GCEL AND ARAB FUND FOR ECONOMIC & SOCIAL DEVELOPMENT DISCUSS DIGITIZING THE ARAB STATES AND THEIR TRADE PARTNERS
April 28, 2023
On November 14, 2022, a GCEL delegation held a Digital Economy briefing at the headquarters of the Arab Fund for Economic & Social Development (AFESD) in Kuwait to initiate discussions on deploying the Digital Economy Platform across the Arab States and their trade partners.
The delegation met with AFESD Chairman Mr. Bader M. Alsaad, who also serves as an independent director of BlackRock and a member of the Executive Committee of the Kuwait Investment Authority.
GCEL was represented by the Hon. Yves Leterme, former Prime Minister of Belgium and Chairman of GCEL’s European Advisory Board, Dr. Wissam Fattouh, Secretary General of the Union of Arab Banks and Member of GCEL’s MEA Advisory Board, and Mr. Gregory Bird, GCEL Deputy Secretary General.
AFESD is a pan-Arab development finance institution with USD 13.5 billion in assets under management and membership representing all 22 Arab League states. Its mission is to finance economic development projects through loans and grants that support regional growth and development.
According to GCEL’s HumaWealth Program, digitizing the Arab States and their trade partners could increase regional GDP by 37% and create more than 20 million jobs across manufacturing, agriculture, and service sectors by 2035.
