Annual Report 2012 Arab Fund for Economic & Social Development P. O. Box: 21923 Al-Safat 13080 Kuwait - Tel.: + 965 24959000 - Facsimile: +965 2481575070/60/ Email:
[email protected] - Internet Web Site: www.arabfund.org - Address: Arab Organizations Headquarters Building - Airport Road, Shuwaikh Kuwait - State of Kuwait
Annual Report 2012
Arab Fund for Economic & Social Development Annual Report 2012 Arab Fund for Economic & Social Development P.O. Box: 21923 - Safat 13080, Kuwait Telephone: +965 24 95 90 00 Facsimile: +965 24 81 57 50 / 60 / 70 Electronic Mail:
[email protected] Internet Web Site: www.arabfund.org Address: Arab Organizations Headquarters Building Airport Road, Shuwaikh Kuwait - State of Kuwait
Annual Report 2012
1
2
Annual Report 2012
Arab Fund For Economic & Social Development Member States, Governors and Alternate Governors Member States(1)
Governors(2)
Alternate Governors(2)
The Hashemite Kingdom of Jordan
H.E. Dr. Jafar Hassan
The Republic of Tunisia
H.E. Mr. Riadh Bettaieb
-
The Algerian Democratic and People’s Republic
H.E. Mr. Karim Djoudi
-
The Republic of Sudan
H.E. Mr. Ali Mahmoud Abdul-Rasool
-
The Republic of Iraq The Kingdom of Saudi Arabia The Syrian Arab Republic
H.E. Dr. Ibrahim Bin Abd-El-Aziz Al- Assaf -
H.E. Dr. Saleh A. Al-Kharabsheh
-
Libya
H.E. Dr. Al-Kilani Abdul Karim Al-Kilani
-
The Arab Republic of Egypt
H.E. Dr. Ashraf Al-Arabi
-
The Republic of Yemen
H.E. Dr. Mohammed Saeed Al-Saadi
The State of Kuwait
H.E. Mr. Mustafa Al-Shamali
The Republic of Lebanon
H.E. Mr. Nabil Adnan Al-Jisr
H.E. Mr. Alain Bifani
The Kingdom of Morocco
H.E. Mr. Nizar Baraka
H.E. Mr. Khalid Safir
United Arab Emirates
H.E. Mr. Obaid Humaid Al-Tayer
The Kingdom of Bahrain
H.E. Sheikh Ahmed Bin Mohammed Al-Khalifa
The State of Qatar
H.E. Mr. Yousef Hussain Kamal
The Somali Democratic Republic*
-
The Islamic Republic of Mauritania
H.E. Dr. Sidi Ould Bebbaha Ould Tah
Sultanate of Oman
H.E. Mr. Darwish Bin Ismaeel Bin Ali Al-Bulushi
Palestine
H.E. Dr. Nabil Hani Al-Qaddumi
The Republic of Djibouti
H.E. Mr. Ilyas Moussa Dawaleh
H.E. Dr. Mohamed Ahmed Ali Al-Hawri -
H.E. Mr. Yousif Abdulla Humood H.E. Mr. Ahmedo Ould Ely H.E. Dr. Ismail El-Zabri -
(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 31/12/2012. * Membership suspended pursuant to Board of Governors’ Resolution No. 3 of 1993, which has been extended annually by subsequent resolutions of the Board of Governors until 2012.
Annual Report 2012
3
4
Annual Report 2012
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 Redha Bin Jaffar Mr. Fouzi Lekjaa
Annual Report 2012
5
6
Annual Report 2012
Basic Financial Data on the Arab Fund as at 31/12/2012
(KD Million) Capital
2,000.0
Total Resources
2,808.6
Loans Number of Loan Agreements Signed During the Year Total Amount of Loan Agreements Signed During the Year Total Number of Loans
13 379.0 593
Cumulative Loan Agreements Signed
7,598.1
Cumulative Disbursements on Effective Loans
5,105.1
Cumulative Loan Repayments
2,539.9
Debt Owed to the Arab Fund
2,565.2
Grants Total Number of Grants
1,009
Cumulative Grant Commitments
183.4
Cumulative Grant Disbursements
137.0
Annual Report 2012
7
8
Annual Report 2012
Overview of Arab Fund Activities Introduction During 2012, 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, conducting studies and research, organizing seminars and conferences, as well as implementing emergency programs in some countries.
Public Sector The Arab Fund extended 13 loans to the public sector in 2012, in 9 Arab countries, for a total amount of about KD 379.0 million. These loans were used for the implementation of 13 projects, including one previously financed project and 12 new projects. The total cost of these projects was estimated at about KD 2.2 billion, with the loans provided by the Arab Fund covering about 17.5% of that amount. The share of loans provided to the transport and telecommunications sector represented about 32.7% of the total loan commitments during the year, and that of the energy and electric power sector about 27.2%. The water and sewerage sector accounted for about 17.1%, the social services sectors for about 11.1%, and the other sectors for about 11.9%, of the total amount of loans.
Private Sector The Arab Fund started to finance private sector projects in 2001. During the year, the Arab Fund contributed to the capital of a storage services company in Egypt with an amount of about KD 1.7 million.
Cumulative Loans Since the commencement of its activities in 1974 and until the end of 2012, the cumulative number of loans provided by the Arab Fund to the public and private sectors has reached 593 loans for a total amount of about KD 7.6 billion. These loans contributed to the financing of 499 projects in 17 Arab countries, and covered about 25.1% of the total cost of these projects. The infrastructure sectors received the majority of loans extended during that period, with a share of about 69.7% of the total amount of loans, followed by the productive sectors with about 20.0%, then the social services sectors with about 7.6%, and finally the other sectors with about 2.7%. The cumulative number of loans extended to the private sector reached 12 loans for a total amount of KD 48.3 million, covering about 16.2% of the total cost of these projects. The Arab Fund also contributed to the capital of 6 private companies with an amount equivalent to KD 25.2 million. Cumulative disbursements of loans extended by the Arab Fund over that period amounted to about KD 5.1 billion, representing about 78.7% of the net amount of effective loans.
Annual Report 2012
9
Grants The Arab Fund provided 26 national and inter-Arab grants in 2012, for a total amount of about KD 7.5 million. These grants included 12 national grants for a total amount of about KD 4.7 million, about 65.5% of which was allocated for the implementation of emergency programs, and about 34.5% for institutional support and training. The grants also included 14 inter-Arab grants for a total amount of about KD 2.8 million, about 89.1% of which was allocated for institutional support and training, and about 10.9% 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 2012, reached 1009 grants, for a total amount of about KD 183.4 million. They included 528 national grants amounting to about KD 127.2 million and 481 inter-Arab grants amounting to about KD 56.2 million. About 80.3% of the net amount of these grants was disbursed.
Support to Palestine The Arab Fund continued its contribution to the Urgent Program to Support the Palestinian People, in compliance with the decisions of the Arab Fund’s Board of Governors since 2001. During 2012, the Arab Fund allocated about KD 6.9 million to the tenth phase of the program. Thus, the total contribution of the Arab Fund to this program over the period 2001-2012 reached about KD 113.6 million.
Other Activities The Arab Fund continued to act as the Coordination Secretariat of the Coordination Group, which includes Arab national and regional development institutions, and organized the group’s periodic meetings. The Group also held several meetings with international and regional institutions, aimed at strengthening cooperation and coordination with these institutions in order to support development in the world in general, and in the Arab region in particular. The Arab Fund financed a study on integrated Arab electrical interconnection and use of natural gas, aimed at choosing the best mix of exporting electricity versus natural gas to be used in generating electricity, in order to identify the best strategy for each Arab country individually and for all Arab countries as a group. The first three stages of the study were completed by the end of 2012, and the last four stages are expected to be completed before the end of August 2013. The Arab Fund participated during the year in the preparation of the Joint Arab Economic Report. The Arab Fund also participated at the meeting of the Scientific Committee and the Donors’ Committee of the Research Initiative for Arab Development, financed by the Arab Fund in cooperation with the World Bank.
10
Annual Report 2012
Financial Statements According to the Arab Fund’s financial statements for the year ending 31/12/2012, total income was about KD 112.00 million compared to about KD 76.19 million in 2011, while total administrative expenses were about KD 8.38 million compared to about KD 7.39 million in 2011. Thus, the Arab Fund’s net profit for the year 2012 was about KD 103.62 million, compared to about KD 68.79 million for the year 2011. The statements also show that total member countries’ equity was about KD 2,808.63 million as at 31/12/2012, compared to about KD 2,717.20 million at the end of 2011.
Annual Report 2012
11
First: The Lending Program Preamble During 2012, the Arab Fund continued to support projects that receive 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 transport and telecommunications sector, the energy and electric power sector, and the water and sewerage sector, in order to improve the quality of infrastructure and services in the member countries. The Arab Fund also provided financing to emergency programs to support small and medium private sector projects, in addition to projects in the social services sectors.
Study and Appraisal of Projects In order to contribute to the financing of development projects in member countries, the Arab Fund continued to study the requests for project financing it received from these countries. These projects were then 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. During 2012, 15 projects were appraised; the total amount of loans expected to be provided for these projects is about KD 339.0 million.
Loan Agreements Signed During 2012 A total of 13 loan agreements were signed during the year, for a total amount of about KD 379.0 million. These loans contributed to the financing of 13 public sector projects in 9 Arab countries. The total cost of these projects was estimated at about KD 2.2 billion, with the loans provided by the Arab Fund covering about 17.5% of that amount.
Effective Loan Agreements A total of 13 loan agreements with 6 Arab countries, amounting to about KD 354.0 million, became effective in 2012. These loans were provided for the implementation of strategic projects in areas that included energy, transport, water and integrated development.
Public Sector Projects The Arab Fund extended 13 public sector loans during the year, amounting to KD 379.0 million, for the implementation of 12 new projects and 1 previously financed project. Table 1 shows the loan commitments by the Arab Fund during 2012, and Annex 1 provides the project sheets for these loans. Infrastructure sectors accounted for about 77.0% of the total amount of loans provided during 2012, in light of priorities of member countries’ plans and programs that focused
Annual Report 2012
13
on improving these sectors and providing an environment conducive to investment. Four loans were extended to finance transport projects, and amounted to KD 124.0 million or about 32.7% of the total. These projects aim at developing and improving land transport services in Morocco and Sudan, and developing maritime transport services through the construction of a new port in Tadjourah, Djibouti.
Three loans were extended to finance energy and electric power projects in three Arab countries, namely, Egypt, Yemen and Jordan. These loans, amounting to KD 103.0 million, represented about 27.2% of the total amount of loans provided during the year. The projects aim at satisfying the increasing demand for electricity in the beneficiary countries. Three loans were also allocated for water projects, and amounted to KD 65.0 million. The projects aim at satisfying the increasing demand for drinking water in Bahrain, Mauritania and Sudan. The loans provided by the Arab Fund during the year also included a loan in the amount of KD 42.0 million to finance the integrated development program in Tunisia, in addition to two loans for a total amount of KD 45.0 million to finance small and medium private sector projects in Tunisia and Egypt.
14
Annual Report 2012
Table 1 Loan Commitments During 2012 No.
Country
Project
Amount of Loan (KD Million)
Date of Signature of Loan Agreement
1
Republic of Tunisia
Urgent Program to Support Small Private Sector Projects
15.0
12/01/2012
2
Republic of Tunisia
Integrated Development Program
42.0
12/01/2012
3
Kingdom of Bahrain
Development of Water Supply Network
30.0
07/02/2012
4
Kingdom of Morocco
High-Speed Train Tangier – Casablanca
30.0
14/02/2012
5
Arab Republic of Egypt
South Helwan Power Generating Station
55.0
29/03/2012
6
Arab Republic of Egypt
Urgent Program to Support Small and Medium Private Sector Projects and Enterprises
30.0
29/03/2012
7
Republic of Djibouti
Port of Tadjourah
10.0
17/04/2012
8
Republic of Sudan
East Sudan Roads
54.0
17/04/2012
9
Kingdom of Morocco
El Jadida – Safi Motorway
30.0
17/04/2012
10
Islamic Republic of Mauritania
Water Supply to Eastern Cities and Villages from Dhar Basin
20.0
17/04/2012
11
Republic of Yemen
Construction of a 60 MW Wind Farm in the Al-Mokha Area
18.0
17/04/2012
12
Republic of Sudan
Water Harvesting in Border Provinces
15.0
17/04/2012
13
Hashemite Kingdom of Jordan
Al-Samra Electric Power Generating Station (Phase V)
30.0
12/06/2012
Total
379.0
Annual Report 2012
15
Private Sector Projects During 2012, the Arab Fund contributed to the capital of a storage services company in Egypt, with an amount of about KD 1.7 million. During the year, the Arab Fund also appraised a sugar project in Egypt, and agreed to evaluate three private sector projects: a social housing project in Morocco, a hospital in the United Arab Emirates and a glass factory in Egypt. Furthermore, several requests for financing private sector projects in areas including industry, energy, construction, agriculture and tourism, are currently under study.
Monitoring of Projects The Arab Fund continued to monitor the progress of ongoing projects, follow the implementation of the covenants set forth in their loan agreements, and take the necessary steps to ensure their proper implementation. During 2012, 11 projects were completed; their total cost amounted to about KD 1.1 billion, with the Arab Fund covering about 19.9% of that cost.
Cumulative Lending Activities Since the commencement of its operations in 1974 and until the end of 2012, the Arab Fund extended 593 loans, for a total amount of about KD 7.6 billion. These loans contributed to the financing of 499 projects in 17 Arab countries, and covered about 25.1% of the total cost of these projects. Annex 3 presents a summary of the loans extended to member countries over the period 1974-2012, while Annex 5 provides details on these loans. The cumulative amount of loans extended by the Arab Fund for infrastructure projects reached about KD 5.3 billion, or about 69.7% of the total amount of loans, of which about KD 2.5 billion was earmarked for energy and electric power projects, about KD 2.0 billion for transport and telecommunications projects, and about KD 0.8 billion for water and sewerage projects. Loans for productive sector projects amounted to about KD 1.5 billion, or about 20.0% of the total amount of loans, of which about KD 1.1 billion was earmarked for projects in agriculture and rural development, and about KD 0.4 billion for projects in industry and mining. Loans for projects in social services sectors amounted to about KD 0.6 billion, accounting for about 7.6% of the total, and were allocated to finance projects in education, healthcare, housing and social development. The remaining 2.7% of the total amount of loans, about KD 0.2 billion, was provided to finance projects in other activities. In addition to financing the main components of projects, the 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 2012 and over the period 1974-2012, while Annex 4 provides a summary of that distribution among beneficiary member countries over the same period.
Annual Report 2012
17
The cumulative lending activities of the Arab Fund also included 12 loans for private sector projects, for a total amount of KD 48.3 million, which contributed to 10 projects in Bahrain, Yemen, Mauritania, Sudan and Jordan. These loans covered various areas, such as health services, tourism, iron and steel production, glass manufacturing, glass coating, cement, grain silos and flour mills, sugar refining and lease financing. In addition to the loans extended to the private sector, the Arab Fund also contributed to the capital of 6 private companies in 4 Arab countries in the areas of healthcare, glass container manufacturing, iron and steel production, cement production, power generation and storage facilities.
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 2012, the Arab Fund extended 65 loans for a total amount of about KD 349.1 million. These loans contributed to the implementation of 31 inter-Arab projects in the areas of telecommunications, electric power, natural gas and international roads. Total disbursements of these loans reached about KD 291.7 million at the end of 2012, or about 94.8% of their net amount. Annex 6 provides details on the loans extended by the Arab Fund to finance inter-Arab projects over the period 1974-2012.
18
Annual Report 2012
Table 2 Loan Commitments by Sector (KD Million) 2012
Sector
1974 - 2012
Amount
%
Amount
%
Transport and Telecommunications
124.00
32.7
1,995.90
26.3
Energy and Electric Power
103.00
27.2
2,516.75
33.1
65.00
17.1
785.25
10.3
292.00
77.0
5,297.90
69.7
Industry and Mining
0.00
0.0
440.03
5.8
Agriculture and Rural Development
0.00
0.0
1,074.80
14.2
Subtotal
0.00
0.0
1,514.83
20.0
3. Social Services Sectors*
42.00
11.1
578.50
7.6
4. Other Sectors**
45.00
11.9
206.83
2.7
379.00
100.0
7,598.05
100.0
1. Infrastructure Sectors
Water and Sewerage Subtotal 2. Productive Sectors
Grand Total * Include Education, Health, Housing and Social Development. ** Include Loan Commitments for Emergency Projects.
Sectoral Distribution of Loan Commitments (Percentage) During 2012
During the Period 1974 - 2012 Social Services
%7.6
Other Sectors
%11.9
Social Services
Transport & Telecom
%32.7
Other Sectors
%2.7
Agriculture & Rural Dev.
Transport & Telecom
%26.3
%14.2
%11.1
Industry & Mining
%5.8
Water & Sewerage
%17.1
Energy & Electric Power
%27.2
Water & Sewerage
%10.3
Energy & Electric Power
%33.1
Annual Report 2012
19
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 2012, six projects were co-financed with other institutions. These projects included land and maritime transport projects, electric power generation and water projects. During the period 1974-2012, the total contribution of the Arab Fund to projects co-financed with Arab national, regional and international development institutions reached about KD 3.6 billion, representing about 32.0% of the total amount of co-financing of about KD 11.2 billion. Annex 8 provides details on co-financing activities over that period.
Disbursements and Repayments Total disbursements during 2012 amounted to about KD 235.0 million, of which about KD 0.5 million were disbursed to finance private sector projects. Cumulative disbursements of all loans over the period 1974-2012 amounted to about KD 5,105.1 million, including KD 39.3 million for private sector projects. Repayments of loans in 2012 amounted to about KD 165.3 million, of which about KD 1.8 million were from the private sector. Cumulative repayments over the period 1974-2012 totaled about KD 2,539.9 million, which represented about 49.8% of cumulative disbursements.
20
Annual Report 2012
Box 1 Integrated Rural Development The Arab Fund’s involvement in rural development, in light of the priorities and needs set by its member countries, is based on its interest in the development of the agricultural sector, including the development of agricultural productivity sources and the achievement of sustainable agricultural development. Rural development also aims at alleviating poverty and improving the standard of living of the population in these areas. In this context, the Arab Fund contributed to the financing of integrated rural development projects in five Arab countries, Tunisia, Sudan, Syria, Palestine and Yemen. These projects aimed at developing the poorest rural areas and improving the livelihoods of their inhabitants, by developing the human and natural resources available as well as improving medical and social services, constructing housing units, providing electricity and water, and developing the infrastructure needed to increase agriculture and livestock production, and raise the rural population’s income, thus contributing to a reduction in the difference between rural and urban standards of living, and decreasing the level of immigration to urban areas. The Arab Fund provided seven loans for integrated rural development projects to the Arab countries listed above, for a total amount of about KD 52.5 million. These loans contributed to the financing of 20% of the total cost of these projects which amounted to about KD 265 million. These projects resulted in the reclamation of around 66,000 hectares of agricultural land, and the implementation of around 3,500 projects which focused on rehabilitating, digging and lining wells, as well as establishing water storage tanks and distribution networks to improve the efficiency of irrigated and rain-fed agriculture. These projects also contributed to providing 75,000 people with drinking water, irrigation water for approximately 150,000 hectares of land, and replacing the old crop systems with modern ones, thus allowing for an increase in crop production. These projects also facilitated the establishment of rural agricultural extension centers, and the provision of loans for rural women to create income generating projects in the fields of livestock, poultry, food industry and crafts. The integrated development project in Tunisia, to which the Arab Fund contributed with two loans totaling around KD 35 million, is considered the leading project of this type in the Arab world. This project aimed at developing rural areas in order to make agricultural activities more attractive, through resettling the rural population, improving the economic and social conditions in these areas, and supporting the development of water resources. This project involved 215 projects with the basic elements of development, specifically potable water centers, rural roads, housing, medical and social centers, electrical connections, and more efficient water usage. This project was characterized by the successful integration between infrastructure and production elements. Some of its most important achievements included digging and preparation of 4,500 surface wells and 124 deep wells, providing sustainable irrigation to 5,000 hectares of land, planting 48,000 hectares of crop bearing trees, protecting about 60,000 hectares of agricultural land from drift and desertification, developing about 63,000 hectares of pasture land, constructing 1,700 km of rural roads, providing around 16,000 families with electricity, providing around 15,000 families with drinking water, providing around 7,000 families with housing, and providing loans to about 2,500 hunters and craftsmen to enable them to purchase modern equipment for their activities. This project had a significant impact on the rural communities of Tunisia, as it contributed to increasing the beneficiaries’ income by around 25%, improving the health and living conditions of the rural population, protecting the environment through increasing farmland and conserving water and soil, as well as alleviating poverty in the most disadvantaged areas.
Annual Report 2012
21
Second: Grants Grants During 2012
Many grant applications were reviewed during 2012, and priorities were determined in coordination with the concerned institutions in the member countries, subject to available resources. A total of 26 grants, amounting to about KD 7.5 million, were approved during the year. These grants included 12 national grants which amounted to about KD 4.7 million, and were provided to 9 Arab countries. The grants also included 14 inter-Arab grants which amounted to about KD 2.8 million, and were allocated to support activities of common interest to most Arab countries. Table 3 presents the national and inter-Arab grants approved during 2012. The Arab Fund continued to give priority to activities that reinforce institutional support and training, with 19 grants allocated to these activities for a total amount of about KD 4.1 million, representing about 54.5% of total grants provided during the year. These grants included 10 national grants for a total of about KD 1.6 million, and 9 inter-Arab grants for a total of about KD 2.5 million. The grants aimed at enhancing the performance of specialized institutions by improving the quality of services they provide, in addition to supporting the activities of research and education centers, contributing to the construction and development of several health centers and providing them with equipment to support their services, as well as controlling some animal diseases in Arab countries. The remaining national and inter-Arab grants provided by the Arab Fund during the year included 2 grants, for a total amount of about KD 3.1 million, allocated for the implementation of emergency programs. These grants, representing about 41.5% of the total amount of grants allocated during the year, were extended as a contribution to the operations aimed at alleviating some effects of the events and disturbances endured by Yemen, and to the construction of reservoirs and desert dams in Jordan. Grants were also allocated for the organization of five seminars and conferences that addressed development issues of concern to Arab countries. Table 4 shows the grant commitments by activity.
Cumulative Grants Since the beginning of its operations and until the end of 2012, the Arab Fund provided 1009 grants for a total amount of about KD 183.4 million. They included 528 national grants, amounting to about KD 127.2 million, which were allocated as follows: about KD 62.4 million for institutional support and training, about KD 16.3 million for feasibility studies and project preparation, about KD 5.0 million for general studies and research, and about KD 154 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 and data systems, undertaking population censuses, supporting the activities of several research centers, and preserving national heritage. Furthermore, national grants included 27 grants, for a total amount of about KD 43.3 million, which were allocated to support emergency programs to alleviate the effects of natural disasters, local disturbances, or damage
22
Annual Report 2012
caused by external aggression in some Arab countries. The grants provided over the same period also included 481 inter-Arab grants, amounting to about KD 56.2 million, which were allocated as follows: about KD 31.1 million to provide institutional support and training programs in several specialized scientific and research centers, about KD 12.5 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 4.3 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 1974-2012 amounted to about KD 137.0 million, which constitutes approximately 80.3% of the net amount of grants. Annex 7 provides a summary of the grants committed and disbursed over that period. During 2012, a total of 28 grants, amounting to about KD 7.1 million, were completed. This brought the total number of grants completed during the period 1974-2012 to 837, with a cumulative amount of about KD 123.6 million, while a total of 133 grants, amounting to about KD 53.3 million, remained under execution.
Support to Palestine The total amount of contributions made by the Arab Fund to Palestine, since the beginning of its operations and until the end of 2012, reached about KD 159.1 million, including about KD 142.1 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 2012, the Arab Fund allocated an amount of about KD 6.9 million, or about 10.0% of the Arab Fund’s net income for 2011, to contribute to the tenth 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 2001-2012 reached about KD 113.6 million. This program includes support to educational institutions (universities and colleges), and institutions and civil society entities concerned with social services and rural development. The program is being implemented at an acceptable pace despite the difficulties encountered from the Israeli occupation authorities. The Arab Fund made those contributions through cooperation and coordination with civil society entities and some governmental institutions. Areas of intervention under the program included support for basic and higher education, and training and qualifying graduates. The program enabled thousands of university students to continue their education through coverage of their tuition and fees, contributed to the construction of classrooms to meet the needs of basic education, and provided support to social institutions and civil society entities to allow them to provide the best
Annual Report 2012
23
services. Areas of intervention of the program also included social welfare homes, motherhood and childhood, handicapped and those with special needs, orphanages, in addition to the reactivation of the industrial and agricultural sectors through support to small enterprises, establishment of industrial zones for craftsmen, and support to small farmers. 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, birth and primary health care, in addition to the development of infrastructure such as water and electricity facilities, and delivery of drinking water to deprived areas. The support provided by the Arab Fund to Palestine contributed to the containment of the destructive impact of the occupation policies, and to the preservation of institutions and civil society entities, and enabled them to provide better services to the Palestinian community. The program also contributed to the perseverance of Palestinian residents and their presence in Palestine in the face of the expulsion campaigns, in addition to the improvement of their living and environmental conditions by providing them with suitable housing, and health, educational and cultural 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 297, amounting to about US Dollars 59.1 million. Disbursements of these grants amounted to about US Dollars 49.9 million, or about 84.4% 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 education services. The total committed amount is estimated at about KD. 27.8 million, including support to Jerusalem. Coordination between the Arab Fund and the Islamic Development Bank also took place regarding the selection of projects to be financed under the tenth phase of the urgent program.
24
Annual Report 2012
Annual Report 2012
25
No.
15/2012 16/2012
250 100 100
Morocco/ Contribution to the Information Program of the National Fund of Social Welfare Organizations (2) (2)
Saudi Arabia/ Contribution to the Expansion of the Elderly Women’s Section in Prince Salman Social Center (2)
Mauritania/ Contribution to the Project to Support the Capabilities of the Deposit and Development Fund
Yemen/ Contribution to Operations Aimed at Alleviating Some Effects of the Events and Disturbances Endured by the Country (5)
Lebanon/ Contribution to the Construction of a Treatment and Rehabilitation Center for Addicts in Sidon and the Surrounding Areas (2)
Kuwait/ Supporting the Activities of the Kuwait Public Relations Association (2)
4
5
6
7
8
9
(1) Feasibility Studies and Project Preparation (3) General Studies and Research (5) Emergency Programs
(2) Institutional Support and Training (4) Seminars and Conferences
4,746
24/2012
200
Egypt/ Contribution to the Acquisition of Medical Equipment for the National Cancer Institute (2)
12
Subtotal
23/2012
30
Sudan/ Contribution to the Construction and Equipping of the Administration Building of the Faculty of Administrative Sciences at the University of Dongola (2)
11
22/2012
300
Jordan/ Contribution to the Construction of Reservoirs and Desert Dams (5)
DG/21-2012
5
10
19/2012
17/2012
10/2012
300
2,811
12/2012
100
Egypt/ Financing the Completion of a Security System and the Establishment of a Communication Network for the Academy of the Arabic Language (2)
3
4/2012
50
Egypt/ Contribution to the Maintenance of the Egyptian Scientific Complex, and to the Restoration and Modernization of its Equipment and Furniture (2)
3/2012
2
No. of Grant
500
Amount Allocated (KD 000)
Kuwait/ Contribution to the Construction and Furnishing of Bayt Abdullah of Kuwait Association for the Care of Children in Hospital (2)
Beneficiary/Grant
1
A: National Grants
Table 3
Grants Approved During 2012
17/12/2012
17/12/2012
17/12/2012
16/08/2012
21/06/2012
21/06/2012
21/06/2012
21/06/2012
16/04/2012
16/04/2012
05/03/2012
05/03/2012
Date of Board Approval
26
Annual Report 2012
No.
Beneficiary/Grant
(2) Institutional Support and Training (4) Seminars and Conferences
7,497
Total
(1) Feasibility Studies and Project Preparation (3) General Studies and Research (5) Emergency Programs
220 2,751
Subtotal
26/2012
14
25/2012
200
Inter-Arab/ Supporting the Research Initiative for Arab Development (2)
ICARDA/ Supporting the Center’s Activities (2)
20/2012
13
18/2012
30 281
14/2012
100
Inter-Arab/ Contribution to a Joint Initiative for a Technical Assistance Mechanism to Support Infrastructure, Managed by the Islamic Development Bank, the International Finance Corporation, and other Financial Institutions (2)
(4)
13/2012
11/2012
50 500
9/2012
8/2012
300
100
7/2012
6/2012
20 50
5/2012
100
2/2012
500
12
Arab Thought Forum/ Supporting a Conference on “Arab Future in Light of the Youth Movement”
ERF/ Supporting ERF’s Nineteenth Annual Meeting (4)
10
11
ERF/ Supporting the Forum’ s Activities and Programs (2)
UNDL Foundation/ Contribution to the Improvement of the Universal Networking Digital Language Program and identifying Commercial Applications for it (2) Inter-Arab/ Supporting the Symposium “Reinvigorating the Developmental Role of SMES in Arab Countries” Organized by the Arab Fund and World Bank (4)
American University of Beirut/ Continuing the Support of the Implementation of the “Graduate Studies in Public Health” Program to Cover the Cost of 10 New Grants for the Years 2012-2013, and Continuing the Emphasis on Geographical Distribution of Candidates (2)
Arab Anti-Corruption Organization/ Contribution to the Activities and Programs of the Organization under its Five Year Plan 2012-2016 (2)
Gulf Research Center/ Supporting the Third Gulf Research Meeting (4)
Inter-Arab/ Supporting a Seminar on Education for Citizenship (4)
9
8
7
6
5
4
3
1/2012
No. of Grant
300
Amount Allocated (KD 000)
Grants Approved During 2012
B: Inter-Arab Grants Arab Planning Institute/ Contribution to the Institute’s Programs and Activities for the year 2011/2012, and 1 to the Restoration of its Buildings and to the Provision of Necessary Equipment (2) The Arab Organization for Agricultural Development/ Financing the National Program to Fight Cross2 Border Animal Diseases in the Arab Region (2)
Table 3 (continued)
17/12/2012
17/12/2012
21/06/2012
21/06/2012
16/04/2012
16/04/2012
16/04/2012
16/04/2012
16/04/2012
16/04/2012
16/04/2012
05/03/2012
05/03/2012
05/03/2012
Date of Board Approval
Annual Report 2012
27
Activity
4,746
-
100.0
65.5
-
-
34.5
%
-
2,751
100.0
-
10.9
300
-
-
89.1
%
-
2,451
-
Amount
Inter-Arab Grants
During 2012
-
100.0
41.5
3,111 7,497
4.0
-
54.5
%
300
-
4,086
-
Amount
Total
127,194
43,320
154
5,000
62,400
16,320
Amount
100.0
34.1
0.1
3.9
49.1
12.8
%
National Grants
56,220
2,000
4,274
12,471
31,095
6,380
Amount
100.0
3.6
7.6
22.2
55.3
11.3
%
Inter-Arab Grants
Total
183,414
45,320
4,428
17,471
93,495
22,700
Amount
During the Period 1974 - 2012
* Does not include an amount of about KD 113.6 million allocated by the Board of Governors of the Arab Fund to support the Palestinian people, over the period 2001 - 2012.
Total*
3,111
-
4. Seminars and Conferences
5. Emergency Programs
-
1,635
-
Amount
National Grants
3. General Studies and Research
2. Institutional Support and Training
1. Feasibility Studies and Project Preparation
Table 4
(KD 000)
Grant Commitments by Activity
100.0
24.7
2.4
9.5
51.0
12.4
%
Grant Commitments by Activity (Percentage)
Inter-Arab Grants during 2012
National Grants during 2012
Seminars & Conf.
Inst. Support & Training
10.9%
34.5%
Inst. Support & Training
Emergency Programs
89.1%
65.5%
Inter-Arab Grants during the Period 1974 - 2012
Emergency Programs
3.6% Seminars & Conf.
7.6%
General Studies & Research
22.2%
National Grants during the Period 1974 - 2012
Feasibility Studies & Project Prep.
Feasibility Studies & Project Prep.
12.8%
11.3%
Inst. Support & Training
49.1% Inst. Support & Training
55.3%
Emergency Programs
34.1%
Seminars & Conf.
0.1%
28
Annual Report 2012
General Studies & Research
3.9%
Box 2 Preparation of Studies on “Arab Integration” and “The Arab World in the Year 2025” by the Economic and Social Commission for Western Asia The Arab Fund extended a KD. 300 thousand grant as a contribution toward the preparation of two studies: the first on “Arab Integration” and the second on “The Arab World in the Year 2025”, in cooperation with the Economic and Social Commission for Western Asia (ESCWA). The first study, the report of which is expected to be issued before the end of the year 2013, will address the subject of Arab integration from the perspective of its relationship to economic and social development in the Arab region, and its impact on the development performance of the Arab countries. The second study aims at exploring the Arab future by analyzing a number of interrelated “scenarios”, which take into account the current situation in the Arab world and its future prospects, in order to assist decision-makers and civil society in the policy choice that would favor the “optimal scenario”. ESCWA has adopted a participatory approach in the preparation of the two reports. Qualified experts from across the Arab region have been called upon to form two teams, one for each study. Each team was composed of a large number of economists and intellectuals who have been selected in coordination with the Arab Fund for the purpose of the preparation of “background papers” for the two studies. For each study, a core team of five experts has also been appointed to write the report of the study based on the background papers and guided by an advisory board comprising thirty Arab specialists, whose role extends from the adoption of the outline of the study until the approval of the report in its final form. The importance of the two studies lies in their potential contribution to the policy discourse on how to accelerate the pace of economic growth and improve the welfare of the Arab citizens, as well as foreseeing the future of Arab countries. It is well known that the Arab region faces immense challenges amid a rapid and broad-based changing global environment in the form of high rates of unemployment - especially among young people -, low human development indicators, weak growth performance and low competitiveness. It is expected that the study on “Arab Integration” will not only analyze the causes of failure of previous Arab economic, social and cultural integration experiences, but will also highlight the areas, forms and stages of the desired integration in the light of the present global and regional contexts while taking into account the development challenges faced by Arab countries. The study will also delineate the institutional and procedural prerequisites needed to achieve the desired integration. The second study on “The Arab World in the Year 2025”, aims at analyzing scenarios for the potential future paths of the Arab region and the role of development strategies and scientific, technological and cultural policies in shaping this future. It is expected that this will help policymakers, civil society organizations and public opinion in the Arab countries realize the best possible scenarios and avoid scenarios that do not lead to the achievement of the legitimate aspirations of these countries.
Annual Report 2012
29
Third: Other Activities The Arab Fund continued to act as the Coordination Secretariat of the Coordination Group, which includes Arab national and regional development institutions, and organized the group’s periodic meetings. The seventieth and seventy-first periodic meetings of the Group took place during 2012. The Group also held several meetings with international and regional institutions, which included the World Bank, the International Finance Corporation, the European Investment Bank and the United Nations International Strategy for Disaster Reduction. The meetings aimed at strengthening cooperation and coordination with these institutions in order to support development in the world in general, and in the Arab region in particular. The Arab Fund continued to participate in meetings of the Deauville Initiative to support Arab countries, which includes nine international and regional financial institutions. It participated in the meeting held in Abu Dhabi, in the United Arab Emirates on February 9, 2012, and the meeting held in Paris, France on July 11, 2012. The Arab Fund financed a study on integrated Arab electrical interconnection and use of natural gas. The study aims at choosing the best mix of exporting electricity versus natural gas to be used in generating electricity, in order to identify the best strategy for each Arab country individually and for all Arab countries as a group for the optimum use of natural gas to meet the demand for electricity until the year 2030. The contract for the study was signed in February 2012 with the consortium of the consulting firms CESI and Ramboll. Periodic progress meetings are held at the headquarters of the General Secretariat of the League of Arab States, and attended by representatives of the Arab Fund, the steering committee of the study, the General Secretariat of the League of Arab States (Energy Department), the member states and the consulting firms. The first three stages of the study were completed by the end of 2012, and the last four stages are expected to be completed before the end of August 2013. The study of the Arab Railway Network Scheme, which the Arab Fund financed and followed up the implementation, was completed during the year. The study was one of the resolutions made at the Arab Economic and Social Development Summit held in Kuwait in January 2009. The Arab Fund signed a contract with the consortium Italferr/ Dar Al-Omran for the implementation of this study in November 2010. The final report of the study was presented at a workshop organized at the Arab Fund headquarters in Kuwait in October 2012. In addition to the members of the consortium, participants at this workshop included representatives of the Arab Fund, the Economic Sector of the General Secretariat of the League of Arab States and the member states. During the year, the Arab Fund formed the management body of the Special Account for Financing Small and Medium Private Sector Projects in Arab countries. A booklet about the Special Account and its policies and guidelines was prepared. A link to the Special Account has also been added to the Arab Fund’s website, to enable interested individuals and firms to learn about the Special Account and its activities. Technical
30
Annual Report 2012
teams visited several countries to study their credit markets and identify intermediate institutions through which the Special Account could operate. Those countries included Saudi Arabia, Djibouti, Egypt and Sudan. During the year, five loan agreements were signed with intermediate institutions in five Arab countries, namely, Mauritania, Tunisia, Jordan, Djibouti and Morocco, in addition to the loan agreement signed with the Arab Gulf Programme for Development (AGFUND). The Special Account was also presented in two meetings: the first was held in Rome, Italy on July 18, 2012 within the framework of the Deauville Initiative, and the second was held at the Arab Planning Institute in Kuwait during the period 6 - 7 November, 2012. During the year, the Arab Fund participated in the preparation of the Joint Arab Economic Report, which is published annually 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, and covers the main economic and social developments in Arab countries. The theme of this year’s report was “Opportunities and Challenges of Access to Financial and Banking Services and Financing in the Arab World”. The Arab Fund also participated at the meeting of the Scientific Committee and the Donors Committee of the Research Initiative for Arab Development, financed by the Arab Fund in cooperation with the World Bank. A joint symposium between the Arab Fund and the World Bank on “Reinvigorating the Developmental Role of SMEs in Arab Countries” also took place at the Arab Fund headquarters during the period 18 - 19 June, 2012. 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. 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 2012
31
Box 3 The Special Account to Finance Small and Medium Projects in Arab Countries The first Arab Economic and Social Development Summit, which was held in Kuwait in January 2009, endorsed the initiative of His Highness the Amir of Kuwait, to create a Special Account with a total amount of US Dollars 2 billion to finance small and medium private sector projects in Arab countries. Both Kuwait and Saudi Arabia contributed to this Account with an amount of US Dollars 500 million each, the Arab Fund contributed with an amount of US Dollars 100 million, while other Arab countries contributed with varying amounts. The Arab Fund was entrusted with the establishment and management of the Account. Thus, the Arab Fund established the general policies, rules and regulations for the operations of the Special Account, the standard loan agreement and work documents. By the end of 2012, an amount of US Dollars 595 million was deposited by member countries in the Special Account out of the pledged total amount of US Dollars 1,203 million. Within a short period of time, the Arab Fund was able to study credit markets in eleven Arab countries, and select and appraise qualified intermediate institutions in order to cooperate with them and provide them with funds to finance small and medium projects in their respective countries. This effort has resulted in the commencement of the operations of the Special Account by funding nine Arab financial institutions that have the expertise and knowledge in supporting and financing small and medium projects, through the provision of nine loans totaling US Dollars 245 million. In general, the Special Account provides financing to intermediate institutions with standard terms, that is, loans for a period of ten years with a three-year grace period, at an annual interest rate of 3% that would go down to 2% if a government guarantee is provided. Most Arab countries face high unemployment and poverty, as the average unemployment rate is more than 16%, and is particularly high among women and youth, reaching about 60% for youth in some countries. These rates are the highest among the different regions of the world. The data show that the sector of small and medium projects is the mainstay of economic and social life in Arab countries, for its great potential in providing job opportunities, economic diversification, and economic and social development. This sector represents about 90% of the total existing enterprises in these countries, employs two thirds of formal labor, and generates 60% of GDP. 90% of labor is employed by enterprises of 50 workers or less. However, this sector faces several constraints which include an inadequate investment climate and a weak financial infrastructure, as only about 20% of the projects get financing from banks, with this funding not exceeding 8% of the total bank loans, and these loans not exceeding 10% of the total investment costs of borrowing enterprises. In this context, it is expected that the Special Account will help overcome these constraints.
32
Annual Report 2012
Fourth: Financial Statements for the Financial Year Ended 31 December 2012 I. Financial Position Assets: The value of assets increased by KD 88 million (3%) compared to the previous year reaching KD 2,943 million, this increase was mainly in Loans and Cash & Cash equivalents as shown in the below schedule:
Assets Cash & Cash Equivalents Investments Loans Others Assets Total
2012
2011
KD Million
%
Variation
KD Million
%
KD Million
%
40
1%
22
1%
18
82%
341
12 %
345
12 %
(4)
(1) %
2,514
85 %
2,444
86 %
70
3%
48
2%
44
1 %
4
9%
2,943
100%
2,855
100 %
88
3%
Liabilities: The value of Liabilities decreased by KD 3.3 million (2%) compared to the previous year reaching KD 134.6 million, this decrease was mainly in Grants and Other Liabilities as shown in the below schedule: Liabilities
2012 KD Million
2011 %
KD Million
Variation %
KD Million
%
Special Account for Financing Small & Medium Enterprises
49.7
37%
48.4
35%
1.3
Grants
33.5
25%
36.5
26%
(3.0)
(8)%
Provision for Pension Fund
11.3
8%
10.8
8%
0.5
5%
Other Liabilities
40.1
30%
42.2
31%
(2.1)
(5)%
134.6
100%
137.9
100%
(3.3)
(2)%
Total
3%
Members’ Equity: The value of members’ equity increased by KD 92 million (3%) compared to the previous year reaching KD 2,809 million, this increase was translated by increase in the General & Additional Reserves as shown in the below schedule:
Annual Report 2012
33
Members' Equity Share Capital
2012 KD Million
2011 %
KD Million
Variation %
KD Million
%
2,000
71%
2,000
74%
0
0%
General Reserve
243
9%
232
8%
11
5%
Additional Reserve
561
20%
483
18%
78
16%
5
0%
2
0%
3
150%
2,809
100%
2,717
100%
92
3%
Other Reserves Total
II. Income & Expenditures Income: Total Income for the year amounted to KD 111.9 million compared to KD 76.2 million in 2011, this increase was mainly from Investment Income as shown in the below schedule: Income
2012
2011
Variation
KD Million
%
KD Million
%
KD Million
Interest Income from Loans
91.4
81%
90.7
119%
0.7
1%
(Loss)/Gain from Investments
20.0
18%
(14.8)
(19)%
34.8
235%
0.7
1%
0.3
0%
0.4
0%
(0.2)
0%
0.0
0%
(0.2)
0%
100%
76,2
100%
Income from Share in Associate Other Operating Income/Loss Total
111.9
35.7
%
47%
Expenditures: Total Administrative Expenses for the year amounted to KD 8.38 million compared to KD 7.39 million in 2011, this increase was in Staff Cost and Other Expenses as shown in the below schedule: Expenditures
KD Million
2011 %
KD Million
Variation %
KD Million
%
Staff Cost
6.04
72%
5.57
75%
0.47
8%
Other Expenses
2.34
28%
1.82
25%
0.52
28%
8.38
100%
7.39
100%
0.99
13.4%
Total
34
2012
Annual Report 2012
Net Profit: Total Net Profit for the year amounted to KD 103.62 million compared to KD 68.79 million in 2011, this increase was a result of above disclosures as shown in the below schedule: 2012
Net Profit Net Profit for the year
2011
Variation
KD Million
%
KD Million
%
KD Million
103.62
100%
68.79
100%
34.83
% 51%
III. Cash Flows Net cash flow used in Operating Activities during the year amounted KD (55.9) million compared to KD (13.3) million for year 2011 as shown in the below schedule: Cash Flows
KD Million 2012
2011
Variation
Loans Disbursement
(235.0)
(233.0)
(2.0)
Grants Disbursement
(8.4)
(6.5)
(1.9)
Loans Repayments
165.3
157.3
8.0
Interest & Fees Received
88.5
83.5
5.0
Net change in Investments
(57.1)
(0.8)
(56.3)
(9.2)
(13.8)
4.6
(55.9)
(13.3)
(42.6)
2012
2011
Variation
%
%
%
Income/Assets
3.8%
2.7%
1.1%
Income/ Equity
4.0%
2.8%
1.2%
Expenditures/ Income
7.5%
9.7%
(2.2)%
Loans/ Assets
85.4%
85.6%
(0.2)%
Loans/ Assets
89.5%
90.0%
(0.5)%
Other operating Cash Flows Net cash used in Operating Activities
IV. Financial Indicators of Arab Fund Performance Financial Ratios
Annual Report 2012
35
Arab Fund for Economic and Social Development Statement of Financial Position As at 31 December 2012 (KD 000) 2012
2011
Assets Cash and cash equivalents
40,255
22,325
290,796
295,413
50,328
49,125
2,513,957
2,444,256
7,369
7,714
Other assets
40,548
36,357
Total assets
2,943,253
2,855,190
Special account for financing small & medium enterprises
49,692
48,401
Grants
33,544
36,537
Provision for pension fund
11,280
10,830
Other liabilities
40,105
42,225
Total liabilities
134,621
137,993
2,000,000
2,000,000
General reserve
242,856
232,494
Additional reserve
561,275
483,303
6,641
3,742
(2,140)
(2,342)
Investments Investment in associate Loans Receivables from participants in the building
Liabilities and members’ equity
Liabilities
Members’ equity Share capital
Grants reserve Change in fair value reserve
36
Total members’ equity
2,808,632
2,717,197
Total liabilities and members’ equity
2,943,253
2,855,190
Annual Report 2012
Arab Fund for Economic and Social Development Statement of Comprehensive Income For the year ended 31 December 2012 (KD 000) 2012
2011
Income Interest income from loans
91,350
90,653
Net gains/(losses) from investments
19,669
(14,821)
Interest income from short term deposits and call accounts
284
69
Share in result of associate
718
302
Operating expenses
(25)
(18)
Net income
111,996
76,185
Administrative expenses Staff costs
6,040
5,570
Other expenses
2,339
1,823
Total administrative expenses
8,379
7,393
103,617
68,792
Net profit for the year Other comprehensive income/(losses) Net change in fair value for investments available for sale Net amount transferred to profits or losses
Other comprehensive income / (losses) for the year Total comprehensive income for the year
189
(294)
13
(68)
202
(362)
103,819
68,430
Annual Report 2012
37
Arab Fund for Economic and Social Development Statement of Changes in Members’ Equity For the year ended 31 December 2012 (KD 000) Share Capital Balance at 1 January 2012
Change in Additional Grants Retained Fair Value Reserve Reserve Earnings Reserve
2,000,000
232,494
483,303
3,742
Other comprehensive income for the year
0
0
0
0
0
0
0
Total comprehensive income for the year
0
0
0
Transferred to support people of Palestine
0
0
2,717,197
0
103,617
103,617
0
202
0
202
0
202
103,617
103,819
0
0
0
Transferred to Arab Academic Fellowship
0
0
0
0
(142)
Transferred to grants reserve
0
0
8,272
0
(5,181)
0
Transferred to general reserve
0
10,362
0
0
0
(10,362)
0
Transferred to additional reserve
0
0
87,932
0
0
(87,932)
0
Grants approved
0
0
0
(7,496)
0
0
(7,496)
Grants cancelled and transferred
0
0
10
2,123
0
0
2,133
Balance at 31 December 2012
2,000,000
242,856
561,275
6,641
(2,140)
0
2,808,632
Balance at 1 January 2011
2,000,000
225,615
441,315
4,757
(1,980)
0
2,669,707
Profit for the year
0
0
0
0
68,792
68,792
Total other losses for the year
0
0
0
0
(362)
0
Total (Losses) / comprehensive income for the year
0
0
0
0
(362)
68,792
Transferred to support people of Palestine
0
0
(8,925)
0
0
Transferred to grants reserve
0
0
(7,560)
11,000
0
(3,440)
0
Transferred to general reserve
0
6,879
0
0
0
(6,879)
0
Transferred to additional reserve
0
0
58,473
0
0
(58,473)
0
Grants approved
0
0
0
(13,429)
0
0
(13,429)
Grants cancelled and transferred
0
0
0
1,414
0
0
1,414
2,000,000
232,494
483,303
3,742
0
2,717,197
Balance at 31 December 2011
Annual Report 2012
(6,879) 0 (3,091)
(2,342)
Total
0
Profit for the year
38
General Reserve
0
(2,342)
0
(6,879) (142)
(362) 68,430 (8,925)
Arab Fund for Economic and Social Development Statement of Cash flows For the year ended 31 December 2012 (KD 000) 2012
2011
103,617
68,792
Interest income from loans
(91,350)
(90,653)
Unrealized (Profits)/Losses from investments
(12,572)
18,739
Operating Activities Profit for the year Adjustments:
Interest income from term deposits and call accounts
(284)
(69)
Share in results of associate
(718)
(302)
Provision for pension fund
1,585
278
1,555 (1,938)
Changes in operating assets and liabilities: Net change in trading investments Disbursements of loans Loans repayments Disbursements of grants
(57,065)
(816)
(235,027)
(233,009)
165,326
157,343
(8,356)
(6,481)
Receivables from participants in the building
345
346
Other assets
188
96
1,291
6,379
(8,999)
(16,037)
(142,019)
(94,117)
Interests received
87,255
82,816
Provision for pensions and employees’ end of service indemnity paid
(1,135)
(1,992)
(55,899)
(13,293)
73,829
(1,254)
Special account for financing small and medium enterprises Other liabilities Cash flows used in operations
Net cash flows used in operating activities Investing activities Net changes in other investments Dividends received from associate
0
299
Net cash flows from / (used in) investing activities
73,829
(955)
Increase / (decrease) in cash and cash equivalents
17,930
(14,248)
Cash and cash equivalents at the beginning of the year
22,325
36,573
Cash and cash equivalents at the end of the year
40,255
22,325
Annual Report 2012
39
Arab Fund for Economic and Social Development Independent Arab Regional Financial Organization - Kuwait Significant Accounting Policies a) Statement of compliance The financial statements are prepared in accordance with International Financial Reporting Standards (“IFRS’s”) promulgated by the International Accounting Standards Board (“IASB”) and based on the interpretations issued by the International Financial Reporting Interpretations’ Committee of the IASB.
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 financial statements have been presented in Kuwaiti Dinars which is the functional and reporting currency of the Fund. All values are rounded to the nearest thousands (KD 000’), except when otherwise indicated.
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 profit or 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 Loans are recognized at amortized cost less the impairment provision. The impairment provision is estimated when the full collections of loans is no longer probable. The amount of provision is determined as the difference between the carrying amount and the recoverable amount of the asset. The recoverable amount is calculated on the basis of the present value of the expected future cash flows, discounted at the loan’s original effective interest rate. Short-term balances are not discounted.
40
Annual Report 2012
e) Impairment An assessment is made by the Fund at each reporting date to determine whether 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 associate is an entity in which the Fund has significant influence, but not control, over the financial and operating policies. 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 The Fund has a defined end of service benefit plan (pension plan) which covers all its employees. 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 using the effective interest rate (EIR), which is the rate that exactly discounts the estimated future cash receipts through the expected life of the financial asset or a shorter period where appropriate, to the net carrying amount of the financial asset. 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 and call accounts 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.
Annual Report 2012
41
ANNEXES
Annual Report 2012
43
Annex 1 Project Sheets for Loans Extended During the Year 2012
Annual Report 2012
45
Annex 1
Project 1 of 13
Republic of Tunisia Urgent Program to Support Small Private Sector Projects Loan No.:
Project Cost:
573 Interest Rate: Banque Tunisienne de Solidarité Grace Period: (BTS) KD 109.0 million Maturity:
Amount of Loan:
KD 15.0 million
Date of Loan Agreement:
12/01/2012
Date of Effectiveness:
17/12/2012
Beneficiary:
3.0% 5 years 22 years
Repayment:
35 semi-annual installments
First Installment:
5 years following the first disbursement
Objectives: The program aims at creating new jobs for qualified people, and holders of higher education degrees and vocational training certificates, who lack the financial resources and bank guarantees required for investment and creation of small projects in various sectors of the economy and regions. The program also aims at increasing BTS’ resources, thus enabling it to better contribute to the country’s economic activity and the creation of new jobs.
Description: The program consists of providing loans of small amounts through BTS to contribute to the financing of small projects in various sectors of the economy. The small projects eligible for financing consist of shop furnishing, supply and installation of equipment and machinery, acquisition of means of transportation and communication, in addition to systems, programs and technical services needed for the establishment of new small projects, or expansion of existing projects, that are economically feasible and contribute effectively to the increase in income of the projects’ owners and workers.
Financing: The Arab Fund’s loan covers about 14% of the total program cost. The contribution of the small loan beneficiaries to the total program cost is expected to reach about 8%, and that of the Tunisian Government about 19%. BTS will provide about 59% of the total amount required for the program.
46
Annual Report 2012
Annex 1
Project 2 of 13
Republic of Tunisia Integrated Development Program
Loan No.:
574 Regional Development General Commissariat KD 88.6 million
Interest Rate:
3.0%
Grace Period:
5 years
Maturity:
22 years
Amount of Loan:
KD 42.0 million
Repayment:
35 semi-annual installments
Date of Loan Agreement:
12/01/2012
Date of Effectiveness:
18/11/2012
First Installment:
5 years following the first disbursement
Beneficiary: Project Cost:
Objectives: The program aims at contributing to the reduction of unemployment, the alleviation of poverty, and the improvement of living and health conditions of the population in the least developed regions of Tunisia, through the implementation of a number of projects. These projects will provide new job opportunities for small farmers, craftsmen and skilled professionals, and holders of higher education and vocational training degrees. The program also aims at increasing productivity, developing infrastructure, and improving public utility services, in order to achieve a balanced regional development by stimulating economic activity and community development, and reduce economic and social disparities among the population.
Description: The program is based on a set of integrated development plans in 90 regions spread over all provinces of the country. The program, which is expected to be completed by the end of 2014, includes the implementation of several individual projects in different areas covering agricultural activities, small activities and traditional industries, and projects to develop infrastructure, increase productivity and improve public utilities. The program consists of the following main components:
1) Individual Production Projects: This includes the implementation of about 6000
individual projects for small farmers, craftsmen, skilled professionals and holders of higher education and vocational training degrees, in order to provide new job opportunities for the beneficiaries of these projects, increase their income and improve their living conditions.
2) Infrastructure, Productivity, and Utilities Projects: This includes the following:
Annual Report 2012
47
a) Municipal Roads and Rural Tracks: This includes all civil, structural and
complementary works necessary to construct and pave a large number of municipal roads and rural tracks, with a total length of about 900 km, and a width ranging between 8 and 10 m.
b) Drinking Water and Sanitation: This includes the supply of drinking water
to about 50 thousand inhabitants, through the construction of major and minor pipe networks and their accessories, with an estimated total length of about 355 km and diameters ranging between about 75 and 200 mm. It also includes the provision of sanitation services to a number of communities, by laying pipelines with a total length of about 47 km and diameters ranging between about 160 and 250 mm.
c) Public and Household Lighting: This includes the work necessary for the supply and installation of approximately 3,400 lighting poles for a number of municipal roads and necessary power lines. It also includes establishing transmission lines to supply electricity to some 600 houses.
d) Groundwater Wells: This includes the drilling and rehabilitation of about 30 deep wells, with a depth ranging between about 65 and 700 m, and equipping them with pumps and hydro-mechanical equipment. It also includes the supply of electricity to these wells and about 355 shallow wells, from the national electricity network.
e) Irrigation, Water and Soil Conservation: This includes the development
of about 2,800 hectares of irrigated areas, through laying primary and secondary pipe works and their accessories to transport water to these areas and distribute it to farms. It also includes the protection of about 300 hectares of agricultural land in areas threatened by soil erosion.
f) Industrial Zones, and Craft and Agricultural Centers: This includes the creation of industrial zones in an area of approximately 40 hectares, the construction of some 30 crafts regions, the construction of 46 industrial shops, 4 centers for the collection of agricultural products, as well as 4 service centers, in addition to the creation of about 9 local markets and 8 centers for marketing and product promotion.
g) Health, Social and Cultural Utilities: This includes the construction of 46 primary health centers, 54 clubs and youth centers, 11 public libraries and a culture center, 10 clubs and child centers, and 12 sports halls, as well as the creation of some 49 sports grounds, 40 parks and green areas, the restoration of 6 ancient places and the expansion of 3 arenas for festivals.
3) Technical Services: This includes consultancy services for the preparation of studies and engineering designs, the supervision of the implementation program, in addition to consultancy services needed to conduct training activities.
4) Program Management: This includes the administrative, financial and operating expenses for the program management, and the institutional support to the beneficiary.
Financing: The Arab Fund’s loan covers about 47% of the total program cost. The Tunisian Government will cover the remaining cost of the program and any additional cost the may arise.
48
Annual Report 2012
Annex 1
Project 3 of 13
Kingdom of Bahrain Development of Water Supply Network
Loan No.:
Interest Rate:
3.0 %
Grace Period:
5 years
Project Cost:
575 Electricity and Water Authority (EWA) KD 167.9 million
Maturity:
22 years
Amount of Loan:
KD 30.0 million
Repayment:
35 semi-annual installments
Date of Loan Agreement:
07/02/2012
First Installment:
5 years following the first disbursement
Beneficiary:
Date of Effectiveness: Objectives:
The project aims at covering the shortage in the supply of drinking water in some areas of the Kingdom, in addition to meeting the future water needs of the population. This will be accomplished by distributing water made available from the Al Dur plant for power and water production. The project will also contribute to preserving groundwater and reducing its depletion.
Description: The project, which is expected to be completed by the second quarter of 2015, consists of constructing new pumping stations and raising the capacity of existing stations, supplying and laying of pipelines to transport and distribute additional water among different areas, as well as constructing ground level and elevated water reservoirs. The project also includes providing the consultancy services needed for preparing studies, bidding and supervising the execution of the project. The project includes the following components:
1) Pumping Stations and Associated Reservoirs: This component includes the
construction of new water pumping stations and raising the capacity of some existing ones, in addition to the construction of ground and elevated reservoirs associated with the stations. It also includes all civil, electrical and hydro mechanical works, including the supply of electricity to the stations and equipment for control and operation. This component comprises the following stations:
a) Al Areen Station and Supporting Hamad City Stations: This includes the construction of a pumping station in Al Areen with a capacity of about 520 l/s, in addition to raising the capacity of Hamad city stations for water mixing and distribution, by adding 8 pumps with capacities ranging between 150 and 720 l/s.
b) Al Dur Station and Support to Al Rifa Al Gharbi and Al Musfat Stations: This includes the construction of a pumping station in Al Dur with a capacity of about 2,850 l/s, in addition to raising the capacity of Al Rifa Al Gharbi and Al Musfat stations,
Annual Report 2012
49
by adding 3 pumps, each with a capacity of about 260 l/s, and the construction of a reservoir with a capacity of about 90 thousands m3.
c) North Stations: This includes the construction of a pumping station for water
distribution in Al Seef town with a capacity of about 260 l/s, and a pumping station for water distribution in the northern city with a capacity of about 520 l/s, in addition to raising the capacity of Salmabad and Buquwa stations by adding 2 pumps, each with a capacity of about 260 l/s. This component also includes the construction of 3 ground reservoirs each with a capacity of about 23 thousand m3 and an elevated reservoir with a capacity of about 4,500 m3.
d) Al Hadd and Al Muharraq Stations: This includes the construction of two
pumping stations, each with a capacity of about 260 l/s, in addition to raising the capacity of Khalifa Bin Salman Port and Al Hadd stations by adding 3 pumps each with a capacity ranging between 260 and 840 l/s. This component also includes the construction of 7 ground reservoirs each with a capacity of about 23 thousand m3 and 3 elevated reservoirs each with a capacity of about 4,500 m3.
e) Central Stations: This includes the construction of a pumping station with a
capacity of about 260 l/s, in addition to raising the capacity of 3 stations by adding 7 pumps with capacities ranging between 260 and 520 l/s. This component also includes the construction of 8 ground reservoirs each with a capacity of about 23 thousand m3 and 2 elevated reservoirs each with a capacity of about 4,500 m3.
2) Water Conveyance Pipelines: a) Al Dur – Al Rafa and Al Rafa – Al Areen Pipelines: This includes the supply and laying of pipelines with diameters ranging between 600 and 1,400 mm, with a total length of about 55 km.
b) North, South, East, West, Al Hadd and Al Muharraq Pipelines: This
includes the supply and laying of pipelines with diameters ranging between 400 and 1,400 mm, with a total length of about 85 km.
3) Other Reservoirs: This includes the construction of 19 ground reservoirs with
capacities ranging between 23 and 90 thousand m3 and 8 elevated reservoirs with capacities ranging between 3,400 and 6,800 m3.
4) Consultancy Services: This includes consultancy services required for preparing studies, designs and bidding, as well as supervising the implementation of the project.
Financing: The Arab Fund’s loan covers about 16% of the total project cost. The Kuwait Fund for Arab Economic Development contributes to the financing of the project with a loan of KD 26.2 million, the Islamic Development Bank with a loan equivalent to KD 53.3 million and the Saudi Fund for Development with a loan equivalent of about KD 17.6 million. The Abu Dhabi Fund for Development is also expected to contribute to the financing of the project. The Government of Bahrain will cover the remaining cost of the project and any additional cost that may arise.
50
Annual Report 2012
Annex 1
Project 4 of 13
Kingdom of Morocco High-Speed Train Tangier – Casablanca
Loan No.:
Project Cost:
568 Office National des Chemins de Fer (ONCF) KD 743.5 million
Amount of Loan:
KD 30.0 million
Date of Loan Agreement:
14/02/2012
Date of Effectiveness:
02/10/2012
Beneficiary:
Interest Rate:
3.0%
Grace Period:
5 years
Maturity:
22 years
Repayment:
35 semi-annual installments
First Installment:
5 years following the first disbursement
Objectives: The project aims at contributing to the economic and social development of the north western region of Morocco, and at improving land transportation services to accommodate
the rapidly growing demand for passenger railway transportation between Tangier, Kenitra,
Rabat and Casablanca, through the use of the high-speed train which provides fast and safe means of transportation for passengers.
Description: The project, which is expected to be completed by the end of 2015, comprises the
construction of a new double-rail track with a length of approximately 200 km and an
operating speed of 320 km/hr, for the high-speed train between Tangier and Kenitra which will connect to the existing track linking Kenitra, Rabat and Casablanca that has a length
of approximately 130 km and an operating speed of 160 km/hr. The project consists of the following components:
1) Infrastructure Civil Works: This includes all earth works required for the
construction of the alignment of the new rail track between Tangier and Kenitra with a length of 200 km. It also includes the construction of drainage works, bridges, overpasses and under-passes, as well as environmental protection works. The works in this component are divided into two sections: a north section of about 90 km and a south section of about 110 km.
2) Railway: This includes supplying and placing of ballast, manufacturing and installation
of concrete sleepers, rails and railway switches. It also includes establishing two bases
in Asilah and Kenitra for railway works and maintenance, and developing Tangier and Kenitra train stations.
Annual Report 2012
51
3) Electric Works and Systems: This includes works related to the electric overhead lines (2x25 kV), transmission sub-stations, and the central control station in Rabat. It also includes control, signaling and telecommunications systems required for managing train movements.
4) Rolling Stock: This includes procurement of 14 high-speed trains (320 km/hr). Each
train consists of 2 locomotives and 8 double-deck passenger cars with a capacity of 534 passengers.
5) Maintenance Workshop: This includes building and equipping a workshop in Tangier for the maintenance of high-speed trains.
6) Consultancy Services: This includes the provision of consultancy services
to prepare studies, detailed designs and tender documents, the supervision of the project execution, and assistance to the Directorate of the High-Speed Line Project in managing the execution of the project.
7) Land Expropriation: This includes the acquisition of land required for the project execution, as well as relocation of the utility networks that may obstruct the project alignment.
Financing: The Arab Fund’s loan covers about 4% of the total project cost. The Kuwait Fund for Arab Economic Development provided two loans for a total amount of KD 40.0 million (about 5%). The Saudi Development Fund and the Abu Dhabi Fund for Development provided loans equivalent to about KD 55.7 million (about 8%) and about KD 27.8 million (about 4%), respectively. The French Government provided a grant equivalent to about KD 29.2 million (about 4%), and loans and credit facilities for a total amount equivalent to about KD 243.2 million (about 33%). The French Development Agency also provided a loan equivalent to about KD 85.6 million (about 12%). The Hassan II Fund for Economic and Social Development contributed to the financing of the project with an amount equivalent to about KD 34.4 million (about 5%). The Moroccan Government will cover the remaining cost of the project and any additional cost that may arise.
52
Annual Report 2012
Annex 1
Project 5 of 13
Arab Republic of Egypt South Helwan Power Generating Station
Loan No.:
Interest Rate:
3.0 %
Grace Period:
6 years
Project Cost:
571 Upper Egypt Electricity Production Company KD 590.6 million
Maturity:
Amount of Loan:
KD 55.0 million
Repayment:
25 years 39 semi-annual installments
Beneficiary:
Date of Loan Agreement: Date of Effectiveness:
29/03/2012
First Installment:
6 years following the first disbursement
Objectives: The project aims at satisfying the increasing demand for electric power and energy, by raising the installed power generation capacity in Upper Egypt by 1,950 MW. This will be accomplished by constructing a high thermal efficiency, super-critical steam power station, that runs on natural gas as primary fuel and on heavy fuel oil as the alternate fuel.
Description: The project, which is expected to be completed in the fourth quarter of 2016, is located in the Giza Governate, about 115 km south of the city of Cairo and 200 m east of the Nile river, and far from densely populated areas. The project includes three 650 MW steam power generating units, each consisting of an outdoor super-critical steam generator, an indoor steam turbine, a power generator, a condenser, and accessories. The project consists of the following main components:
1) Power Generating Units and Accessories: This includes the design, supply
and installation of three power generating units, each consisting of a steam generator, a turbine, a power generator, a condenser, and their accessories.
2) Heat Exchangers: This includes design, manufacture and supply of eight feed water heat exchangers, and supervision of their installations and commissioning.
3) Water Treatment and Environmental Monitoring Systems: This includes
acquisition and installation of water treatment systems and environmental pollution monitoring equipment.
4) Critical Pipes and Valves: This includes the manufacturing and supply of critical pipes, valves, heat sensors, and all accessories.
Annual Report 2012
53
5) Transformers, Circuit Breakers, and Measurement and Control Systems: This includes design and supply of three 850 MVA power transformers
and auxiliary transformers. It also includes the supply and installation of a 500 kV swithchyard and its accessories, along with the supply of medium and low voltage breakers, measurement, protection and control systems.
6) Mechanical and Electrical Works: This includes the supply and installation of fire fighting systems, heat exchangers, pipes, pumps, heaters, and accessories. The electrical works include the supply and installation of battery systems, distribution boards, protection systems and UPS, in addition to the installation of major equipment consisting of transformers, MV and LV breakers, MCC and DCS.
7) Civil Works: This includes carrying out civil works and erection of a tanks yard, in addition to site services.
8) Consultancy Services and Insurance: This includes technical and consultancy services required for the project design and environmental impact study, preparation of tender documents, assistance in bid evaluation, contracting, and project supervision, in addition to project insurance.
Financing: The Arab Fund’s loan covers about 9% of the total project cost. It is expected that Arab and international institutions will contribute to the financing of the project. The Egyptian Government will cover the remaining cost of the project and any additional cost that may arise.
54
Annual Report 2012
Annex 1
Project 6 of 13
Arab Republic of Egypt Urgent Program to Support Small and Medium Private Sector Projects and Enterprises Loan No.: Beneficiary:
Interest Rate: Grace Period: Social Fund for Development (SFD) Maturity: 572
3.0% 7 years 25 years 37 semi-annual installments
Amount of Loan:
KD 30.0 million
Repayment:
Date of Loan Agreement:
29/03/2012
7 years following First Installment: the first disbursement
Date of Effectiveness:
Objectives: The program aims at contributing to the efforts being made to face the exceptional economic and social conditions currently prevailing in the Arab Republic of Egypt, through the provision of financing to small and medium private sector projects and enterprises in various sectors of the economy, thereby contributing to the creation of new jobs and to the increase in production and exports of goods and services.
Implementation: The loan will be made available to the SFD, which will carry out the tasks of loan administration, program implementation and monitoring. The SFD will on-lend the proceeds of the loan to commercial banks and other intermediary financial institutions, which will use these proceeds to provide loans to eligible projects and enterprises on the basis of criteria and conditions to be agreed upon with the Arab Fund.
Financing: The Arab Fund will contribute to the financing of the program with a loan of KD 30.0 million. It is expected that the beneficiary entities will participate in the financing of the eligible projects. Their share of the financing will be determined by agreement between the SFD and the intermediary institutions.
Annual Report 2012
55
Annex 1
Project 7 of 13
Republic of Djibouti Port of Tadjourah
Loan No.: Beneficiary: Project Cost:
577 Interest Rate: Ministry of Equipment Grace Period: and Transport KD 21.5 million Maturity:
Amount of Loan:
KD 10.0 million
Date of Loan Agreement:
17/04/2012
Date of Effectiveness:
2.5% 5 years 25 years
Repayment:
41 semi-annual installments
First Installment:
5 years following the first disbursement
Objectives: The project aims at improving maritime transport services in the Republic of Djibouti. This will be achieved through the construction of a new port in the city of Tadjourah to meet the increasing marine traffic demand, thus contributing to the economic and social development of the country, particularly the northern regions.
Description: The project, which is expected to be completed by the end of the first quarter of 2015, consists of the construction of the marine and civil works required for dredging and filling works. It includes the construction of a general cargo quay, a ro-ro terminal and breakwaters. It also includes the construction of the infrastructure and buildings, and the provision of the required equipment to operate the port. The project also includes technical and consultancy services for its implementation. The main components of the project can be summarized as follows:
1) Marine Works: a) Dredging and Backfilling: This component consists of dredging the port basin
and entrance channel to a depth of about 12 m below sea level. It also includes backfilling works used to reclaim sea areas to provide land space necessary for storage and future port development.
b) General Cargo Quay: This component consists of the construction of a 435 m quay, made of cellular cylindrical cofferdams, with two berthing facilities for general cargo vessels.
c) Ro-Ro Terminal: This component includes the construction of a typical ro-ro 56
Annual Report 2012
marine terminal with a length of about 190 m, to be used for berthing and mooring facilities.
d) Breakwaters and Accessories: This component includes the construction
of two breakwaters with a total length of about 440 m, required to protect the port basin. It also includes the construction of a canal for the initial wadi flood diversion, and two gabion walls to protect the port area.
2) Infrastructure, Buildings and Equipment: a) Paving: This component includes the paving of storage areas with about 20
thousand m2 of reinforced concrete and about 140 thousand m2 of asphalt concrete, in addition to the paving of roads inside the port.
b) Buildings, Networks and Services: This component includes all civil and
architectural works for management, storage and maintenance buildings, a maritime traffic control tower, in addition to works for electricity, drinking water, sewage and telephone networks, and other ancillary works.
c) Equipment: This component includes the acquisition of all land and marine equipment and devices necessary for the port’s operations.
3) Consultancy Services: This includes the consultancy services required for the supervision of the project.
Financing: The Arab Fund’s loan covers about 47% of the total project cost. It is expected that the Saudi Fund for Development will provide a loan equivalent to about KD 7.0 million (about 33% 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 2012
57
Annex 1
Project 8 of 13
Republic of Sudan East Sudan Roads
Loan No.:
578
Interest Rate:
Beneficiary:
Eastern Sudan Reconstruction and Grace Period: Development Fund
Project Cost:
KD 70.3 million
Maturity:
25 years
Amount of Loan:
KD 54.0 million
Repayment:
41 semi-annual installments
Date of Loan Agreement:
17/04/2012
Date of Effectiveness:
First Installment:
10/12/2012
5 years following the first disbursement
2.5 % 5 years
Objectives: The project is part of an integrated program to rebuild and develop Eastern Sudan, by linking remote rural areas and isolated villages to towns and cities, facilitating the population’s access to basic services and products, as well as facilitating the transportation of agricultural products from production areas to consumption areas, with the aim to improve the economic and social situation of the population of these areas.
Description: The project, which is expected to be completed by the end of the fourth quarter of 2015, consists of the construction of three main roads in three states, the Red Sea, Kassala, and Al Qadarif, in addition to two main bridges. The project includes the execution of all civil and construction works necessary to build these roads and bridges, as well as ancillary works needed for traffic safety. The project includes consultancy services needed for design and supervision of the project. The project consists of the following components:
1) Construction of Roads and Bridges: a) Roads: This component includes the construction and paving of three roads in East Sudan with asphalt, with a width of 7 m and shoulders ranging between 1.5 and 2 m, for a total length of about 400 km. This component also includes all reinforced concrete works needed to construct bridges and ferries, safety works and drainage facilities, in addition to necessary ancillary works.
i. Kassala - Karkoun - Maman Road: This road is located in Kassala State,
with a length of about 75 km. It starts from Karkoun city and ends in Maman city, and passes through Bowabolet, Tahadi and Telkuk.
58
Annual Report 2012
ii. Toker - Garora Road: This road is located in the Red Sea State, with a length of about 180 km. It starts from Toker city and ends in Garora city, and passes through several villages, such as Juba, Doliba and Aqiq.
iii. Al Qadarif - Simsim Abu Al Naja Link Road: This road is located in
Al Qadarif State, with a length of about 146 km. It starts from Al Qadarif city, and passes through Al Qadarif and Al Qalabat counties, in addition to 13 other villages, and ends in Simsim.
b) Bridges: i. Kassala Bridge: This bridge links Kassala city and Delta Al Qash, with a
length of about 150 m and a width of 11.5 m. The bridge consists of two lanes, one in each direction with a width of 4 m, and a pedestrian pathway with a width of 1.75 m. Reinforced concrete and steel structures will be used in the construction of this bridge.
ii. Sidon Bridge: This bridge links Kassala and the Nile River States, with a
length of about 250 m and a width of 13 m. The bridge consists of two lanes, one in each direction with a width of 4.5 m, and a pedestrian pathway with a width of 2 m.
2) Consultancy Services: This includes consultancy services required to prepare
the studies, design, detailed plans, specifications and tender documents as well as assistance in qualifying contractors, tender evaluation and project supervision.
Financing: The Arab Fund’s loan covers about 77% of the total project cost. The Sudanese Government will cover the remaining cost of the project and any additional cost that may arise.
Annual Report 2012
59
Annex 1
Project 9 of 13
Kingdom of Morocco El Jadida – Safi Motorway
Loan No.:
Project Cost:
579 Société Nationale des Autoroutes du Maroc (ADM) KD 177.3 million
Amount of Loan:
KD 30.0 million
Date of Loan Agreement:
17/04/2012
Beneficiary:
Date of Effectiveness:
Interest Rate:
3.0%
Grace Period:
5 years
Maturity:
22 years
Repayment:
35 semi-annual installments
First Installment:
5 years following the first disbursement
Objectives: The project aims at improving land transportation services on the road network in Morocco to accommodate the rapidly growing road traffic and reduce traffic accidents. This project also contributes to the economic and social development of the middle western region of the country and links it to the rest of the motorway network, and facilitates land transportation between that region and the main cities in Morocco.
Description: The project, which is expected to be completed by the end of the second quarter of 2015, comprises the construction of El Jadida – Safi Motorway. The total length of this motorway is approximately 142 km, and consists of 4 lanes, 2 in each direction with a width of 7 m, a median with a width of 3 m, and shoulders on each side of the motorway with a width of 2.5 m. The project consists of the following components:
1) Motorway Construction: This includes civil works related to the construction of
the motorway, drainage works, construction of over-passes and under-passes, as well as construction of main bridges over water courses.
2) Ancillary Works: This includes traffic lights and other safety equipment, maintenance
workshops, toll stations and related equipment. It also includes extending and restoring the services affected by the project such as water pipelines, telephone and electricity lines.
3) Project Management: This includes setting up a project implementation unit to manage the project execution, providing consultancy services to assist in project supervision and implementation of the technical aspects of the project, as well as acquiring the services of specialized quality control laboratories.
60
Annual Report 2012
Financing: The Arab Fund’s loan covers about 17% of the total project cost. The European Investment Bank is expected to provide a loan to cover about 50% of the total project cost. ADM and the Moroccan Government will cover the remaining cost of the project and any additional cost that may arise.
Annual Report 2012
61
Annex 1
Project 10 of 13
Islamic Republic of Mauritania Water Supply to Eastern Cities and Villages from Dhar Basin Loan No.: Beneficiary:
580 Société Nationale de L’Eau (SNDE)
Interest Rate: Grace Period:
2.5 % 7 years
Project Cost: Amount of Loan:
KD 36.2 million KD 20.0 million
Maturity: Repayment:
Date of Loan Agreement: Date of Effectiveness:
17/04/2012
25 years 37 semi-annual installments
30/07/2012
First Installment:
7 years following the first disbursement
Objectives: The project aims at covering the shortage in the supply of drinking water in the cities of Nema and Timbedra, and meeting their future water needs, as well as providing drinking water to the residents of several cities, villages, and population communities in Hodh Elcharghi. This will be accomplished by exploiting part of the Dhar basin, by transporting and distributing its water among the residents. The projects also aims at reducing the spread of diseases caused by consumption of contaminated water by the population, thereby contributing to the improvement of their living, environmental and health conditions.
Description: The project, which is expected to be completed by the end of 2015, consists of equipping a number of wells of Dhar basin, the construction of a number of pumping stations and reservoirs, laying pipelines, rehabilitation and extension of existing distribution networks and the construction of new ones, as well as the installation of a number of public taps and house connections. The project also includes providing the technical services needed for preparing studies and tender documents, and supervision of project implementation, in addition to providing institutional support, which includes the construction of a building for the administration and operation of the project and a workshop for equipment maintenance. The project includes the following main components:
1) Facilities Works Supplying Cities and Villages Extending from Ould Darwish to Timbedgha: This component includes the required works for the facilities that will supply drinking water to Achmim, Nema and Timbedra cities, as well as about 12 villages extending from Ould Darwish to Timbedra. Works also include equipping about 11 groundwater wells with submersible pumps, and laying pipelines for collection and conveyance of water from the wells to consumption areas. This component also includes the construction of about 8 ground and elevated reservoirs,
62
Annual Report 2012
and about 4 pumping stations. The wells and pumping stations’ works include all civil, hydro mechanical and electrical works, supply and installation of generators, transformers, power transmission lines to the wells and pumping stations, as well as the required equipment for operation and supervision. This component also includes laying secondary pipelines to supply villages with water and to rehabilitate and expand distribution networks in cities, in addition to the installation of a number of public taps and house connections.
2) Facilities Works Supplying Cities and Villages Extending from Baqla to Bengo: This component includes the required works for the facilities that will supply drinking water to Amrouj, Adel Bagrou and about 15 villages extending from Baqla to Bengo. Works also include equipping about 6 groundwater wells with submersible pumps, and laying pipelines for collection and conveyance of water from the wells to consumption areas. This component also includes the construction of about 9 ground and elevated reservoirs, and about 5 pumping stations. The wells and pumping stations’ works include all civil, hydro mechanical and electrical works, supply and installation of generators, transformers, power transmission lines to wells and pumping stations, as well as the required equipment for operation and supervision. This component also includes laying secondary pipelines to provide villages with water and to rehabilitate and expand distribution networks in cities, in addition to the installation of a number of public taps and house connections.
3) Technical Services: This includes preparing studies, detailed designs, tender
documents, and assisting in the tendering and evaluating process, as well as supervising the implementation of the project.
4) Institutional Support: This includes purchasing equipment, supplies and means
of transport required for the administration and operation of the project, as well as constructing a building for the administration of the project operation and a workshop for equipment maintenance. It also includes provision of systems and software required to improve the company’s performance and workers’ training.
Financing: The Arab Fund’s loan covers about 55% of the total project cost. It is expected that the Islamic Development Bank will contribute to the financing of the project with a loan equivalent to KD 13.2 million, about 37% of the total project cost. The Government of Mauritania will cover the remaining cost of the project and any additional cost that may arise.
Annual Report 2012
63
Annex 1
Project 11 of 13
Republic of Yemen Construction of a 60 MW Wind Farm in the Al-Mokha Area
Loan No.: Project Cost:
581 Public Electricity Corporation (PEC) KD 35.7 million
Amount of Loan:
KD 18.0 million
Beneficiary:
Date of Loan Agreement: Date of Effectiveness:
17/04/2012
Interest Rate:
2.5%
Grace Period:
5 years
Maturity:
25 years
Repayment:
41 semi-annual installments
First Installment:
5 years following the first disbursement
Objectives: The project aims at enhancing the electrical generating capacity in Yemen in order to meet part of the increasing demand for power and energy in the country, without using fossil fuel. This will be accomplished through the construction of a 60 MW wind farm in the AlMokha area, and connecting it to the national transmission network.
Description: The project, which is expected to be completed by the end of 2014, includes the supply and installation of low voltage (LV) wind turbines, having a total capacity of 60 MW, transformers to raise the generated voltage to 132 kV, the construction of a 132 kV transmission line from the project site to the Al-Mokha substation, the addition of a 132 kV cell at the substation to accommodate the transmission line, along with the provision of engineering services, computers, software and institutional support. The project includes the following main elements:
1) Wind Farm: This includes the supply and installation of LV wind turbines, transformers
to raise the voltage to 33 kV, the construction of a 160 MVA substation rated 33/132 kV, the construction of a 2.6 km 132 kV transmission line between the wind farm and the Al-Mokha substation which is attached to the Al-Mokha power plant, the addition of a 132 kV cell at the substation to accommodate the transmission line, along with the execution of civil and electrical works necessary for the operation of the project.
2) Engineering Services, Computers and Programs: This includes engineering
services needed during contract negotiations with contractors and suppliers, coordinating and organizing construction and installation works included in the project, and equipment witness testing. This element also includes the acquisition of computers and programs needed to analyze PEC’s electrical system in order to improve its efficiency.
64
Annual Report 2012
3) Institutional Support: This includes training of PEC technical staff in wind farm
technologies, constructing stations for measuring wind speeds at various locations in the country, establishing a company for constructing and operating wind projects, and developing standard tender documents for such projects.
Financing: The Arab Fund’s loan covers about 50% of the total project cost. The World Bank will participate in financing the project through a grant valued at around KD 5.6 Million (16% of the total project cost), and the OPEC Fund will provide a loan for the same amount. The Yemeni Government will cover the remaining cost of the project and any additional cost that may arise.
Annual Report 2012
65
Annex 1
Project 12 of 13
Republic of Sudan Water Harvesting in Border Provinces
Loan No.:
Project Cost:
582 Dams Implementation Unit KD 18.9 million
Amount of Loan:
KD 15.0 million
Beneficiary:
Date of Loan Agreement: Date of Effectiveness:
17/04/2012 08/08/2012
Interest Rate:
2.5%
Grace Period:
5 years
Maturity:
25 years
Repayment:
41 semi-annual installments
First Installment:
5 years following the first disbursement
Objectives: The project aims at developing the water resources in rural regions located in a number of border provinces in the south of the country, through the construction and rehabilitation of small dams and hafirs (ground reservoirs) to collect and store flood water for a number of valleys with seasonal runoff. The water provided by these facilities will be used for drinking by the nomadic herders and animals in those regions. The project will contribute to the resettlement of nomadic herders, and help avoid conflict between pastoralists and farmers within the borders of Sudan and across the border with the State of South Sudan. It will also contribute to the recharge of groundwater aquifers, reduce soil erosion and desertification, improve the living, economic, social and environmental conditions of the population, as well as reduce the spread of diseases and support stability in the rural regions in the south of the country.
Description: The project, which is expected to be completed by the end of 2013, consists of the construction of three dams, the rehabilitation and heightening of an existing dam, and the construction of 65 hafirs in six provinces: Blue Nile, White Nile, Sennar, South Kordofan, East Darfur and South Darfur. It includes all civil and hydro-mechanical works, and complementary works necessary for the dams and hafirs. It also includes the technical services required for review of studies and design, and for completion of design and tender documents for the project, as well as construction supervision. The following is a description of these components:
1) Construction of Dams and Hafirs: This component includes all necessary works for the completion of dams and hafirs, and consists of the following:
66
Annual Report 2012
a) Dams Works: This includes all necessary works to construct three dams and their
appurtenant structures; these are Bouk dam in the Blue Nile province, Mallweyah dam in Sennar province, and Abu Jriayes dam in South Kordofan province. The height of these dams ranges between about 4 and 6 m, their crest length between about 450 and 3,100 m, and their storage capacity between about 1 and 2.2 million m3. These works also include the rehabilitation and heightening of Elmeegeines dam in the White Nile province by about half a meter, which will increase its storage capacity from about 3.2 to 7.2 million m3. The construction and rehabilitation works include all civil works of excavation, fill, and concrete for the dams and their ancillary facilities, as well as the supply and installation of hydro-mechanical equipment for those facilities, and water purification units, in order to control and benefit from the water provided by the dams.
b) Hafirs Works: This includes all necessary works to construct 65 hafirs in the
beneficiary provinces. The width of the hafirs ranges between 75 and 300 m, their length between 114 and 308 m, and depth between 3.5 and 5 m. The storage capacity of those hafirs ranges between about 40 and 200 thousand m3, with their total capacity reaching about 4.7 million m3. The construction works include all civil works of excavation, fill, and concrete for the hafirs and their ancillary facilities, and diversion dikes to the hafirs as well as sand filters and subsidiary works such as storage tanks and hydro-mechanical equipment.
2) Technical Services: This includes the consultancy services to review the studies
and complete the construction designs and tender documents for the project, to evaluate construction tenders and to supervise the construction of the project. It also includes the use of expert services to review the studies and design of the dams.
Financing: The Arab Fund’s loan covers about 79% of the total project cost. The Sudanese Government will cover the remaining cost of the project and any additional cost that may arise.
Annual Report 2012
67
Annex 1
Project 13 of 13
Hashemite Kingdom of Jordan Al-Samra Electric Power Generating Station (Phase V) Loan No.:
Interest Rate:
3.0 %
Grace Period
4 years
Maturity:
22 years 37 semi-annual installments
Project Cost:
567 Al-Samra Electric Power Generating Company KD 72.1 million
Amount of Loan:
KD 30.0 million
Repayment:
Beneficiary:
Date of Loan Agreement: Date of Effectiveness:
12/06/2012 08/11/2012
First Installment:
4 years following the first disbursement
Objectives: The project represents the fifth phase of the Al-Samra Power Generating Station, located in the Al-Zarqaa Governorate. The project aims at satisfying the increasing demand for electric power and energy in the Kingdom by increasing the installed capacity of the station from 900 MW to 1,040 MW. This will be accomplished through the supply and installation of a steam turbine generator set rated at 140 MW, which, in conjunction with the two gas turbines supplied in phase IV of the station, will create a high efficiency combined cycle block rated at 440 MW.
Description: The project, which is expected to be completed by the end of 2014, consists of the supply and installation of a steam generating unit that will utilize the exhaust gases from the two gas turbines supplied in Phase IV of the station, two HRSG units, and a transformer to connect the generating unit to the national transmission grid. The project also includes the execution of the necessary mechanical, electrical and civil works, along with the provision of the required consultancy services. The project comprises the following main components:
1) Expansion of the Power Station: This includes the leveling of land involved in
the project site, along with all other required civil works, the supply and installation of two HRSG units, a steam turbine generator rated at 140 MW running on natural gas, a 15/132 kV power transformer rated at 200 MVA, in addition to the execution of all associated civil, mechanical and electrical works.
2) Consultancy Services: This includes necessary consultancy services required to prepare design drawings, assist in the tendering process, perform project supervision, and participate in witness testing and preliminary acceptance of equipment included in the project.
68
Annual Report 2012
Financing: The Arab Fund’s loan covers about 42% of the total project cost. The Al-Samra Electric Power Generating Company will cover the remaining cost of the project and any additional cost that may arise.
Annual Report 2012
69
Annex 2
Page 1 of 2
Capital, Resources and Status of Loans and Grants 1972 - 2012 (KD Million)
70
Years
Capital
Total Resources
Income
Administrative Expenses
Surplus Income
Signed Loans
1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 Total
15.4 21.7 36.0 52.0 99.6 131.9 164.9 202.7 260.7 317.5 374.2 450.1 520.5 581.1 642.2 644.2 644.3 663.0 663.0 663.0 663.0 663.0 663.0 663.0 663.0 663.0 663.0 663.0 663.0 663.0 663.0 663.0 663.0 663.0 663.0 663.0 2,000.0 2,000.0 2,000.0 2,000.0 2,000.0 2,000.0
16.0 22.7 38.7 57.4 108.5 145.7 186.2 225.8 313.2 393.3 482.9 598.4 680.4 797.4 960.5 1,009.3 1,062.0 1,176.2 1,236.7 1,245.2 1,344.4 1,424.9 1,421.5 1,495.3 1,584.8 1,675.0 1,747.8 1,828.7 1,933.2 1,983.9 2,054.4 2,169.8 2,266.0 2,354.5 2,451.1 2,535.0 2,513.4 2,617.5 2,669.7 2,717.2 2,808.6 2,808.6
0.6 1.0 2.9 3.7 5.9 10.3 11.3 14.7 22.1 26.8 36.7 40.2 40.2 61.0 113.8 53.9 80.0 103.7 68.9 74.4 116.7 99.5 2.8 117.2 98.5 105.4 83.8 95.3 81.4 53.6 34.2 129.2 119.3 108.4 126.5 117.3 6.0 123.2 95.4 76.2 112.0 2,674.0
0.1 0.6 0.8 0.9 1.5 2.1 2.2 2.0 2.2 2.1 2.4 3.2 2.9 3.2 3.2 3.2 2.9 3.0 3.2 3.7 3.2 3.1 3.3 3.4 4.0 4.1 4.7 4.7 4.7 4.9 4.9 4.9 5.2 5.9 6.6 6.0 6.7 7.3 6.9 7.4 8.4 155.8
0.5 0.4 2.1 2.8 4.4 8.2 9.1 12.7 19.9 24.7 34.3 37.0 37.3 57.8 110.6 50.7 77.1 100.7 65.7 64.9 104.7 85.0 - 0.4 80.6 94.4 96.1 77.9 86.6 76.7 48.7 78.6 122.4 113.2 102.6 119.6 111.2 - 0.9 115.8 89.3 68.8 103.6 2,495.4
37.1 56.1 98.2 103.9 19.4 30.2 40.5 67.3 91.1 85.6 53.2 104.5 65.4 112.9 165.8 195.0 171.4 175.7 184.5 194.4 207.5 266.4 244.1 258.0 266.0 279.5 285.0 293.5 308.5 309.0 335.0 345.0 368.0 366.8 334.1 360.5 340.0 379.0 7,598.1
Annual Report 2012
Annex 2
Page 2 of 2
Capital, Resources and Status of Loans and Grants 1972 - 2012 (KD Million) No. of Loans 8 11 14 15 4 9 13 26 29 21 17 20 11 20 15 18 11 13 12 16 12 18 22 18 15 15 15 15 16 18 19 18 16 16 18 14 12 13 593
Average Loan Amount Repayments Disbursements of Loan 4.6 5.1 7.0 6.9 4.9 3.4 3.1 2.6 3.1 4.1 3.1 5.2 5.9 5.6 11.1 10.8 15.6 13.5 15.4 12.2 17.3 14.8 11.1 14.3 17.7 18.6 19.0 19.6 19.3 17.2 17.6 19.2 23.0 22.9 18.6 25.7 28.3 29.2 12.8
1.8 11.7 18.3 24.7 61.8 37.0 25.5 36.1 26.8 30.2 29.9 44.5 57.3 48.4 45.5 84.0 40.6 85.7 103.1 116.5 115.7 174.8 212.7 178.5 165.6 173.2 228.8 182.8 161.2 199.7 250.3 282.2 281.5 274.5 284.7 249.3 291.7 233.0 235.0 5 ,105.1
0.2 2.1 3.4 6.0 9.5 11.9 10.8 12.6 26.2 25.5 26.0 31.1 26.8 46.6 44.7 40.5 40.1 42.4 46.9 50.0 53.1 51.9 119.5 93.9 90.6 122.5 101.0 155.1 306.3 136.5 129.5 186.9 167.2 157.3 165.3 2,539.9
Grants 0.2 0.5 0.4 1.0 0.4 0.3 0.7 1.3 1.3 1.5 1.3 1.4 3.3 3.8 5.1 3.8 4.7 3.3 3.4 5.9 3.5 5.8 2.9 4.9 3.9 6.3 13.0 5.0 4.1 7.0 5.1 4.5 13.9 11.3 10.5 7.5 9.6 13.4 7.5 183.4
No. of No. of No. of Grant Member Beneficiary Technical Disbursements States Countries Staff 0.1 0.1 0.2 0.6 0.3 0.2 0.2 0.2 0.7 0.6 0.7 1.2 1.0 2.2 2.7 4.8 3.4 4.2 3.2 3.2 4.1 3.9 3.5 3.0 3.9 4.5 5.8 5.2 4.5 5.9 6.1 6.2 7.8 6.5 6.9 8.0 7.0 6.5 8.4 137.0
17 17 17 20 21 21 21 21 21 22 22 22 22 22 22 22 22 22 21 21 21 21 21 21 21 21 21 21 21 21 21 21 21 21 21 21 21 21 21 21 21 -
7 8 10 11 6 8 11 9 12 11 11 10 7 9 8 8 8 8 6 9 7 9 9 10 12 10 11 10 10 9 11 9 8 6 8 8 6 9 -
18 26 30 43 56 48 30 32 29 21 32 37 44 50 50 50 50 52 45 46 43 45 46 61 66 65 68 69 69 71 68 67 69 68 67 68 69 69 65 66 -
* Based on the date of signature of the loan agreement. Annual Report 2012
71
0
400
800
1200
1600
2000
2400
2800
3200
Capital
Reserves
1985
(KD Million)
Growth in Arab Fund Resources During the Period 1972 - 2012
1990
Annual Report 2012
1995
72 2012 2010
2005
2000
1980
1975
1972
Loans, Disbursements, Repayments and Debt Owed to the Arab Fund During the Period 1974-2012 (KD Million) 3000
2500
K D Million
2000
1500
1000
500
0
1974-1979
1980-1984
1985-1989 Loans
1990-1994
Dibursements
Repayments
1995-1999
2000-2004
2005-2012
Debt Owed to the Arab Fund
Cumulative Loans, Disbursements, Repayments and Debt Owed to the Arab Fund During the Period 1974-2012 (KD Million) 8000 7000 6000
K D Million
5000 4000 3000 2000 1000 0 1974
1980 Loans
1985 Disbursements
1990
1995
Repayments
2000
2005
2012
Debt Owed to the Arab Fund
Annual Report 2012
73
Annex 3
Summary of Loans Extended to Member States, 1974 - 2012
507.7
43.1
464.6
6.8
464.6
432.8
93.1
2
Republic of Tunisia
50
50
673.8
41.6
632.2
9.2
632.2
488.1
77.2
3
Algerian Democratic and People’s Republic
26
25
395.3
112.5
282.8
4.1
282.8
282.8 100.0
4
Republic of Sudan
37
36
627.8
13.0
614.8
9.0
564.8
397.3
70.3
5
Republic of Iraq
10
9
59.7
10.6
49.1
0.7
36.4
19.6
53.7
6
Syrian Arab Republic
51
50
697.0
39.5
657.5
9.6
597.5
467.1
78.2
7
Libya
9
8
175.7
33.2
142.5
2.1
142.5
132.9
93.2
8
Arab Republic of Egypt
51
50
1,078.2
88.8
989.4
14.5
904.4
771.7
85.3
9
Republic of Yemen
96
94
774.7
20.6
754.1
11.0
727.8
439.8
60.4
10 Republic of Lebanon
25
24
393.0
36.1
356.9
5.2
321.9
216.6
67.3
11 Kingdom of Morocco
65
64
1,090.9
121.5
969.4
14.2
939.4
763.3
81.3
12 Kingdom of Bahrain
20
19
301.5
20.5
281.0
4.1
251.0
190.1
75.7
13 Somali Democratic Republic
12
11
40.7
2.8
37.9
0.6
37.9
23.8
62.8
14 Islamic Republic of
48
48
375.7
4.7
371.0
5.4
371.0
274.3
73.9
15 Sultanate of Oman
24
23
317.5
164.5
153.0
2.2
153.0
153.0 100.0
5
5
17.0
2.5
14.5
0.2
14.5
14.4
98.8
20
18
72.0
4.7
67.3
1.0
48.3
37.6
77.7
593
577
7,598.1
759.9 6,838.2 100.0 6,490.2 5,105.1
78.7
Mauritania
16 Palestine 17 Republic of Djibouti Total
74
Disbursements
43
Annual Report 2012
Effective Loans
Net
44
Approved
Hashemite Kingdom of Jordan
Net
1
Approved
Cancelled
Beneficiary States
Effective Loans and Disbursements
Amount of Loans
% Net Loans
No. of Loans
% Disbursements to Effective Loans
(KD Million)
Annex 4
Sectoral Distribution of Loans Among Beneficiary Member States, 1974 - 2012 (KD Million)
Percentage
Grand Total
Other Sectors**
Social Services Sectors*
6.0
253.9
8.8
121.4
22.5
58.0
0.5 507.7
6.7
209.8
4.7
130.8
59.9
144.0
37.0
67.0
20.6 673.8
8.9
45.0
7.8
147.0
30.0
77.3
10.0
70.0
8.2 395.3
5.2
198.6
7.7
172.5
29.3
165.5
54.2
-
- 627.8
8.3
-
5.0
8.5
-
8.0
18.8
-
69.0
60.7
368.0
47.5
86.1
52.1
-
12.5
127.2
-
-
88.0
-
9 Republic of Yemen
266.9
8.9
208.9
97.6
63.3
10 Republic of Lebanon
89.0
-
115.5
52.0
11 Kingdom of Morocco
511.0
4.0
85.5 100.3
12 Kingdom of Bahrain
50.5
6.0
84.0
13 Somali Democratic
16.5
2.9
6.8
14 Islamic Republic of
70.8
11.1
15 Sultanate of Oman
178.5
3.0
22.0
5.0
-
14.5
5.9
1 Hashemite Kingdom of Jordan
2 Republic of Tunisia 3 Algerian Democratic and People’s Republic
4 Republic of Sudan 5 Republic of Iraq 6 Syrian Arab Republic 7 Libya 8 Arab Republic of Egypt
Republic
Mauritania
16 Palestine 17 Republic of Djibouti Total Percentage
Industry and Mining
36.6
Beneficiary States
Transport
Water and Sewerage
Agriculture and Rural Development
Productive Sectors
Energy and Electric Power
Telecommunications
Infrastructure Sectors
59.7
0.8
13.0
0.6 697.0
9.2
36.0
-
- 175.7
2.3
- 118.4
83.4
32.0 1,078.2 14.2
31.1
82.1
16.0 774.7 10.2
31.0
-
71.5
34.0 393.0
347.5
9.0
33.0
66.0
-
25.0
70.0
5.0
9.5
-
-
108.8 135.9
10.3
19.3
45.0
3.0
-
-
22.0
7.0
655.4 101.0
19.4
5.2
0.6 1,090.9 14.4 - 301.5
4.0
40.7
0.5
4.5
15.0 375.7
4.9
6.0
-
60.0 317.5
4.2
6.0
-
6.0
-
17.0
0.2
1.9
0.7
20.0
-
72.0
0.9
1,849.7 146.2 2,516.8 785.3 1,074.8 440.0 24.3 2.0 33.1 10.3 14.2 5.8
578.5 7.6
-
206.8 7,598.1 100.0 2.7 100.0
* Include Education, Health, Housing and Social Development. ** Include Loan Commitments for Emergency Projects.
Annual Report 2012
75
76
Annual Report 2012
0
200
400
600
800
1000
1200
Jordan
Tunisia
Transport
Algeria
Iraq
Telecommunications
Sudan
Egypt
Lebanon
Morocco
Somalia
Mauritania
Oman
Industry & Mining Social Services
Bahrain
Agriculture & Rural Development
Yemen
Water & Sewerage
Libya
Energy & Electric Power
Syria
(KD Million)
Sectoral Distribution of Loans Among Beneficiary Countries, 1974 - 2012
Others
Palestine
Djibouti
Annex 5
Page 1 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
Amount of Loan
14/75
5,000
43/77
5,900
1
Amman Northern Approach*
2
Electric Power Development I*
3
Electric Power Development II*
4
Aqaba Water*
5
Second Pan-Arab Telecommunications*
58/80
6
White Cement Industry (Jordan and Syria)*
7
19/76 47/79
6,000 2,100
Repayments as at 31/12/2012
Hashemite Kingdom of Jordan
Loan No.
Disbursements as at 31/12/2012
(1)
Country / Project
Disbursements During 2012
No.
Cancelled Loans and Balances
(KD 000)
-
4,931
4,931
5,900
5,900
69 -
-
-
129
-
6,000
-
1,971
4,433
78/82
5,000
-
-
5,000
5,000
Potable Water to the Rural Areas*
82/82
700
-
-
700
700
8
Electric Power Development III (Aqaba Power Station)*
92/82
5,000
-
-
5,000
5,000
9
Fifth Pan-Arab Telecommunications (Inter-Arab)/(Earth Stations)*
96/82
1,000
-
-
1,000
1,000
10
Small Farmers Credit in the Jordan Valley*
108/83
2,500
-
-
2,500
2,500
11
Zarqa-Al Mafraq-Syrian Border Road*
12
Central Ghors Irrigation*
13
Mitigation of Earthquake Risks*
14
The Lower Zarqa River Basin*
15
4,000
148/84
145/84
567
1,971
5,000
118/83
-
6,000
567
-
-
4,000
4,000
450
182
-
268
268
6,000
82
165/85
Zara-Ghor Haditha Road*
175/86
5,000 5,600
27
16
Ruwaishid Pilot Scheme in Hammad Basin (Inter-Arab)*
184/86
1,500
17
Extension of Aqaba Thermal Power Station**
192/87
18
Shaidiya Phosphate Mines*
224/89
19
Jordan-Egypt Power Link*
20
5,918
-
5,573
5,000
4
-
1,496
1,496
7,000
7,000
-
-
-
233/89
8,000
10,500
700
-
7,300
10,500
7,300
10,240
Supporting Operations of Jordan Electricity Authority and the Jordan Phosphate Mines Co.*
239/90
8,000
-
-
8,000
7,752
21
Industrial Development Bank Operations Program, 1990 - 1993*
252/90
5,000
17
-
4,983
4,983
22
Karameh Dam*
277/93
15,000
1,104
-
13,896
11,012
23
Second Agricultural Credit for Income Diversification*
283/93
2,500
-
-
2,500
1,725
24
King Abdallah Teaching Hospital*
285/93
10,000
399
-
9,601
7,297
25
Aqaba Power Station Phase II and Reinforcement of Internal Transmission Lines*
301/94
35,000
-
-
35,000
24,000
26
Interconnection of Jordan and Syria Power Grids (Jordan)*
311/95
19,500
-
-
19,500
12,495
27
Aqaba Thermal Power Station (Phase III)*
320/95
26,000
-
-
26,000
17,020
28
Hwarat-Abu Zeighan Irrigation Water Pipeline*
29
Infrastructure Development in the Poor Areas*
358/97
6,000
446
-
5,554
2,419
30
Integrated Development in the Southern Ghors*
359/97
22,605
12,269
* Completed Project.
-
1,900
595
34,000
11,395
-
5,918 5,000
333/96
-
-
-
1,305
5,573
863
** Fully Cancelled Loan. Annual Report 2012
77
Annex 5
Page 2 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
Hashemite Kingdom of Jordan
31
Integrated Development in the Southern Ghors (Phase II - Mujib Dam)*
32
King Abdallah Teaching Hospital (Second Loan)*
33
Prince Hamza Hospital*
34
Al-Wehdah Dam*
35
Education Reform - School Buildings*
36
Amman Development Corridor (Section I)
Amount of Loan
Repayments as at 31/12/2012
(1)
Loan No.
Disbursements as at 31/12/2012
Country / Project
365/98
12,000
356
-
11,644
5,694
371/98
15,000
29
-
14,971
7,691
-
28,918
7,668
386/99
394/2000 444/2003
455/2003
23,000
9,348
175
10,000
318
-
35,000 12,000
6,082 -
Al-Samra Power Generating Station*
462/2004
21,000
-
38
Amman Development Corridor - Phase I (Second Loan)*
499/2006
10,000
-
39
Al-Samra Power Generating Station (Phase II)*
515/2007
20,000
-
40
Comprehensive Development of Wadi Araba Region (Phase l)
522/2007
6,000
41
Al-Samra Electric Power Generating Station (Phase lII)*
524/2007
42
Al-Samra Electric Power Generating Station (Financing Phase IV and Additional Financing for Phase III)
43
Sanam Coated Glass Factory (P)*
44
Al-Samra Electric Power Generating Station (Phase V)
37
Republic of Tunisia
1
Tunis Sud Electric Power*
2
El-Borma Gas*
3
Development Credit*
4
Water Supply for Industry in Gabes*
5
Ghardima Plain Irrigation*
6
Bizerte Fisheries Port*
7
Fourth Pan-Arab Telecommunications*
8
Potable Water to Rural Areas*
9
Wadi Lubna for Irrigation & Agricultural Development*
10
Fifth Pan-Arab Telecommunications (Earth Stations)*
11
Water Supply for the Central & Southern Coastal Areas*
12
Mornag Agriculture*
13
Burj Tomi, Mater and Sajnan Irrigation*
14
Mitigation of Earthquake Risks*
15
Integrated Rural Development (Phase I)*
16
Northern Roads Development*
17
Monastir Fishery Port*
18
Al-Qairawan Plain Irrigation*
* Completed Project. Annual Report 2012
336
9,682
11,977
6,050
2,402
-
3,600
10,000
-
-
20,000
570
-
880
4,163
-
30,000
-
-
30,000
-
542/2009
30,000
-
30,000
-
12P /2010
4,500
323
491
4,177
-
567/2011
30,000
-
-
-
-
507,650
43,038
7,536
432,751
208,874
3/74
2,000
1
-
1,999
1,999
34/77
7,000
-
-
7,000
7,000
478
-
3,022
3,022
15/75
4,000
4
-
13,652
21,000
Subtotal
(2)
78
Cancelled Loans and Balances
No.
Disbursements During 2012
(KD 000)
4,495
1,160
-
50/79
3,300
1,018
64/81
3,800
649
600
88
-
3
-
57/80
3,500
72/81
3,700
91/82
3,500
1,628
115/83
4,000
144/84
83/82
101/82 123/83 149/84 166/85 190/87
195/87
207/88
-
2,282
3,151
3,996 2,282
3,151
-
3,700
3,700
-
1,872
1,872
1,489
-
2,511
2,511
6,000
2,700
-
14,000
-
1,000
1,500 575
7,000
1,300
5,500
-
-
3,996
133
-
48
-
-
-
72
2,079
-
-
-
512
997
1,367
3,300 527
14,000 7,000
1,228
3,421
512
997
1,367
3,300 527
14,000 7,000
1,228
3,421
(P): Private Sector Project.
Annex 5
Page 3 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
Disbursements as at 31/12/2012
Repayments as at 31/12/2012
(2)
Republic of Tunisia
19
Tunis Municipality Road Rehabilitation*
213/88
2,700
-
-
2,700
2,700
20
Rehabilitation and Maintenance of the Phosphoric Acid and Fertilizers Company’s Factories*
228/89
16,000
-
-
16,000
16,000
21
Hammamat-Masaken Motorway*
242/90
20,000
-
-
20,000
19,200
22
Tunisia-Libya Power Link*
23
Maintenance of Flood-damaged Roads*
253/90
5,000
1,049
-
3,951
3,831
24
Sidi El-Barraq Dam Project for Potable Water and Irrigation*
273/92
20,000
3,217
-
16,783
12,783
25
Integrated Rural Development (Phase II)*
293/94
21,000
372
-
20,628
15,093
26
Roads Development*
27
University Buildings in Gafsa*
321/96
2,119
-
7,881
4,746
4,913
Al-Wakael Project (Phase III)*
254
-
28
328/96
10,000
3,017
29
Zarqa Dam and the Irrigation of Tbarqa and Mekna Plains*
338/96
13,000
3,830
-
9,170
5,175
30
Hima, Abeed, Rumail and Al-Bark Dams for Irrigation*
348/97
22,000
6,497
-
15,503
8,788
31
Supporting the Vocational Training and Employment Programs*
361/97
11,000
134
-
10,866
5,256
32
Improvement of the Roads Network and Rural Roads*
374/98
35,000
30
-
34,970
15,970
33
Tunis - Bizerte Motorway*
382/99
24,000
4,877
-
19,123
8,123
34
El-Kebir and El-Maoula Dams
35
Development of the Industrial Parks*
402/2000
14,000
4,776
9,224
4,284
11,000
2,000
9,000
3,434
No.
Country / Project
Loan No.
Amount of Loan
243/90
296/94
391/99
405/2000
17,800
10,000 5,000
28,000
25,000
Cancelled Loans and Balances
Disbursements During 2012
(KD 000)
-
-
-
-
17,800
10,000
-
209
1,885
-
23,115
-
23,475
8,640
7,125
6,800 8,280
36
Tunis - Mejez El-Bab Motorway*
37
Developmental Credit Lines*
413/2001
38
Construction of Six Dams in the North to Supply Potable Water
428/2002
32,000
-
1,510
22,027
4,850
39
Modernization of the Transmission Network
443/2003
30,000
-
-
30,000
6,880
40
Sarrat Dam and Irrigation of Oulad Bou Ghanem and Mahjouba Plains
459/2004
12,000
-
1,188
3,387
-
41
Al-Wakael Project (Phase IV)
464/2004
4,000
-
21
1,561
366
42
Regional and Rural Roads Network*
43
Wadi Al-Kabir Dam in Gafsa Province
-
137
202
-
483/2005
16,000
125
25,000
-
490/2006
3,000
-
-
15,875
-
24,938
893
44
Ghannouch Combined Cycle Power Generating Station
494/2006
45
Regional and Rural Roads Network (Phase II)
518/2007
22,000
-
185
20,044
-
46
Ghannouch Combined Cycle Power Generating Station (Supplementary Loan)*
543/2009
15,000
-
-
15,000
-
47
Sousse Power Generating Station (Second Expansion)
553/2010
37,000
-
17,434
17,434
-
48
Oued Zarga - Bousalem Motorway
49
Urgent Program to Support Small Private Sector Projects
-
-
-
-
50
Integrated Development Program
488,062
234,288
Subtotal
561/2011 573/2011 574/2011
38,000 15,000 42,000
673,775
-
41,553
771
-
21,456
771 -
-
-
-
* Completed Project. Annual Report 2012
79
Annex 5
Page 4 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
-
4,437
4,437
Algerian Democratic and People’s Republic
1
New Arzew Port*
2
Telecommunications*
3
Jijel Port*
4
Navigation Inspection Unit*
5
Fourth Pan-Arab Telecommunications*
6
Two Hospitals in Tihart State*
7
Fifth Pan-Arab Telecommunications (Earth Stations)*
8
The Mitigation of Earthquake Risks (First Loan)*
5/74
6,000
1,563
42/77
12,000
6,760
71/81
4,500
153
-
4,347
4,347
102/82
1,000
-
-
1,000
1,000
-
6,000
6,000
10A/75 55/80
94/82
300
2,000
52
70
-
-
-
5,240
1,930
5,240
1,930
117/83
4,700
3,704
-
167/85
6,500
1,364
-
5,136
5,136
6,000
-
3,376
248
1,624
140/84
-
248
5,000
996
3,376 996
9
Agricultural Credit*
10
Wadi Mina Irrigation*
11
Sharfa Dam*
183/86
10,800
12
Bani Haroun Dam for Municipal Water, Electricity and Irrigation (First Loan)*
210/88
17,000
127
-
16,873
16,873
13
South Power Supply: Adrar Power Station*
261/91
1,028
-
19,972
19,972
14
Bashar-National Grid Power Link*
280/93
21,000
15
Bani Haroun Dam for Municipal Water, Electricity and Irrigation (Supplementary Loan)*
298/94
6,000
-
-
6,000
6,000
16
Power Generating Station in Hassi Massoud*
324/96
40,000
57
-
39,943
39,943
17
The Mitigation of Earthquake Risks (Second Loan)*
332/96
3,500
1,887
-
1,613
1,613
16,000
2,042
2,235
-
-
8,758
13,765
8,758
13,765
18
Development of Small and Medium Industries*
339/97
10,000
1,012
-
8,988
8,988
19
Power Generating Station in Hassi Massoud (Supplementary Loan)*
353/97
10,000
47
-
9,953
9,953
20
Al-Hama Power Generation Station*
377/98
1,476
-
28,524
28,524
21
Upgrading of the Electric Grid*
387/99
30,000
22
Development of Social Housing in the Central Region*
396/2000
35,000
12,190
-
22,810
22,810
23
Pumping and Conveyance of Bani Haroun Water (First Stage)*
415/2001
31,000
3,902
-
27,098
27,098
24
Conveyance of Bani Haroun Water (Conveyor to Othmania Dam)*
424/2002
30,000
21,597
-
8,403
8,403
25
Afroun- Husseinia Motorway*
426/2002
27,000
19,599
-
7,401
7,401
26
Housing Construction and Reconstruction**
450/2003
30,000
30,000
-
-
-
395,300
112,487
282,813
282,813
Subtotal
(4) 1
Gadaref-Kassala Motorway (First Loan)* Telecommunications*
3
Rahad Roads*
4
Sennar-Damazin Motorway* Railways Development*
* Completed Project. Annual Report 2012
30,000
-
-
-
30,000
30,000
Republic of Sudan
2
5
80
Amount of Loan
Repayments as at 31/12/2012
Loan No.
Disbursements as at 31/12/2012
(3)
Country / Project
Disbursements During 2012
No.
Cancelled Loans and Balances
(KD 000)
6/74
8,000
-
9/75
4,800
257
31/76
11,000
986
16/75
46/77
4,400
5,000
11
32
-
8,000
8,000
-
4,543
4,543
-
10,014
10,014
-
-
4,389
4,968
4,389
4,968
** Fully Cancelled Loan.
Annex 5
Page 5 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
Loan No.
Amount of Loan
Disbursements as at 31/12/2012
Repayments as at 31/12/2012
(4)
Country / Project
51/79
5,200
-
-
5,200
5,200
65/81
2,500
2,500
-
1,727
1,727
Cancelled Loans and Balances
No.
Disbursements During 2012
(KD 000)
Republic of Sudan
6
Gadaref-Kassala Motorway (Supplementary Loan)*
7
Nzara Rural Development**
1,800
-
Potable Water for the Rural Areas*
84/82
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
11
Rehabilitation of Sugar Industry (Second Loan)*
111/83
6,000
12
Rehabilitation of Gezira Agricultural Scheme (First Loan)*
136/84
8,000
-
-
8,000
8,000
13
Rehabilitation of Gezira Agricultural Scheme (Second Loan)*
155/85
4,400
-
-
4,400
4,400
14
Rehabilitation of Khartoum Water and Sewerage Facilities*
179/86
2,500
-
-
2,500
2,416
15
Rehabilitation of Telecommunications (Phase I)*
180/86
1,600
-
-
1,600
1,600
7,500
-
-
7,500
3,400
7,500
Rehabilitation of the Sugar Industry (Third Loan)*
181/86
17
Rehabilitation of Gezira Agricultural Scheme (Third Loan)*
182/86
9,600
-
-
9,600
6,102
18
National Power Grid*
198/87
8,500
-
-
8,500
6,196
19
Port Sudan Water Supply* Textiles Rehabilitation*
-
-
16
20
3,400
73
-
8
1,760
206/87
10,000
5,000
-
5,000
2,560
392/2000
23,000
-
-
23,000
7,440
410/2001
25,000
-
-
25,000
4,050
208/88
4,500
3,765
-
735
735
21
Paving of the Main Roads*
22
Roseires Dam*
23
Atbara - Haiya - Port Sudan Road*
24
Merowe Dam*
422/2002
25
Generation and Transmission of Electricity from Merowe Dam*
448/2003
30,000
-
-
30,000
2,400
26
Gadaref-Doka-Gallabat Road*
457/2003
9,000
130
-
8,870
1,152
27
Merowe Dam Road*
28
White Nile Sugar*
476/2005
21,000
-
199
21,000
680
528/2008
58,000
1,272
40,978
-
29
Heightening of Roseires Dam (Phase II)*
30
Merowe Dam (Supplementary Loan)*
31
Al Salam Cement Factory (P)*
32
White Nile Sugar (Supplementary Loan)
33
Khartoum New International Airport
393/2000
474/2005 521/2007 8P/2008
12,000 46,000
4,000
58,000
-
-
2,778
-
50,000
-
548/2010
30,000 50,000
552/2010
-
-
-
10,951 -
12,000 46,000
1,534
49,040
8,750
558 -
2,778
309
-
-
-
5,249
25,303
-
9,754
9,754
-
3,900
-
34
Upper Atbara and Setit Dams Complex
557/2010
35
Electric Power Generating Station in the Upper Atbara and Setit Dams Complex
566/2011
30,000
-
4,870
4,870
-
36
East Sudan Roads
578/2012
54,000
-
-
-
-
37
Water Harvesting in Border Provinces
627,778
12,978
32,295
397,281
116,425
Subtotal * Completed Project.
582/2012
15,000
-
-
-
-
-
** Fully Cancelled Loan.
(P): Private Sector Project. Annual Report 2012
81
Annex 5
Page 6 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
Disbursements During 2012
Republic of Iraq
1
Deep Freeze Store*
107/83
10,000
1,700
-
7,259
2
Fifth Pan-Arab Telecommunications (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
Country / Project
Loan No.
Amount of Loan
Repayments as at 31/12/2012
Cancelled Loans and Balances
(5)
No.
3,032
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
-
8
Abattoir and Meat Processing Unit (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
-
-
-
-
(6)
Syrian Arab Republic
Subtotal
59,725
10,600
-
19,571
3,095
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
9
Fifth Pan-Arab Telecommunications (Earth Stations)*
95/82
1,000
-
-
1,000
1,000
10
Damascus-Sanamein-Jordanian Border Road*
128/83
9,000
-
-
9,000
9,000
11
Mehardeh Power Station Extension (First Loan)*
146/84
6,500
239
-
6,261
6,261
12
Mitigation of Earthquake Risks*
151/84
575
11
-
564
564
13
Pesticides Arab Joint Venture (Syria-Jordan)**
154/84
1,900
1,900
-
-
-
14
Mehardeh Power Station Extension (Second Loan)*
156/85
4,500
143
-
4,357
4,357
15
Damascus Water Supply (Second Loan)*
164/85
3,000
361
-
2,639
2,639
16
Fifth Pan-Arab Telecommunications (Earth Stations) - (Supplementary Loan)*
172/86
1,000
-
-
1,000
1,000
17
Tenf Pilot Scheme in Hammad Basin (Inter-Arab)*
185/86
1,700
-
-
1,700
1,700
18
Ghab and Asharneh Plains Irrigation*
193/87
15,000
995
-
14,005
14,005
19
Mehardeh Power Station Extension (Supplementary Loan)*
194/87
2,500
-
-
2,500
2,500
* Completed Project.
82
Disbursements as at 31/12/2012
(KD 000)
Annual Report 2012
** Fully Cancelled Loan.
Annex 5
Page 7 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
Syrian Arab Republic
20
Hamah-Saraqeb Road and Ain Eissa-Qintari Road*
21
Homs and Hama Sewerage*
Amount of Loan
Repayments as at 31/12/2012
(6)
Loan No.
Disbursements as at 31/12/2012
Country / Project
214/88
8,000
31
-
7,969
7,741
9,500
12,500
1,944
-
7,556
7,016
Aleppo Sewerage*
245/90
23
Rehabilitation of Phosphate Fertilizer Plant in Homs*
246/90
10,000
1,082
-
8,918
8,195
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
28
Southern Region Agricultural Development Project (Phase II)*
274/92
3,500
909
-
2,591
1,909
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
33
Interconnection of Jordan and Syria Power Grids (Syria)*
312/95
30,000
-
-
28,223
17,290
34
Syria-Turkey Power Grid Interconnection and Reinforcing the Syrian Internal Network*
314/95
26,000
2,936
-
23,064
10,714
35
Construction of 66 kV Substations in Six Governorates*
319/95
15,500
-
-
11,902
5,880
36
Agricultural Development in the Coastal and Central Areas*
327/96
17,500
6,559
-
10,941
3,741
37
Modernization of the Communications System in Syria (1.650 million new lines)*
351/97
26,000
-
-
21,950
11,840
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
41
Modernization of the Communications System (Subscribers’ Networks)*
384/99
30,000
-
-
30,000
10,260
42
The Expansion and Conversion to Combined Cycle of Nasrieh Power Plant *
409/2001
25,000
-
-
9,293
2,860
43
Transformation Stations in the Industrial Cities of Rif Dimashq, Homs and Aleppo Provinces*
429/2002
9,000
-
-
7,371
1,750
44
Rural Development in Idlib Governorate
433/2002
5,500
-
295
606
-
45
Converting Zeizoun Power Station to Combined Cycle*
440/2003
22,000
-
-
13,654
2,950
46
Power Generating Station in the South (Deir Aly)*
469/2004
30,000
-
-
29,643
-
22
241/90
Cancelled Loans and Balances
No.
Disbursements During 2012
(KD 000)
5,434
-
7,066
6,881
* Completed Project. Annual Report 2012
83
Annex 5
Page 8 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
Disbursements as at 31/12/2012
Repayments as at 31/12/2012
(6)
Syrian Arab Republic
47
Arab Gas Pipeline Project - Third Stage (Aleppo - Kalas Section)
529/2008
10,000
-
-
1,881
-
48
Expansion of Deir Ali Power Generating Station
536/2008
45,000
-
4,428
20,169
-
49
Deir Al-Zor - Al-Boukamal Road
537/2008
16,000
-
15
33
-
50
Power Generating Station in the Eastern Region (Deir Al-Zor)
493/2006
30,000
-
-
-
-
565/2011
30,000
-
-
-
-
696,975
39,447
4,738
467,123
273,023
No.
51
(7)
Country / Project
Power Generating Station in the Eastern Region (Deir Al-Zor) - (Supplementary Loan) Subtotal
Amount of Loan
Libya
1
Two Fish Packaging Plants in Sabrata and Zlaiten*
240/90
11,000
1,867
-
9,133
9,133
2
Libya-Tunisia Power Link *
244/90
2,200
784
-
1,416
750
3
Interconnection of the Libyan and Egyptian Power Grids (Libya)*
326/96
12,000
2,590
-
9,410
6,420
4
National Control Center for the Libyan Electrical System*
329/96
20,000
-
-
20,000
4,568
5
Submarine Fiber Optic Cable*
369/98
12,500
2,932
-
9,568
9,568
6
Development Credit**
385/99
25,000
25,000
-
-
-
7
Converting North Benghazi Electrical Power Plant to Combined Cycle*
398/2000
25,000
-
-
25,000
6,840
8
Conversion of Al-Zawya Power Station to Combined Cycle*
437/2002
28,000
-
-
22,012
6,750
9
Electrical Inter-Connection at 400 kV (Phase II) Subtotal
458/2004
40,000
-
-
36,336
6,900
175,700
33,173
-
132,875
50,929
6,500
-
-
6,500
6,500
(8) 1
Arab Republic of Egypt
2
Tourah Cement Expansion*
Talkha II Fertilizers (First Loan)*
3
Cairo-Fustat Water Supply*
4
Cairo-Helwan Sewerage*
5
Talkha II Fertilizers (Supplementary Loan)*
6
Abu-Qir Power Station Extension*
7
Kafr El-Dawar Textiles*
8
Suez Canal Development*
9
Dumyat Power Station (Phase II)*
10
Idfu Wood Pulp Plant Extension*
11
Egypt-Jordan Power Link*
12
Soda Ash Plant (First Loan)*
* Completed Project.
84
Loan No.
Cancelled Loans and Balances
Disbursements During 2012
(KD 000)
Annual Report 2012
4/74
11/75
6,700
-
-
6,700
6,612
18/75
8,300
7,603
-
697
697
28/76
12,000
3,041
-
40/77
12,000
-
-
17/75
24/76
30/76
221/89 229/89
234/89 238/90
9,700
2,700
10,000
1,806 6 -
-
-
-
35,000
700
-
34,100
3,339
-
7,500
7,000
632 -
-
-
7,894
2,694
7,894
2,604
8,959
8,959
12,000
11,537
10,000
9,541
34,300
29,925
30,761
26,525
6,868
7,000
5,492
5,580
** Fully Cancelled Loan.
Annex 5
Page 9 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
Arab Republic of Egypt
13
Ammonium Nitrate Unit*
14
Kureimat Power Station*
15
Rubber Tires and Tubes Factory Extension*
16
Social Development Fund (Phase I)*
17
Sewerage Projects in 46 Towns*
18
Sidi-Kreir Thermal Power Station*
19
Mitigation of Earthquake Risks*
Amount of Loan
247/90
8,000
Repayments as at 31/12/2012
(8)
Loan No.
Disbursements as at 31/12/2012
Country / Project
-
-
8,000
6,560
-
-
Cancelled Loans and Balances
No.
Disbursements During 2012
(KD 000)
254/91
36,250
3,585
256/91
14,400
11
255/91 270/92 272/92 275/92
10,500
-
733
22
Rehabilitation of Phosphatic Fertilizers Plant in Abu Zaabal*
284/93
4,000
23
Electric Insulations Plant* Float Glass Plant*
25
Soda Ash Plant (Second Loan)*
26
Oyun Moussa Power Station*
27
Construction of a Special Steel Factory*
28
Social Development Fund (Phase II)*
-
21,268
16,088
1,999
1,351
37,637
22,201
15,267
10,236
242
-
3,758
3,123
4,500
484
-
4,000
82
-
309/95
39,000
8,600
346/97
21,000
-
362/98
7,560
15,000
15,000
318/95
-
10,500
-
292/94 295/94
10,319
1
16,000
286/93
14,389
2,000
278/93
24
-
-
6,363
Suez Transformers Station*
21
25,645
14,732
44,000 15,000
Reconstruction of Earthquake- damaged Schools*
32,665
36,000
276/93
20
-
15,000 3,000
384
409 -
29
The Liver Diseases Center
30
Construction of a Flat Steel Plant*
372/98
17,000
79
31
Upgrading the Egyptian National Railroads Authority’s Locomotives and Workshops*
399/2000
16,000
32
Cairo North Power Generation Station*
407/2001
33
Water Supply for 240 Villages Deprived of Potable Water - Phase I
34
Natural Gas Pipeline (Al-Arish - Aqaba)*
35
Nubaria Power Station - Phase I*
36
Nubaria Power Station - Phase II*
-
4,016
9,490
4,016
-
14,616
14,616
-
30,400
16,576
-
21,000
6,804
-
3,918
14,591 -
3,918 9,761 -
-
16,921
16,921
-
2,248
15,489
2,200
27,000
1,707
-
25,293
3,843
420/2001
17,000
-
-
13,110
3,320
427/2002
17,000
4,224
-
12,776
12,776
438/2003
30,000
-
29,896
3,850
434/2002
30,000
-
981
30,000
30,000
-
-
29,319
37
Educational Buildings**
442/2003
38
Water Supply for 240 Villages Deprived of Potable Water - Phase II
432/2002
30,000
-
153
27,459
5,124
39
Talkha Combined Cycle (750 M.W.) Power Generation Station*
461/2004
30,000
-
186
29,442
3,080
40
Development of the Waterway Between Cairo and Alexandria
472/2005
10,000
-
644
2,837
-
41
Expansion of West Cairo Power Generation Station
484/2005
30,000
-
1,476
29,793
-
42
Development of Hurghada International Airport
30,000
-
1,199
29,501
-
488/2006
35,000
-
8,381
-
5,390
16,991
-
-
43
Al-Atf Power Generating Station*
492/2006
44
Expansion of Abu Qir Power Generating Station 1300 MW
513/2007
30,000
-
3,171
24,420
-
45
Expansion of Abu Qir Power Generating Station 1300 MW (Second Loan)
525/2007
30,000
-
3,171
24,420
-
* Completed Project.
** Fully Cancelled Loan. Annual Report 2012
85
Annex 5
Page 10 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
Arab Republic of Egypt
46
El-Ain El-Sokhna Power Generating Station
539/2009
55,000
27,151
-
South Gas Pipeline
554/2010
50,000
-
-
20,847
Banha Power Generating Station
9,508
12,639
-
49
Development of Hurghada International Airport (Supplementary Loan)
559/2010
15,000
-
-
-
-
50
South Helwan Power Generating Station
571/2011
55,000
-
-
-
-
572/2011
30,000
-
-
-
-
1,078,150
88,762
68,930
771,701
346,636
1/74
3,200
-
-
3,200
3,200
12/75
3,900
-
-
3,900
3,900
(9)
Republic of Yemen
1
Mukalla Multipurpose*
2
Electric Power I*
3
Aden Port Rehabilitation*
4
Hodeida Water Supply and Sewerage*
7/74
13/75
25,000
16,966
48
Urgent Program to Support Small and Medium Private Sector Projects and Enterprises Subtotal
530/2008
-
47
51
4,000
-
6,000
727
6,500
-
22A /76
3,800
Mukalla Multipurpose (Supplementary Loan)*
27/76
8
Electric Power II*
9
-
-
20,847
4,000
5,273
-
4,000
5,273
-
-
3,800
3,800
2,600
1,904
-
696
696
32/77
9,000
-
-
9,000
9,000
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*
80/ 56
3,000
7
-
2,993
2,993
13
Electric Power III (Dhamar-Taiz Transmission Network)*
62/81
4,700
-
-
4,700
4,700
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*
5
Taiz-Aden Road*
6
Aden-Taiz Road*
7
17
Electric Power IV (Al-Mokha Power Station)*
18
Potable Water to Rural Areas*
19
Potable Water to Rural Areas*
22B/76
69/81
79/82 87/82
-
-
4,000
42
-
1,500
-
-
6,500
1,300
3,958
1,500
1,300
3,958 1,500
700
80
-
Nashtoun Fisheries Port*
-
3,000
3,000
21
Fifth Pan-Arab Telecommunications (Earth Stations)*
97/82
1,200
-
-
1,200
1,200
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
24
Electric Power III Development (Electrification of Five Towns East of Mukalla)*
122/83
1,500
-
-
1,500
1,500
-
620
6,500
3,000
Annual Report 2012
88/82
1,300
-
90/82
20
* Completed Project.
86
Amount of Loan
Repayments as at 31/12/2012
(8)
Loan No.
Disbursements as at 31/12/2012
Country / Project
Cancelled Loans and Balances
No.
Disbursements During 2012
(KD 000)
620
Annex 5
Page 11 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
Republic of Yemen
25
Fisheries Manpower Centre (FMDC) and the Fisheries Co-operatives (FDC)* Dhamar Water Supply and Sewerage (Supplementary Loan)*
26
Repayments as at 31/12/2012
(9)
Amount of Loan
Disbursements as at 31/12/2012
Country / Project
Disbursements During 2012
No.
Cancelled Loans and Balances
(KD 000)
124/83
1,000
-
-
1,000
1,000
125/83
3,000
7
-
2,993
2,993
Loan No.
27
Rural Development in the Central Highlands*
126/83
236
-
2,764
2,764
Seiyoun Regional Water Supply*
127/83
3,000
28 29
Seiyoun Regional Water Supply Development (Phase II)*
131/84
3,700
61
-
3,639
3,639
30
Geological and Water Mapping of N. Yemen*
132/84
1,200
151
-
1,049
1,049
31
Geological and Water Mapping of S. Yemen*
32
Development of Health Institute*
138/84
1,100
246
-
854
854
33
Strengthening of Sana’a-Taiz Road*
600
1
-
34
Mitigation of Earthquake Risks*
35
Grain Silos**
36
Wadi Hajar Agriculture*
37
Aden-Abyan Electrification Scheme*
38
Nisab-Beigan Road*
39
Electricity Distribution Network (First Loan)*
40
Greater Aden Second Water Supply (Second Loan)*
41
Wadi Jawf Agricultural Development*
42
Aden Water Supply (Supplementary Loan)*
43
Laboos Water Supply*
44
Strengthening Sana’a-Hodeida Road*
45
Lawder-Mukairas Road & Road Maintenance*
46
The FMDC & the FDC (Supplementary Loan)*
47
Zabid-Al Hodeida Road Rehabilitation*
48
Northern Region Agricultural Development*
49
Yemen Power Link Taiz-Aden*
50
Yemen Power Link Aden-Taiz*
51
Al-Mukalla Water Supply*
133/84 147/84 152/84
2,000
1,200 5,600
-
211
247
157/85
8,000
8,000
161/85
5,900
237
4,200
-
160/85 170/86 173/86 174/86 177/86 188/86 189/87 199/87 204/87 205/87 211/88
215/88
3,500 4,200
-
58
2,000
221
1,000
2
3,100
151
989
2,000
989
-
5,353
5,353
-
-
-
599
599
-
3,500
3,500
-
4,142
4,142
-
5,663 4,200 1,779 2,949 998
5,663 4,200 1,779 2,949 998
58
5,500
113
2,500
-
-
2,500
2,176
24
-
8,576
6,035
6,800 1,500
-
37 38
218/88
10,000
62
222/89
3,500
254
220/88
-
2,000
4,000
3,500
217/88
-
8,600 2,850
20
-
3,942
3,942
-
5,387
5,387
-
6,800 1,463 3,462 9,938 2,830 3,246
6,800 1,463 2,428 7,810 2,430 1,852
52
Integrated Rural Development in the Central Highlands*
53
Agricultural Credit*
230/89
54
Wadi Hadramaut Agricultural Development Project (Phase III)**
232/89
3,300
3,300
-
-
-
55
Hojja-Al Khashm Road*
236/90
570
-
2,430
1,935
56
Electricity Distribution Network (Second Loan)*
251/90
3,000
57
SEA-ME-WE II Submarine Cable Project (Second Loan)*
268/92
5,000
1,905
-
3,095
2,215
58
Rehabilitation of Flood-damaged Electricity, Water and Sewerage Facilities in Aden*
288/93
2,500
23
-
2,477
1,577
59
Sana’a Sewerage Treatment Plant*
322/96
8,000
1
-
7,999
4,099
60
Social Development Fund*
350/97
6,000
-
-
6,000
2,106
* Completed Project.
5,500
4,500
8
146
-
-
5,492
4,354
3,922
2,689
** Fully Cancelled Loan. Annual Report 2012
87
Annex 5
Page 12 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
Republic of Yemen
61
Wadi Hadramaut Agricultural Development Project (Phase III)*
62
Sanitation Networks in Sana’a
63
Sayhut - Nashtoun Road*
64
Sana’a International Airport Development
65
Social Development Fund - Phase II*
357/97
4,000
383/99
403/2000
18,000
26,000
702 -
-
-
3,298
808
331
13,310
465
17,540
411/2001
28,000
-
3,000
-
-
-
15,000
425/2002
15,000
-
-
7,132
5,770
9,836
7,150
3,000
3,000
2,835
66
Grain Silos and Flour Mills at Saleef Port (P)*
2P/2002
67
Ma’rib - Sana’a Transmission Lines at 400 k.V. and Upgrading the Electrical Grid*
435/2002
30,000
-
15
26,380
2,920
68
Dhamar - Al-Husseiniya Road
445/2003
15,000
-
2,041
11,883
2,190
69
Construction of Ma’rib Gas-Turbine Electrical Generating Station*
447/2003
25,000
-
2
24,531
3,050
453/2003
15,000
-
50
14,248
2,555
3P/2004
2,000
-
-
2,000
1,650
463/2004
12,000
-
22
9,564
1,677
467/2004
26,000
-
606
7,000
-
-
15,000
70
Major Intersections in Sana’a City
71
Grain Silos and Flour Mills at Saleef Port (Supplementary Loan) (P)*
72
Completion of Sanitation Networks in Sana’a
73
Five-Star Hotel in Sana’a (P)*
74
Rural Access Roads
75
Development of Local Communities (Phase III)*
76
Aden Iron Factory in Lahaj Governorate (P)*
4P/2004
477/2005 5P/2006
6,000
-
15,000
-
-
-
6,000
3,080
15,000
-
19,764
670
7,000
2,990
103
-
6,674
6,674
-
-
48
172
-
3,000
-
-
3,000
825
516/2007
47,000
-
-
-
-
Development of the Coastal Road in Aden Governorate
520/2007
10,000
-
-
44
-
84
Development of Water and Wastewater Facilities in Aden Governorate
526/2008
10,000
-
15
94
-
85
Glass Factory in Sana’a Governorate (P)
9P/2008
3,000
-
-
2,799
-
86
Taez International Airport Development
8,000
-
1,260
6,760
-
88
Major Intersections in Sana’a City (Phase II) 541/2009 10P/2009 Sugar Refinery in Aden (P)
89
Al Mukalla Iron and Steel Factory (P)*
4,800
256
-
4,544
90
Rural Roads Development (Phase III)
91
Protection of Sana’a City from Floods
7,000
-
404
404
480/2005
Wastewater Facilities in Seiyoun and Tarim
482/2005
15,000
-
-
20
15,000
79
Construction of a Second Ma’rib GasTurbine Power Generating Station and the Expansion of the Transmission Grid
502/2006
30,000
-
80
Agricultural and Fisheries Development in the Hadramout Coastal Area
508/2007
12,000
81
Aden Iron Factory in Lahaj Governorate (Supplementary Loan) (P)*
7P/2007
82
Sana’a International Airport Development (Phase II)
83
77
Social Development Fund - Phase III
78
87
* Completed Project.
88
Amount of Loan
Repayments as at 31/12/2012
(9)
Loan No.
Disbursements as at 31/12/2012
Country / Project
Disbursements During 2012
No.
Cancelled Loans and Balances
(KD 000)
Annual Report 2012
533/2008
11P/2009
545/2009
550/2010
7,000 8,250
15,000
-
-
-
-
239
-
356
-
-
-
-
-
(P): Private Sector Project.
Annex 5
Page 13 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
Disbursements During 2012
-
1,500
1,500 -
-
563/2011
12,000
-
-
-
-
Construction of a Second Ma’rib Gas-Turbine Power Generating Station and Expansion of the Transmission Grid (Supplementary Loan)
564/2011
43,000
-
-
-
-
Construction of a 60 MW Wind Farm in the Al-Mokha Area
581/2012
18,000
-
-
-
-
Country / Project
Loan No.
(9)
Republic of Yemen
92
Social Fund for Development (Phase IV)
93
Major Intersections in Sana’a City (Phase III)
562/2011
94
Dhamar - Al-Husseiniya Road (Supplementary Loan)
95
96
560/2010
30,000
-
-
774,700
20,612
13,689
439,800
227,173
38/77
6,000
-
-
6,000
6,000
Subtotal Republic of Lebanon
Amount of Loan
Repayments as at 31/12/2012
Cancelled Loans and Balances
10,000
-
No.
(10)
Disbursements as at 31/12/2012
(KD 000)
1
Electricity Network*
2
Beirut Port*
3
Rehabilitation of Electricity Installations*
263/91
3,157
-
18,843
15,759
Reconstruction and Shelter Rehabilitation*
282/93
22,000
4 5
Rehabilitation of Electricity Installations (Supplementary Loan)*
304/94
7,000
291
-
6,709
4,573
6
Zahrani Power Station*
305/94
30,500
-
-
30,500
21,580
7
Saida and Sour Water Supply*
8
Technical and Vocational Schools
323/96
15,000
8,600
9
Administrative Rehabilitation of Public and Independent Agencies*
10
Rehabilitation of the Infrastructure and Buildings Damaged by the Israeli Aggression*
11
The Lebanese University Project (First Loan)*
12
39/77
317/95
5,000 8,000
-
-
8,000
5,520
6
-
1,586
13,862
325/96
6,000
5
-
5,995
3,243
331/96
13,500
-
61
13,438
5,882
355/97
-
-
23,000
11,220
Syr El-Dania Jbab El-Homr / El-Hermel Road
356/97
23,000
13
Beirut Southern Entrances: KhaldehCocodi and Awzaee Roads*
363/98
12,000
6,076
-
5,924
3,264
14
Interconnecting the Lebanese and Syrian Electric Grids at 400 kV*
400/2000
8,000
-
-
4,072
2,450
15
Conveyance of Litani Water to Southern Lebanon
418/2001
31,000
-
4,631
6,618
1,960
16
Control Center for the Lebanese Power Network
7,000
-
423/2002 430/2002
The Lebanese University Project (Second Loan)*
439/2003
17,000
19
Development of the Road Network and Main Intersections
20
-
-
118
9,994
5,000
10,000
6,000
38
5,000
5,827
6,283
4,560
1,557
570
6,000
-
1,583
1,077
8,771 4,417
1,285
449/2003
30,000
-
931
20,590
2,580
Administrative Rehabilitation
495/2006
9,000
-
265
1,318
-
21
Development of Water and Wastewater Facilities in some Areas in Lebanon
496/2006
25,000
-
712
1,418
-
22
Rehabilitation of Infrastructure Damaged by the Aggression
500/2006
30,000
-
3,646
8,846
-
17
Infrastructure Upgrading in Beirut City
18
-
4,410
* Completed Project. Annual Report 2012
89
Annex 5
Page 14 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
Disbursements as at 31/12/2012
Repayments as at 31/12/2012
23
Rehabilitation of the Private Sector Enterprises Damaged by the Israeli Aggression**
505/2006
25,000
25,000
-
-
-
24
Rehabilitation of Electric Power Installations Damaged by the Israeli Aggression
506/2006
35,000
-
-
-
-
25
Syr El-Dania Jbab El-Homr/ El-Hermel Road (Second Loan)
527/2008
6,000
-
1,189
1,211
-
393,000
36,118
14,254
216,637
110,013
3,000
802
-
2,198
2,198
No.
(10)
Country / Project
Loan No.
Amount of Loan
Cancelled Loans and Balances
Disbursements During 2012
(KD 000)
Republic of Lebanon
Subtotal
(11)
Kingdom of Morocco
1
Telecommunications*
2
Beni Amir Irrigation*
3
Agricultural Credit (First Loan)*
4
Oujda Cement*
5
Gharb Irrigation*
20/76
7,000
1,254
9,000
-
33/77
9,000
54/80
5,000
41/77
-
5,746
5,746
-
-
9,000
9,000
-
-
5,000
5,000
-
9,000
9,000
74/81
7,500
-
-
7,500
7,500
85/82
1,300
1,135
-
165
165
Fifth Pan-Arab Telecommunications (Earth Stations)*
103/82
1,000
-
-
1,000
1,000
10
Agricultural Development in Loukkos Valley (First Loan)*
121/83
7,500
-
-
7,500
7,500
11
Agricultural Credit (Second Loan)*
134/84
8,000
-
-
8,000
8,000
168/85
15,000
4,787
-
10,213
10,213
6
Al-Houz Al-Awsat (First Loan)*
7
Al-Houz Al-Awsat (Second Loan)*
8
Potable Water to Rural Areas*
9
12
Mitigation of Earthquake Risks*
76/82
153/84
7,500
600
-
6
-
-
7,500
594
7,500
594
13
Ait Ayoub Dam for Irrigation & Electricity*
14
Lower Tassaout Irrigation*
176/86
15
Aoulouz Dam and Agricultural Development in Wadi Souss*
191/87
15,000
2,903
-
12,097
12,097
16
Al-Mana’ Barrage and Irrigation of Lands in Al-Gharb Plain*
212/88
17,000
2,863
-
14,137
14,137
17
Ismir Dam and Potable Water for Tatwan Area*
223/89
-
-
3,100
12,000
3,100
Agricultural Credit (Third Loan)*
12,000
900
18
231/89
4,000
12,000
19
Maja’ra Dam*
237/90
50,000
542
-
49,458
38,972
20
Rehabilitation of Flood-damaged Infrastructure*
249/90
2,500
33
-
2,467
2,310
21
5,000
-
-
-
5,000
5,000
Upper Dokala Region Irrigation (Phase I)*
264/91
30,000
3,983
-
26,017
20,746
22
Rabat-Larache Motorway*
267/92
18,000
-
-
18,000
14,935
23
Agricultural Credit (Fourth Loan)*
281/93
5,251
-
12,749
12,749
24
Seedi Al-Shahid Dam*
290/93
18,000
25
Strengthening Internal Power Grid for the Morocco - Spain Interconnection*
299/94
18,500
4,628
-
13,872
10,722
26
Loukkos Basin Agricultural Development (Second Loan)*
300/94
3,000
22
-
2,978
2,158
27
Al-Gharb Plain Irrigation (Phase II)*
303/94
20,000
537
-
19,463
13,061
* Completed Project.
90
10B/75
Annual Report 2012
18,500
2,697
-
15,803
11,825
** Fully Cancelled Loan.
Annex 5
Page 15 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
Loan No.
Amount of Loan
Disbursements as at 31/12/2012
Repayments as at 31/12/2012
(11)
Country / Project
Disbursements During 2012
No.
Cancelled Loans and Balances
(KD 000)
306/95
23,000
3,123
-
19,877
13,728
316/95
10,000
-
-
10,000
7,625
Kingdom of Morocco
28
Rabat-Fes Motorway*
29
Maja’ra Dam (Second Loan)*
30
Combatting the Effects of the Drought*
315/95
2,990
335/96
7,000
13,000
7,000
Morocco-Spain Power Interconnection (Supplementary Loan)*
337/96
7,000
34
Dchar El Oued and Ait Massoud Dams for Electricity, Irrigation and Drinking Water*
344/97
35
Dchar El Oued and Ait Massoud Dams: Financing the Two Hydro-electric Stations*
36
Casablanca-Settat Motorway (Second Section)*
37
31
Potable Water for Meknes City**
32
Agadir and Tantan Fisheries Port*
33
330/96
17,000
-
14,010 -
8,537 -
-
11,905
7,576
3,428
-
3,572
2,326
15,000
5,886
-
9,114
4,794
345/97
15,000
8,796
-
6,204
3,430
364/98
16,000
4,031
-
11,969
5,209
Development of Social Housing in Agadir City*
378/98
18,000
3,634
-
14,366
1,838
38
Ait Hamou Dam and Supplying Greater Agadir City with Water*
380/99
17,000
8,966
-
8,034
3,816
39
Mohammed V Airport Development*
389/99
10,000
-
-
9,377
2,160
40
Afourer Pumped Storage Hydro-Power Plant*
397/2000
25,000
2,736
-
22,264
9,064
41
Casablanca - El-Jadida Motorway*
416/2001
15,000
3,099
-
11,901
4,221
42
Raising of Sidi Mohammed Bin Abdullah Dam and Construction of Boukhamis Dam*
421/2002
18,000
-
-
8,149
4,120
43
Rural Electrification
446/2003
20,000
-
356
19,337
3,990
30,000
15,167
-
14,833
2,943
451/2003
14,000
1,095
-
5,386
-
8,614
2,034
44
Tetouan - Fenidiq Motorway*
45
Settat - Marrakech Motorway (Phase I)*
452/2003
46
Tangier Mediterranean Harbour - Northern Highway Motorway*
460/2004
35,000
5,378
-
29,622
4,272
47
Werkan Dam to Supply Marrakech with Potable Water*
470/2004
7,000
-
-
5,956
800
48
Tangier Mediterranean Harbour - Northern Highway Motorway (Section Three)*
473/2005
20,000
2,921
-
17,079
2,439
49
Marrakech - Agadir Motorway*
485/2005
29,000
262
-
28,738
2,498
50
Wadi Al-Raml Dam to Supply Tangier Mediterranean Port with Water*
486/2005
9,000
-
-
9,000
980
51
Marrakech - Agadir Motorway (Second Loan)*
491/2006
31,000
-
-
31,000
1,780
52
Generalization and Integration of Information Technology in Public School Education*
498/2006
15,000
-
-
4,772
820
53
Rural Roads
503/2006
15,000 30,000
59
2,302
347
13,641 29,941
871
-
-
54
Fes - Oujda Motorway*
512/2007
55
Water Supply for the Provinces of Taounate, Chefchaouen, Sidi Kacem and Tanger Med Port
514/2007
15,000
-
1,005
7,698
-
56
Wadi Martil Dam
517/2007
23,000
-
3,208
15,198
-
* Completed Project.
** Fully Cancelled Loan. Annual Report 2012
91
Annex 5
Page 16 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
(11) 57
Fes - Oujda Motorway (Taza - Oujda Section)* Expansion of Casablanca - Rabat Motorway
59
Zerrar Dam
60
Water Supply of Tangier & Tantan Regions
61
Berrechid - Beni Mellal Motorway
62
Dar Khrofa Dam
63
Tangier Med II Port
64
High-Speed Train Tangier - Casablanca
65
El Jadida - Safi Motorway
534/2008
538/2008 540/2009
5,248
15,000
-
546/2009
Kingdom of Bahrain
20,000 20,000
-
-
3,509
9,221 5,070
2,188
21,752
18,347 10,300 2,188
-
-
-
549/2010
55,000
-
7,909
15,226
-
558/2010
50,000
-
16,038
16,038
-
556/2010 568/2011
579/2012
Subtotal
12,000
30,000
30,000
-
-
-
1,090,900 121,546
2,755 -
2,755
-
-
-
53,908
763,338
349,101
-
-
-
44/77
5,000
-
-
5,000
5,000
Sixth Pan-Arab Telecommunications, Submarine Gulf Cable (Bahrain-Qatar-UAE)*
113/83
3,000
-
-
3,000
3,000
3
Seventh Pan-Arab Telecommunications, Submarine Gulf Cable (Bahrain-Kuwait)**
142/84
3,000
3,000
-
-
-
4
Roads Development*
201/87
-
-
75
10,106
75
Roads Development (Second Loan)*
11,000
5,425
5
258/91
5,500
8,721
6
Development of Suleimaniyah Medical Center (First Loan)*
259/91
21,000
1,002
-
19,998
17,822
7
Development of Suleimaniyah Medical Center (Second Loan)
308/95
11,000
-
-
7,652
7,245
1
Bahrain Power*
2
894
8
The Housing Project (First Loan)*
334/96
15,000
580
-
14,420
9,030
9
Transfer and Distribution of Water from Al-Hidd Desalination and Power Station*
349/97
21,000
1,450
-
19,550
10,814
10
Interconnection of Al-Hidd Production Facility to the Electric Grid*
360/97
10,000
1,112
-
8,888
5,160
11
Production and Utilization of Treated Sewerage Effluent*
367/98
15,000
-
-
11,158
6,880
12
Hidd Industrial Area *
13
The Housing Project (Second Loan)*
14
Bahrain Specialized Hospital (P)*
15
Expansion of the Electric Generation and Transmission Systems*
16
Khalifa Bin Salman Port *
17
Upgrading the Electrical Transmission Network*
18
Replacement of Sitra Causeway Bridge
19 20
370/98
25,000
381/99
20,000 3,000
417/2001
25,000
465/2004
15,000
1P/2001
-
16,878
7,865
-
-
-
20,000
9,720
-
-
20,956
6,480
-
-
9,384
1,620
-
-
504/2006
19,000
7,000
Upgrading 220 kV and 66 kV Electrical Transmission Network
544/2009
Development of Water Supply Network
575/2011
* Completed Project.
478/2005
-
-
14,000
Subtotal
92
27,000
Kingdom of Morocco
58
(12)
Amount of Loan
Repayments as at 31/12/2012
Loan No.
Disbursements as at 31/12/2012
Country / Project
Disbursements During 2012
No.
Cancelled Loans and Balances
(KD 000)
3,000
-
-
-
-
7,000
1,390
30,000
-
3,601
13,054
-
30,000
-
-
-
-
301,500
20,463
3,601
190,120
100,822
** Fully Cancelled Loan. (P): Private Sector Project.
Annual Report 2012
Annex 5
Page 17 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
1
Inter-riverine Settlements*(1)
2
Hargeisa-Borama Road*
3
Goluen-Gelib Road (First Loan)*
4
Trypanosomiasis and Tsetse Control (Phase I)*
5
Third Pan-Arab Telecommunications
6
Mogadishu Water Supply II*
7
Goluen-Gelib Road (Supplementary Loan)*
Repayments as at 31/12/2012
Somali Democratic Republic
Disbursements as at 31/12/2012
(13)
Country / Project
23/76
6,400
1,250
-
4,571
264
36/77
5,500
-
-
5,500
362
Loan No.
35/77 52/79 66/81 73/81 77/82
1,700 5,000
-
-
2,098 1,258
235 -
1,434
-
3,015
-
-
99/82
1,200
-
-
-
-
112/83
5,000
-
-
682
-
143/84
1,500
1,500
-
-
-
23,821
-
861
Mogadishu Electricity
9
Fifth Pan-Arab Telecommunications (Earth Stations)
10
Afgoi-Baidoa Road*
11
Expansion of Gezira Power Station
137/84
Subtotal
(14)
1,600
-
1
80/82
Fisheries Development in the North**
2,500
3,500
8
12
Amount of Loan
Cancelled Loans and Balances
No.
Disbursements During 2012
(KD 000)
2,000
4,800
40,700
-
-
2,751
-
-
3,499
-
1,763
-
-
-
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
5
Nouadhibou Power Station (Supplementary Loan)*
81/82
200
-
-
200
200
6
Potable Water to the Rural Areas*
86/82
400
12
-
388
388
7
Fifth Pan-Arab Telecommunications (Earth Stations)*
104/82
1,200
77
-
1,123
1,123
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
2,820
13
Oases Development (Phase I)*
163/85
3,400
-
-
3,400
2,068
14
Artisanal Fisheries Development in Nouadhibou*
178/86
3,200
425
-
2,775
1,265
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
1,000
19
Boghi-Kehidi Road (Second Loan)*
219/88
3,100
12
-
3,088
691
20
Domestic Satellite Network*
227/89
5,000
11
-
4,989
817
* Completed 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 2012
93
Annex 5
Page 18 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
21
Mhaoudat Iron Ore Production*
22
Nouakchott-Akjojot-Atar Road*
269/92
6,000
-
-
6,000
6,000
2,400
2,000
289/93
6,500
28
-
6,472
Nouadhibou Water Supply*
313/95
10,000
-
175
9,141
6,656
25
Expansion of the Nouakchott Power Generating Station*
336/96
4,600
63
-
4,537
3,767
26
Potable Water for the Interior Cities
23
Oases Development (Phase II)*
24
297/94
343/97
2,400
-
-
74
Alag-Maqtaa Lehjar Road *
1,460
-
2,040
2,040
28
Transmission of Electrical Energy from Manantali Dam to Mauritania*
352/97
8,000
-
-
7,371
3,242
29
Rehabilitation and Construction of 33 Small Dams in the Area Adjacent to Achram*
375/98
3,500
-
-
3,327
1,316
30
Connecting Boghe to the Manantali Electrical Grid*
408/2001
4,000
-
-
3,863
927
31
Debt Reduction*
414/2001
14,000
-
-
14,000
645
32
Nouakchott - Nouadhibou Road *
33
Nouakchott Water Supply from the Senegal River*
454/2003
30,000
-
171
29,865
2,310
34
Expansion of Nouadhibou Power Generation Station
468/2004
7,000
-
-
6,885
855
35
Nouadhibou Water Distribution Network
475/2005
4,000
-
462
3,562
294
36
Power Generation Stations for Interior Cities
2,722
-
481/2005
509/2007
16,000
-
2,000
1,911
11,000
-
-
-
1,870
3,305
640
3,500
419/2001
3,500
-
347/97
27
15,565
89
1,925
3,010
89
37
Atar - Tidjikja Road
38
Developing Water & Road Services in Rural Areas 510/2007
13,000
-
4,050
11,236
39
Nouakchott Water Supply from the Senegal River (Supplementary Loan)*
511/2007
37,000
-
534
33,378
-
40
Lease Financing of Small & Medium-Size Projects and Enterprises (P)*
6P/2007
1,000
-
-
1,000
770
41
Drinking Water and Electricity Emergency Program for the City of Nouakchott*
523/2007
15,000
-
349
13,328
-
-
42
Rehabilitation of Al-Amal Road (Sections II & IV)*
531/2008
19,000
-
1,192
5,970
-
43
Drinking Water and Electricity Emergency Program for the City of Nouakchott (Supplementary Loan)*
535/2008
10,000
-
233
8,592
-
44
Electricity Emergency Program for the City of Nouakchott (Supplementary Loan)*
547/2009
10,000
-
-
8,792
-
45
Water Distribution Network in Nouakchott
555/2010
10,000
-
2,304
3,063
-
46
Upgrade of the Power Generation and Transmission Systems in Nouakchott
569/2011
30,000
-
2,277
2,277
-
47
Supply of Drinking Water to the Region of Aftout Elcharghi
570/2011
8,000
-
54
54
-
48
Water Supply of Eastern Cities and Villages from Dhar Basin
580/2012
20,000
-
-
-
-
375,700
4,725
13,745
274,272
84,334
Subtotal * Completed Project.
94
Amount of Loan
Repayments as at 31/12/2012
Islamic Republic of Mauritania
Loan No.
Disbursements as at 31/12/2012
(14)
Country / Project
Disbursements During 2012
No.
Cancelled Loans and Balances
(KD 000)
Annual Report 2012
(P): Private Sector Project.
Annex 5
Page 19 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
Gas Utilization*
2
Murayrat-Sohar Gas*
3
Telecommunications*
4
Sohar-Buraimi Power Station*
5
Fisheries Development*
Amount of Loan
Repayments as at 31/12/2012
Sultanate of Oman
1
Loan No.
Disbursements as at 31/12/2012
(15)
Country / Project
29/76
6,000
1,517
-
4,483
4,483
120/83
3,000
-
-
3,000
3,000
59/80
129/84 162/85
257/91 266/92
7,000 6,000
203 1,860
-
6,797 4,140
6,797 4,140
302/94
6,000
1,249
-
4,751
4,751
354/97
15,000
-
-
15,000
15,000
388/99
11,000
397
-
10,603
10,603
401/2000
9,500
2,479
-
7,021
7,021
431/2002
4,500
695
-
3,805
3,805
466/2004
22,000
8,667
-
13,333
13,333
479/2005
10,000
4,105
-
5,895
5,895
487/2005
40,000
30,921
-
9,079
9,079
489/2006
20,000
17,175
-
2,825
2,825
501/2006
35,000
35,000
-
-
-
519/2007
60,000
52,700
-
7,300
7,300
507/2007
20,000
-
-
20,000
-
317,500
164,516
-
152,984
132,984
158/85
3,000
2,154
-
846
846
340/97
5,000
-
-
4,831
896
341/97
3,000
1
-
2,999
381
342/97
3,000
-
-
3,000
457
376/98
3,000
300
-
2,700
-
17,000
2,456
-
14,375
2,579
9
Mina Qaboos Port Development*
10
Ghubrah Power Generation and Water Desalination Station*
11
Industrial Estates in Rusayl and Nizwa*
12
Ghubrah Power Generation and Water Desalination Station (Phase V)*
13
Salalah Port Development*
14
Meserrat Water Conveyance System*
15
Rimal Ash-Sharqiyah Water Distribution System*
16
Khassab Port Development Project*
17
Nizwa-Thamrit Road Rehabilitation (Phase II)*
18
Expansion of Salalah Port (Phase II)*
19
Al-Ashkhara - Al-Khuwaymah - Shanna Road*
20
Muscat Southern Expressway*
21
Dualization of Al-Amerat - Quriyat Road*
22
Al Duqm Port**
23
Reconstruction of Basic Infrastructure and Facilities Damaged by Cyclone Gonu*
24
Dualization of Thumrait - Salalah Road*
294/94
310/95
441/2003
Subtotal
Development of Health Services*
4
Rehabilitation of the Education Services*
5
The Rural Development Project* Subtotal
* Completed Project.
1,769
4,623
Natural Gas Utilization (Stage 2 of Phase IV)*
3
-
4,623
3,000
9,500
9,000
6,000
1,231
1,605
821
778
-
-
-
-
1,294
2,973
-
8
Widening and Strengthening of Salah Eldin Road*
2,973
1,377
Water Desalination and Power for the Capital Area*
2
-
3,000
6,000
7
Wadi Far’a Irrigation*
3,000
196/87
Natural Gas Utilization (Phase IV)*
1
27
-
1,706
187/86
Palestine
3,000
-
3,000
6
(16)
3,000
Cancelled Loans and Balances
No.
Disbursements During 2012
(KD 000)
7,895
8,179
5,222
1,294 1,769
7,895
8,179
5,222
** Fully Cancelled Loan. Annual Report 2012
95
Annex 5
Page 20 of 20
Loans Extended to Beneficiary Member States 1974 - 2012
Republic of Djibouti
1
Third Pan-Arab Telecommunications*
2
Djibouti Port Development*
3
Fifth Pan-Arab Telecommunications (Earth Stations)*
4
Expansion of Boulaos Power Station Phase I*
5
Animal Wealth Development*
6
Southwest Asia-Middle East-Western Europe (SEA-ME-WE) Submarine Cable (First Loan)*
7
Development Credit**
8
Telecommunications Development*
9
SEA-ME-WE II Submarine Cable*
10
Modernization of Boulaos Power Station - Phase II*
11
Modernization of the Port of Djibouti (Phase IV)**
12
Social Housing*
13
Development of the Education Sector
14
Modernization of Boulaos Power Station - Phase III*
15
Social Housing (Phase II)
16
Boulaos Power Generation Station Project - (Fourth Phase)*
17
Construction of Djibouti University
18
Rehabilitation of Drinking Water Facilities in Djibouti City
19
Upgrade of the Power Generation and Transmission Systems in the City of Djibouti
20
Port of Tadjourah Subtotal Grand Total
* Completed Project.
96
Annual Report 2012
67/81
1,000
-
-
1,000
1,000
98/82
1,100
251
-
849
849
116/83
3,000
491
-
2,509
2,509
130/84
1,900
10
-
1,890
1,890
171/86
700
700
-
-
-
262/91
1,500 3,000
-
1
-
1,500
1,026
390/99
3,000
3,000
-
-
-
395/2000
5,000
-
1,708
3,000
83
14
4,842
436/2002
-
-
2,917
645
456/2003
6,000
-
-
5,360
435
497/2006
5,000
-
35
824
885
1,452
-
551/2010
9,000
-
-
-
-
10,000
-
Loan No.
89/82
159/85
197/87 373/98
412/2001
471/2004
532/2008
577/2012
Amount of Loan
1,500
1,900
400
4,000
-
2
113
4,000
7,000
72,000 4,652 7,598,053 759,876
-
-
-
-
-
-
-
873 235,026
Repayments as at 31/12/2012
Disbursements During 2012
(17)
Country / Project
Cancelled Loans and Balances
No.
Disbursements as at 31/12/2012
(KD 000)
1,500
1,898
287
2,999
3,693
3,979
-
37,559 5,105,083
1,500
1,898
287
1,183
721
294
-
-
15,944 2,539,893
** Fully Cancelled Loan.
Annex 6
Page 1 of 3
Loans Extended to Finance Inter-Arab Projects, 1974 - 2012 (KD 000)
No.
Country / Project
1
First Pan-ArabTelecommunications:
2
3
Loan No.
5
6
7
9
300
52
-
248
248
Morocco*
10B/75
3,000
802
-
2,198
2,198
Yemen*
22A /76
3,800
-
-
3,800
3,800
Yemen*
22B/76
6,500
-
-
6,500
6,500
55/80
2,000
70
-
1,930
1,930
Jordan*
58/80
5,000
4,433
-
567
567
Syria*
60/80
2,700
918
-
1,782
1,782
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
Algeria*
71/81
4,500
153
-
4,347
4,347
Tunisia*
72/81
3,700
-
-
3,700
3,700
78/82
5,000
-
-
5,000
5,000
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
93/82
6,000
-
-
6,000
6,000
Aden-Taiz Road:
Navigation Inspection Unit: Second Pan-Arab Telecommunications:
Third Pan-Arab Telecommunications:
Fourth Pan-Arab Telecommunications:
Inter-Arab White Cement Industry (Jordan-Syria): Potable Water to Rural Areas:
Tartous-Latakia Motorway:
Syria*
10
Repayments as at 31/12/2012
10A /75
Jordan*
8
Cancelled Disbursements Disbursements Loans and as at During 2012 Balances 31/12/2012
Algeria*
Algeria*
4
Amount of Loan
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
Djibouti*
98/82
1,100
251
-
849
849
* Completed Project. Annual Report 2012
97
Annex 6
Page 2 of 3
Loans Extended to Finance Inter-Arab Projects 1974 - 2012 (KD 000)
No.
11
Country / Project
15
-
-
-
-
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 Gulf Cable (Bahrain-Qatar-UAE):
18
-
3,000
3,000
118/83
4,000
-
-
4,000
4,000
128/83
9,000
-
-
9,000
9,000
Yemen*
132/84
1,200
151
-
1,049
1,049
Yemen*
133/84
1,200
211
-
989
989
-
-
4,373
-
Fifth Pan-Arab Telecommunications Arabsat Earth Station:
141/84
5,000
Seventh Pan-Arab Telecommunications Submarine Gulf Cable (Bahrain-Kuwait):
142/84
3,000
3,000
-
-
-
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
1,900
1,900
-
-
Mitigation of Earthquake Risks:
Pesticides Arab Joint Venture (Syria-Jordan):
* Completed Project. Annual Report 2012
-
Geological and Water Mapping of Yemen:
Syria**
98
3,000
Damascus-Sanamein-Jordan Border Road:
Bahrain**
17
113/83
Zarqa-Almafraq - Syrian Border Road:
Iraq
16
Repayments as at 31/12/2012
1,200
Syria*
14
Cancelled Disbursements Disbursements Loans and as at During 2012 Balances 31/12/2012
99/82
Jordan*
13
Amount of Loan
Somalia
Bahrain*
12
Loan No.
154/84
-
** Fully Cancelled Loan.
Annex 6
Page 3 of 3
Loans Extended to Finance Inter-Arab Projects 1974 - 2012 (KD 000)
No.
19
23
24
25
26
27
-
1,496
1,496
1,700
-
-
1,700
1,700
214/88
8,000
31
-
7,969
7,741
Yemen*
217/88
8,600
24
-
8,576
6,035
Yemen*
218/88
10,000
62
-
9,938
7,810
Jordan*
233/89
10,500
-
-
10,500
10,240
Egypt*
234/89
34,100
3,339
-
30,761
26,525
Tunisia*
243/90
17,800
-
-
17,800
8,640
Libya*
244/90
2,200
784
-
1,416
750
Yemen Power Link:
Jordan-Egypt Power Link:
Tunisia-Libya Power Link:
Strengthening Local Transmission Network within Morocco-Spain Electric Power Link:
Morocco*
299/94
18,500
4,628
-
13,872
10,722
Morocco (Supplementary Loan)*
337/96
7,000
3,428
-
3,572
2,326
Interconnection of Jordan-Syria Electric Power Grids:
Jordan*
311/95
19,500
-
-
19,500
12,495
Syria
312/95
30,000
-
-
28,223
17,290
2,936
-
23,064
10,714
2,590
-
9,410
6,420
Interconnection of Syria and Turkey Electric Power Grids:
26,000
326/96
12,000
Interconnection of the Lebanese and Syrian Electric Grids at 400 kV:
400/2000
8,000
-
-
4,072
2,450
17,000
4,224
-
12,776
12,776
-
-
1,881
349,125 41,520
-
291,666
Natural Gas Pipeline (Al-Arish-Aqaba):
Egypt*
31
314/95
Interconnection of the Libyan and Egyptian Power Grids:
Lebanon
30
185/86
Hama-Saraqeb Road and Ain Eissa-Qintari Road:
Libya*
29
184/86
Tenf Pilot Scheme in Hammad Basin (Inter-Arab):
Syria*
28
Repayments as at 31/12/2012
4
Syria*
22
Cancelled Disbursements Disbursements Loans and as at During 2012 Balances 31/12/2012
1,500
Syria*
21
Amount of Loan
Ruwaishid Pilot Scheme in Hammad Basin (Inter-Arab):
Jordan*
20
Loan No.
Country / Project
427/2002
Arab Gas Pipeline Project - Third stage (Alppo - Kalas Section)
Syria Total
529/2008
10,000
225,023
* Completed Project. Annual Report 2012
99
Annex 7
Grants Committed and Disbursed 1974 - 2012
Beneficiary
No. Amount of Approved Grants
Cancelled Grants and Balances
(KD 000)
Net Percent Amount of Total Approved (%)
Total Disbursements During 2012
Until 31/12/2012
Balance of Grants
A: National Grants
1
Hashemite Kingdom of Jordan
41
7,394
64
7,330
4.3
38
6,067
1,263
2
Republic of Tunisia
11
4,420
133
4,287
2.5
1,390
2,581
1,706
3
Algerian Democratic and People’s Republic
9
1,635
550
1,085
0.6
52
1,077
8
4
Republic of Sudan
23
13,152
690
12,463
7.3
374
8,087
4,376
5
Republic of Iraq
5
820
163
657
0.4
-
657
-
6
Kingdom of Saudi Arabia
9
1,520
58
1,462
0.9
-
852
610
7
Syrian Arab Republic
16
3,820
907
2,913
1.7
81
2,068
845
8
Libya
3
625
300
325
0.2
-
45
280
9
Arab Republic of Egypt
44
15,635
426
15,209
8.9
830
8,800
6,409
10 Republic of Yemen
45
11,206
537
10,669
6.3
141
5,710
4,959
11 State of Kuwait
21
3,201
-
3,201
1.9
398
2,789
412
12 Republic of Lebanon
32
15,356
1,165
14,191
8.3
1,003
8,767
5,424
13 Kingdom of Morocco
25
5,510
254
5,256
3.1
235
4,212
1,044
14 United Arab Emirates
7
194
9
185
0.1
-
185
-
15 Kingdom of Bahrain
11
1,710
115
1,595
0.9
50
1,295
300
16 State of Qatar
1
50
14
36
0.02
-
36
-
17 Somali Democratic Republic
3
320
86
234
0.1
-
234
-
18 Islamic Republic of Mauritania
29
6,235
770
5,465
3.2
462
4,930
535
19 Sultanate of Oman
14
4,725
19
4,706
2.8
-
4,470
236
172
28,515
1,068
27,447
16.1
683
27,326
121
7
1,150
30
1,120
0.7
44
1,108
12
Subtotal
528
127,193
7,357
119,836
70.3
5,783
91,299 28,537
B: Inter-Arab Grants
481
56,220
5,518
50,702
29.7
2,572
45,695
1009 183,413
12,875
170,538
100
8,354
136,994 33,544
113,565
_
113,565
11,412
79,318 34,247
20 Palestine 21 Republic of Djibouti
Grand Total C: Urgent Program to Support Palestine*
* Support decided by the Arab Fund’s Board of Governors to the Palestinan people, over the period 2001 - 2012.
100
Annual Report 2012
5,007
Annex 8
Co-financing Activities of the Fund 1974 - 2012
Total Amount (KD Million)
Percentage (%)
Arab Fund for Economic and Social Development
3,572.0
32.0
Kuwait Fund for Arab Economic Development
1,146.4
10.3
Abu Dhabi Fund for Development
295.5
2.6
Saudi Fund for Development
491.9
4.4
Islamic Development Bank
850.8
7.6
OPEC Fund for International Development
100.1
0.9
Contributors
1-
(A) National and Regional Development Institutions
Iraqi Fund for External Development
5.0
*
Libyan Foreign Bank
3.0
*
Subtotal (B) Other Arab Sources 2-
57.8
525.5
4.7
725.3
6.5
54.3
0.5
652.1
5.8
1,431.7
12.8
2,754.4
24.7
11,176.3
100.0
International Financial Institutions World Bank International Fund for Agricultural Development (IFAD) African Development Bank Subtotal
3-
6,464.7
Foreign Governments and their Development Institutions Grand Total
* Less than 0.1%.
Annual Report 2012
101
Contents
Page No. Member States, Governors and Alternate Governors
3
Board of Directors
5
Basic Financial Data on the Arab Fund as at 31/12/2010
7
Overview of Arab Fund Activities
9
l
First: The Lending Program
13
l
Second: Grants
22
l
Third: Other Activities
30
l
Fourth:Financial Statements for the Financial Year Ended 31 December 2012
33
Annexes
l
l
l
l
l
l
l
l
43 Annex 1 Project Sheets for Loans Extended During the Year 2012
45
Annex 2 Capital, Resources and Status of Loans and Grants, 1972 - 2012
70
Annex 3 Summary of Loans Extended to Member States, 1974 - 2012
74
Annex 4 Sectoral Distribution of Loans Among Beneficiary Member States, 1974 - 2012
75
Annex 5 Loans Extended to Beneficiary Member States, 1974 - 2012
77
Annex 6 Loans Extended to Finance Inter-Arab Projects, 1974 - 2012
97
Annex 7 Grants Committed and Disbursed, 1974 - 2012
100
Annex 8 Co-financing Activities of the Arab Fund, 1974 - 2012
101
Annual Report 2012
103
