AESDF to grant $50 million in support of Al Quds

Manama, Apr. 6 (BNA): Kuwaiti Finance Minister Anas Al Saleh said the joint annual meeting of Arab financial and monetary agencies came up with a recommendation to grant $ 50 million in support of Al Quds from the Kuwait-based Arab Economic and Social Development Fund (AESDF). On the side-lines of his participation in the Arab financial and monetary agencies meetings, the Kuwaiti minister told Bahrain News Agency (BNA) that these meetings are expected to yield numerous recommendations aimed to boost Arab joint work in terms of financing development projects in Arab countries and fronting the challenges of oil price slump. He said there are incessant efforts by Arab financial institutions and monetary funds in a bid to support Arab development as a whole and the region's people, especially as the region's budgets are experiencing big fiscal crunch resultant from plummeting oil prices. Al Saleh opines that the drop in crude oil price was not positive, pointing out there is ongoing coordination between the region's countries to maintain the components of dignified livelihood for Gulf and Arab peoples, praising the Kingdom of Bahrain's good organizing of the joint annual meetings of Arab financial bodies for the first time which reflects the Kingdom's leadership in hosting economic and financial conferences to support Arab economies.