan-Arab Telecommunications, 3 Submarine Gulf Cable (Bahrain- 142/84 3,000 3,000 - - - Kuwait)** 4 Roads Development* 201/87 5,500 5,425 - 75 75 5 Roads Development (Second Loan)* 258/91 11,000 894 - 10,106 9,829 * Completed Project. ** Fully Cancelled Loan.
90 Annual Report 2014 Annex 5 Page 17 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(12) Kingdom of Bahrain Development of Suleimaniyah Medical 6 259/91 21,000 1,002 - 19,998 19,998 Center (First Loan)* Development of Suleimaniyah Medical 7 308/95 11,000 3,348 - 7,652 7,652 Center (Second Loan)* 8 The Housing Project (First Loan)* 334/96 15,000 580 - 14,420 10,570 Transfer and Distribution of Water from 9 349/97 21,000 1,450 - 19,550 12,998 Al-Hidd Desalination and Power Station* Interconnection of Al-Hidd Production 10 360/97 10,000 1,112 - 8,888 6,092 Facility to the Electric Grid* Production and Utilization of Treated 11 367/98 15,000 3,842 - 11,158 8,158 Sewerage Effluent* 12 Hidd Industrial Area * 370/98 25,000 - - 16,878 10,725 13 The Housing Project (Second Loan)* 381/99 20,000 - - 20,000 11,880 14 Bahrain Specialized Hospital (P)* 1P/2001 3,000 - - 3,000 3,000 Expansion of the Electric Generation 15 417/2001 25,000 - - 20,956 8,640 and Transmission Systems* 16 Khalifa Bin Salman Port * 465/2004 15,000 5,616 - 9,384 2,634 17 Upgrading the Electrical Transmission Network* 478/2005 14,000 7,000 - 7,000 1,900 18 Replacement of Sitra Causeway Bridge 504/2006 19,000 - - - - Upgrading 220 kV and 66 kV Electrical 19 544/2009 30,000 - 2,992 19,732 - Transmission Network* 20 Development of Water Supply Network 575/2011 30,000 - 5,464 7,936 - Subtotal 301,500 33,268 8,456 204,734 122,152 (13) Somali Democratic Republic 1 Inter-riverine Settlements*(1) 23/76 6,400 1,250 - 4,571 264 2 Hargeisa-Borama Road* 35/77 2,500 - - 2,098 235 3 Goluen-Gelib Road (First Loan)* 36/77 5,500 - - 5,500 362 4 Trypanosomiasis and Tsetse Control (Phase I)* 52/79 1,600 - - 1,258 - 5 Third Pan-Arab Telecommunications 66/81 1,700 - - 1,434 - 6 Mogadishu Water Supply II* 73/81 5,000 - - 3,015 - 7 Goluen-Gelib Road (Supplementary Loan)* 77/82 3,500 1 - 3,499 - 8 Mogadishu Electricity 80/82 2,000 - - 1,763 - 9 Fifth Pan-Arab Telecommunications (Earth Stations) 99/82 1,200 - - - - 10 Afgoi-Baidoa Road* 112/83 5,000 - - 682 - 11 Expansion of Gezira Power Station 137/84 4,800 - - - - 12 Fisheries Development in the North** 143/84 1,500 1,500 - - - Subtotal 40,700 2,751 - 23,821 861 (14) Islamic Republic of Mauritania 1 Nouadhibou Power Station* 21/76 5,200 - - 5,200 5,200 2 Nouakchott-Kiffa Motorway (First Loan)* 25/76 7,000 - - 7,000 7,000 3 Guelbs Iron Ore Production* 49/79 10,000 1 - 9,999 9,999 4 Boghi-Kehidi Road Maintenance* 75/81 1,500 - - 1,500 1,500 * Completed Project. (P): Private Sector Project. ** Fully Cancelled Loan. (1) The amount of the loan was reduced from KD 6.40 million to KD 5.15 million due to the change in the description of the project.
Annual Report 2014 91 Annex 5 Page 18 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(14) Islamic Republic of Mauritania Nouadhibou Power Station 5 81/82 200 - - 200 200 (Supplementary Loan)* 6 Potable Water to the Rural Areas* 86/82 400 12 - 388 388 Fifth Pan-Arab Telecommunications 7 104/82 1,200 77 - 1,123 1,123 (Earth Stations)* 8 Nouakchott Power (First Loan)* 105/82 3,000 - - 3,000 3,000 9 Nouakchott Power (Second Loan)* 106/83 2,300 - - 2,300 2,300 10 Telecommunications in Nouadhibou* 119/83 2,100 - - 2,100 2,100 11 Development Credit (First Loan)* 135/84 2,000 - - 2,000 2,000 12 Educational, Health and Veterinary Services* 139/84 4,500 2 - 4,498 2,930 13 Oases Development (Phase I)* 163/85 3,400 - - 3,400 2,156 14 Artisanal Fisheries Development in Nouadhibou* 178/86 3,200 425 - 2,775 1,365 15 Nouakchott Telephone/Telex Exchanges* 186/86 2,800 - - 2,800 2,800 16 Guelbs Iron Ore Production (Second Loan)* 202/87 1,300 - - 1,300 1,300 17 Development Credit (Second Loan)* 203/87 1,000 723 - 277 277 18 Wilayas Electricity Supply* 216/88 7,500 - - 7,500 1,424 19 Boghi-Kehidi Road (Second Loan)* 219/88 3,100 12 - 3,088 847 20 Domestic Satellite Network* 227/89 5,000 11 - 4,989 1,093 21 Mhaoudat Iron Ore Production* 269/92 6,000 - - 6,000 6,000 22 Nouakchott-Akjojot-Atar Road* 289/93 6,500 28 - 6,472 1,024 23 Oases Development (Phase II)* 297/94 2,400 - - 2,400 2,100 24 Nouadhibou Water Supply* 313/95 10,000 - 221 9,539 7,360 Expansion of the Nouakchott Power 25 336/96 4,600 63 - 4,537 3,907 Generating Station* 26 Potable Water for the Interior Cities 343/97 3,500 - 65 3,414 2,225 27 Alag-Maqtaa Lehjar Road * 347/97 3,500 1,460 - 2,040 2,040 Transmission of Electrical Energy from 28 352/97 8,000 - - 7,371 3,974 Manantali Dam to Mauritania* Rehabilitation and Construction of 33 Small 29 375/98 3,500 - - 3,327 1,652 Dams in the Area Adjacent to Achram* Connecting Boghe to the Manantali 30 408/2001 4,000 - 117 3,980 1,339 Electrical Grid* 31 Debt Reduction* 414/2001 14,000 - - 14,000 1,505 32 Nouakchott - Nouadhibou Road * 419/2001 16,000 - - 15,565 4,730 Nouakchott Water Supply from the 33 454/2003 30,000 - 56 29,932 5,390 Senegal River* Expansion of Nouadhibou Power 34 Generation Station 468/2004 7,000 - - 6,885 1,539 35 Nouadhibou Water Distribution Network 475/2005 4,000 - 119 3,748 686 36 Power Generation Stations for Interior Cities* 481/2005 2,000 1,911 - 89 89 37 Atar - Tidjikja Road 509/2007 11,000 - 2,870 7,191 810 Developing Water and Road Services in 38 Rural Areas 510/2007 13,000 - 294 12,894 335 Nouakchott Water Supply from the 39 511/2007 37,000 - 91 33,707 860 Senegal River (Supplementary Loan)* * Completed Project.
92 Annual Report 2014 Annex 5 Page 19 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(14) Islamic Republic of Mauritania Lease Financing of Small and Medium- 40 6P/2007 1,000 - - 1,000 1,000 Size Projects and Enterprises (P)* Drinking Water and Electricity Emergency 41 523/2007 15,000 - 879 14,219 760 Program for the City of Nouakchott* Rehabilitation of Al-Amal Road 42 531/2008 19,000 - 2,233 9,757 - (Sections II and IV) Drinking Water and Electricity Emergency 43 Program for the City of Nouakchott 535/2008 10,000 - 316 9,116 - (Supplementary Loan)* Electricity Emergency Program for the City of 44 547/2009 10,000 - - 9,757 - Nouakchott (Supplementary Loan)* 45 Water Distribution Network in Nouakchott 555/2010 10,000 - 1,376 5,116 - Upgrade of the Power Generation and 46 569/2011 30,000 - 10,859 15,322 - Transmission Systems in Nouakchott Supply of Drinking Water to the Region of 47 570/2011 8,000 - 144 242 - Aftout Elcharghi Water Supply of Eastern Cities and 48 580/2012 20,000 - 1,891 1,975 - Villages from Dhar Basin Development of Power Generating 49 588/2012 3,000 - 329 1,558 - Stations for Interior Cities Construction of a 30 MW Wind Farm in 50 590/2013 14,000 - 1,386 4,647 - Nouakchott 51 Néma - Mali Border Road (Section III) 593/2013 9,000 - 828 828 - 52 New Nouakchott International Airport 595/2013 9,000 - - - - Drinking Water and Development of 53 601/2013 20,000 - 864 864 - Oases in Rural Areas Construction of a Solar Power Station in 54 Nouakchott and the Modernization of the 610/2014 30,000 - - - - Electrical System Subtotal 460,700 4,725 24,937 312,932 98,327 (15) Sultanate of Oman 1 Gas Utilization* 29/76 6,000 1,517 - 4,483 4,483 2 Murayrat-Sohar Gas* 59/80 3,000 - - 3,000 3,000 3 Telecommunications* 120/83 3,000 - - 3,000 3,000 4 Sohar-Buraimi Power Station* 129/84 3,000 27 - 2,973 2,973 5 Fisheries Development* 162/85 3,000 1,706 - 1,294 1,294 6 Natural Gas Utilization (Phase IV)* 187/86 3,000 1,231 - 1,769 1,769 Water Desalination and Power for the 7 196/87 6,000 1,377 - 4,623 4,623 Capital Area* 8 Natural Gas Utilization (Stage 2 of Phase IV)* 257/91 7,000 203 - 6,797 6,797 9 Mina Qaboos Port Development* 266/92 6,000 1,860 - 4,140 4,140 Ghubrah Power Generation and Water 10 294/94 9,500 1,605 - 7,895 7,895 Desalination Station* * Completed Project. (P): Private Sector Project.
Annual Report 2014 93 Annex 5 Page 20 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(15) Sultanate of Oman 11 Industrial Estates in Rusayl and Nizwa* 302/94 6,000 1,249 - 4,751 4,751 Ghubrah Power Generation and Water 12 310/95 9,000 821 - 8,179 8,179 Desalination Station (Phase V)* 13 Salalah Port Development* 354/97 15,000 - - 15,000 15,000 14 Meserrat Water Conveyance System* 388/99 11,000 397 - 10,603 10,603 15 Rimal Ash-Sharqiyah Water Distribution System* 401/2000 9,500 2,479 - 7,021 7,021 16 Khassab Port Development Project* 431/2002 4,500 695 - 3,805 3,805 Nizwa-Thamrit Road Rehabilitation 17 441/2003 6,000 778 - 5,222 5,222 (Phase II)* 18 Expansion of Salalah Port (Phase II)* 466/2004 22,000 8,667 - 13,333 13,333 19 Al-Ashkhara - Al-Khuwaymah - Shanna Road* 479/2005 10,000 4,105 - 5,895 5,895 20 Muscat Southern Expressway* 487/2005 40,000 30,921 - 9,079 9,079 21 Dualization of Al-Amerat - Quriyat Road* 489/2006 20,000 17,175 - 2,825 2,825 22 Al Duqm Port** 501/2006 35,000 35,000 - - - Reconstruction of Basic Infrastructure and 23 519/2007 60,000 52,700 - 7,300 7,300 Facilities Damaged by Cyclone Gonu* 24 Dualization of Thumrait - Salalah Road* 507/2007 20,000 - - 20,000 1,080 Infrastructure Facilities for Sumail 25 576/2011 14,000 - - - - Industrial Estate 26 Housing Program 605/2013 40,000 - 5,000 5,000 - Subtotal 371,500 164,516 5,000 157,984 134,064 (16) Palestine 1 Wadi Far’a Irrigation* 158/85 3,000 2,154 - 846 846 Widening and Strengthening of Salah 2 340/97 5,000 - - 4,831 896 Eldin Road* 3 Development of Health Services* 341/97 3,000 1 - 2,999 381 4 Rehabilitation of the Education Services* 342/97 3,000 - - 3,000 457 5 The Rural Development Project* 376/98 3,000 300 - 2,700 - Subtotal 17,000 2,456 - 14,375 2,579 (17) Republic of Djibouti
1 Third Pan-Arab Telecommunications* 67/81 1,000 - - 1,000 1,000 2 Djibouti Port Development* 89/82 1,500 - - 1,500 1,500 Fifth Pan-Arab Telecommunications 3 98/82 1,100 251 - 849 849 (Earth Stations)* 4 Expansion of Boulaos Power Station - Phase I* 116/83 3,000 491 - 2,509 2,509 5 Animal Wealth Development* 130/84 1,900 10 - 1,890 1,890 Southwest Asia-Middle East-Western 6 Europe (SEA-ME-WE) Submarine Cable 159/85 1,900 2 - 1,898 1,898 (First Loan)* 7 Development Credit** 171/86 700 700 - - - * Completed Project. ** Fully Cancelled Loan.
94 Annual Report 2014 Annex 5 Page 21 of 21
Loans Extended to Beneficiary Member States 1974 - 2014
(KD 000)
Loan Amount Cancelled Disbursements Disbursements Repayments No. Country / Project No. of Loan Loans and During as at as at Balances 2014 31/12/2014 31/12/2014
(17) Republic of Djibouti 8 Telecommunications Development* 197/87 400 113 - 287 287 9 SEA-ME-WE II Submarine Cable* 262/91 1,500 - - 1,500 1,178 Modernization of Boulaos Power Station 10 373/98 3,000 1 - 2,999 1,479 - Phase II* Modernization of the Port of Djibouti 11 390/99 3,000 3,000 - - - (Phase IV)** 12 Social Housing* 395/2000 5,000 - - 4,842 2,196 13 Development of the Education Sector 412/2001 4,000 - - 3,693 1,033 Modernization of Boulaos Power Station 14 436/2002 3,000 83 - 2,917 929 - Phase III* 15 Social Housing (Phase II)* 456/2003 6,000 - - 6,000 1,015 Boulaos Power Generation Station 16 471/2004 4,000 - - 3,979 686 Project - (Fourth Phase)* 17 Construction of Djibouti University 497/2006 5,000 - 334 1,992 260 Rehabilitation of Drinking Water Facilities 18 in Djibouti City 532/2008 7,000 - 1,085 6,681 - Upgrade of the Power Generation and 19 Transmission Systems in the City of Djibouti 551/2010 9,000 - 37 37 - 20 Port of Tadjourah 577/2012 10,000 - 2,054 2,886 - Rehabilitation of the Distribution Networks of 21 Drinking Water in Djibouti City 598/2013 10,000 - 1,471 1,471 - Social Housing - Phase II 22 (Supplementary Loan) 607/2014 1,000 - - - -
Subtotal 83,000 4,652 4,981 48,929 18,707
Grand Total 8,398,728 779,391 257,847 5,614,393 2,857,408 * Completed Project. ** Fully Cancelled Loan.
Annual Report 2014 95 Annex 6 Page 1 of 3
Loans Extended to Finance Inter-Arab Projects 1974 - 2014
(KD 000)
Cancelled Disbursements Disbursements Repayments Loan Amount No. Project / Country Loans and During as at as at No. of Loan Balances 2014 31/12/2014 31/12/2014
1 First Pan-ArabTelecommunications: Algeria* 10A/75 300 52 - 248 248 Morocco* 10B/75 3,000 802 - 2,198 2,198 2 Aden-Taiz Road: Yemen* 22A/76 3,800 - - 3,800 3,800 Yemen* 22B/76 6,500 - - 6,500 6,500 3 Navigation Inspection Unit: Algeria* 55/80 2,000 70 - 1,930 1,930 4 Second Pan-Arab Telecommunications: Jordan* 58/80 5,000 4,433 - 567 567 Syria* 60/80 2,700 918 - 1,782 1,782 5 Third Pan-Arab Telecommunications: Somalia* 66/81 1,700 - - 1,434 - Djibouti* 67/81 1,000 - - 1,000 1,000 Yemen* 68/81 1,400 - - 1,400 1,400 Yemen* 69/81 1,300 - - 1,300 1,300 6 Fourth Pan-Arab Telecommunications: Algeria* 71/81 4,500 153 - 4,347 4,347 Tunisia* 72/81 3,700 - - 3,700 3,700 7 Inter-Arab White Cement Industry (Jordan-Syria): Jordan* 78/82 5,000 - - 5,000 5,000 8 Potable Water to Rural Areas: Jordan* 82/82 700 - - 700 700 Tunisia* 83/82 600 88 - 512 512 Sudan* 84/82 1,800 73 - 1,727 1,727 Morocco* 85/82 1,300 1,135 - 165 165 Mauritania* 86/82 400 12 - 388 388 Yemen* 87/82 1,500 - - 1,500 1,500 Yemen* 88/82 700 80 - 620 620 9 Tartous-Latakia Motorway: Syria* 93/82 6,000 - - 6,000 6,000 10 Fifth Pan-Arab Telecommunications Earth Stations: Syria* 95/82 1,000 - - 1,000 1,000 Jordan* 96/82 1,000 - - 1,000 1,000 Yemen* 97/82 1,200 - - 1,200 1,200 * Completed Project.
96 Annual Report 2014 Annex 6 Page 2 of 3
Loans Extended to Finance Inter-Arab Projects 1974 - 2014
(KD 000)
Cancelled Disbursements Disbursements Repayments Loan Amount No. Project / Country Loans and During as at as at No. of Loan Balances 2014 31/12/2014 31/12/2014
Djibouti* 98/82 1,100 251 - 849 849 Somalia 99/82 1,200 - - - - Sudan* 100/82 1,300 223 - 1,077 1,077 Tunisia* 101/82 1,000 3 - 997 997 Algeria* 102/82 1,000 - - 1,000 1,000 Morocco* 103/82 1,000 - - 1,000 1,000 Mauritania* 104/82 1,200 77 - 1,123 1,123 Syria* 172/86 1,000 - - 1,000 1,000 Sixth Pan-Arab Telecommunications, Submarine 11 Gulf Cable (Bahrain-Qatar-UAE):
Bahrain* 113/83 3,000 - - 3,000 3,000 12 Zarqa-Almafraq - Syrian Border Road: Jordan* 118/83 4,000 - - 4,000 4,000 13 Damascus-Sanamein-Jordan Border Road: Syria* 128/83 9,000 - - 9,000 9,000 14 Geological and Water Mapping of Yemen: Yemen* 132/84 1,200 151 - 1,049 1,049 Yemen* 133/84 1,200 211 - 989 989 Fifth Pan-Arab Telecommunications 15 Arabsat Earth Station: Iraq 141/84 5,000 - - 4,373 - Seventh Pan-Arab Telecommunications Submarine 16 Gulf Cable (Bahrain-Kuwait): Bahrain** 142/84 3,000 3,000 - - - 17 Mitigation of Earthquake Risks: Algeria* 117/83 4,700 3,704 - 996 996 Jordan* 148/84 450 182 - 268 268 Tunisia* 149/84 575 48 - 527 527 Iraq* 150/84 525 - - 503 63 Syria* 151/84 575 11 - 564 564 Yemen* 152/84 600 1 - 599 599 Morocco* 153/84 600 6 - 594 594 Algeria (Second Loan) 332/96 3,500 1,887 - 1,613 1,613 18 Pesticides Arab Joint Venture (Syria-Jordan): Syria** 154/84 1,900 1,900 - - - 19 Ruwaishid Pilot Scheme in Hammad Basin (Inter-Arab): Jordan* 184/86 1,500 4 - 1,496 1,496 * Completed Project. ** Fully Cancelled Loan.
Annual Report 2014 97 Annex 6 Page 3 of 3
Loans Extended to Finance Inter-Arab Projects 1974 - 2014
(KD 000)
Cancelled Disbursements Disbursements Repayments Loan Amount No. Project / Country Loans and During as at as at No. of Loan Balances 2014 31/12/2014 31/12/2014
20 Tenf Pilot Scheme in Hammad Basin (Inter-Arab): Syria* 185/86 1,700 - - 1,700 1,700 21 Hama-Saraqeb Road and Ain Eissa-Qintari Road: Syria* 214/88 8,000 31 - 7,969 7,741 22 Yemen Power Link: Yemen* 217/88 8,600 24 - 8,576 7,190 Yemen* 218/88 10,000 62 - 9,938 8,874 23 Jordan-Egypt Power Link: Jordan* 233/89 10,500 - - 10,500 10,500 Egypt* 234/89 34,100 3,339 - 30,761 29,349 24 Tunisia-Libya Power Link: Tunisia* 243/90 17,800 - - 17,800 10,800 Libya* 244/90 2,200 784 - 1,416 787 Strengthening Local Transmission Network within 25 Morocco-Spain Electric Power Link: Morocco* 299/94 18,500 4,628 - 13,872 12,122 Morocco (Supplementary 337/96 7,000 3,428 - 3,572 2,682 Loan)* 26 Interconnection of Jordan-Syria Electric Power Grids: Jordan* 311/95 19,500 - - 19,500 14,875 Syria 312/95 30,000 - - 28,223 17,290 27 Interconnection of Syria and Turkey Electric Power Grids: Syria* 314/95 26,000 2,936 - 23,064 10,714 28 Interconnection of the Libyan and Egyptian Power Grids: Libya* 326/96 12,000 2,590 - 9,410 6,650 29 Interconnection of the Lebanese and Syrian Electric Grids at 400 kV: Lebanon 400/2000 8,000 - 70 4,142 3,430 30 Natural Gas Pipeline (Al-Arish-Aqaba): Egypt* 427/2002 17,000 4,224 - 12,776 12,776 31 Arab Gas Pipeline Project - Third stage (Aleppo - Kalas Section): Syria 529/2008 10,000 - - 1,881 - Electrical Interconnection Between the Arab Republic of Egypt and the Kingdom of 32 Saudi Arabia: Egypt 603/2013 45,000 - - - - Total 394,125 41,520 70 291,736 237,869 * Completed Project. ** Fully Cancelled Loan.
98 Annual Report 2014 Annex 7
Grants Committed and Disbursed 1974 - 2014
(KD 000)
Total Disbursements No. Amount Net Percent Balance Beneficiary of Approved Amount of Total During Until of Balances Cancelled Cancelled Grants and Grants Approved (%) 2014 31/12/2014 Grants
A: National Grants
1 Hashemite Kingdom of Jordan 45 11,394 64 11,330 6.0 370 6,569 4,761
2 Republic of Tunisia 13 5,020 133 4,887 2.6 56 3,990 897 Algerian Democratic and 3 10 1,765 551 1,214 0.6 - 1,084 130 People’s Republic 4 Republic of Sudan 25 13,702 690 13,013 6.9 1,053 9,498 3,515
5 Republic of Iraq 5 820 163 657 0.3 - 657 -
6 Kingdom of Saudi Arabia 9 1,520 58 1,462 0.8 - 852 610
7 Syrian Arab Republic 16 3,820 907 2,913 1.5 - 2,068 845
8 State of Libya 3 625 300 325 0.2 - 45 280
9 Arab Republic of Egypt 47 16,285 426 15,859 8.4 2,399 13,180 2,779
10 Republic of Yemen 47 12,106 537 11,569 6.1 1,354 9,043 2,526
11 State of Kuwait 23 3,216 - 3,216 1.7 23 3,137 79
12 Republic of Lebanon 42 19,926 2,549 17,377 9.2 678 10,109 7,269
13 Kingdom of Morocco 25 5,510 254 5,256 2.8 - 4,212 1,044
14 United Arab Emirates 7 194 9 185 0.1 - 185 -
15 Kingdom of Bahrain 12 1,960 265 1,695 0.9 - 1,295 400
16 State of Qatar 1 50 14 36 0.02 - 36 -
17 Somali Democratic Republic 4 1,220 86 1,134 0.1 - 234 900
18 Islamic Republic of Mauritania 30 6,435 770 5,665 3.0 28 5,147 518
19 Sultanate of Oman 14 4,725 19 4,706 2.5 24 4,629 77
20 Palestine 173 28,545 1,068 27,477 14.6 15 27,394 83
21 Republic of Djibouti 7 1,150 30 1,120 0.6 - 1,108 12
22 Union of the Comoros 2 3,100 - 3,100 1.6 - - 3,100
Subtotal 560 143,088 8,892 134,197 70.9 6,000 104,474 29,723
B: Inter-Arab Grants 502 60,815 5,702 55,113 29.1 1,967 50,537 4,576
Grand Total 1062 203,903 14,594 189,310 100.0 7,967 155,010 34,299
C: Urgent Program to Support 127,278 - 127,278 10,220 102,938 24,340 Palestine*
* Support decided by the Arab Fund’s Board of Governors to the Palestinan people, over the period 2001 - 2014.
Annual Report 2014 99 Annex 8
Co-financing Activities of the Arab Fund 1974 - 2014
Total Amount Percentage Contributors (KD Million) (%)
1 - (A) National and Regional Development Institutions
Arab Fund for Economic and Social Development 3,734.0 31.2
Kuwait Fund for Arab Economic Development 1,196.4 10.0
Abu Dhabi Fund for Development 295.5 2.5
Saudi Fund for Development 542.7 4.5
Islamic Development Bank 893.2 7.5
OPEC Fund for International Development 108.5 0.9
Iraqi Fund for External Development 5.0 *
Libyan Foreign Bank 3.0 *
Subtotal 6,778.3 56.6
(B) Other Arab Sources 749.5 6.3
2 - International Financial Institutions
World Bank 759.5 6.3
International Fund for Agricultural Development (IFAD) 54.3 0.5
African Development Bank 664.3 5.5
Subtotal 1,478.1 12.3
Foreign Governments and their Development 3 - 2.962.4 24.8 Institutions
Grand Total 11,968.3 100.0
* Less than 0.1%.
100 Annual Report 2014
Contents
Page No.
Member States, Governors and Alternate Governors...... 3
Board of Directors...... 5
Basic Financial Data on the Arab Fund as at 31/12/2014 ...... 7
Overview of Arab Fund Activities...... 9
l First: The Lending Program...... 13
l Second: Grants ...... 19
l Third: Other Activities ...... 27
l Fourth: Financial Statements for the Financial Year Ended 31 December 2014 ...... 34
Annexes ...... 43
l Annex 1
Project Sheets for Loans Extended During the Year 2014...... 45 l Annex 2
Capital, Resources and Status of Loans and Grants, 1972 - 2014...... 68 l Annex 3
Summary of Loans Extended to Member States, 1974 - 2014...... 72 l Annex 4
Sectoral Distribution of Loans Among Beneficiary Member States, 1974 - 2014...... 73 l Annex 5
Loans Extended to Beneficiary Member States, 1974 - 2014...... 75 l Annex 6 Loans Extended to Finance Inter-Arab Projects, 1974 - 2014...... 96 l Annex 7 Grants Committed and Disbursed, 1974 - 2014...... 99 l Annex 8 Co-financing Activities of the Arab Fund, 1974 - 2014...... 100
Annual Report 2014 103