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by UNDP

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At least three funding mechanisms – the Saudi Fund for Development, the Kuwait Fund for Arab Economic Development and the Abu Dhabi Fund for Development – currently finance projects or contribute to debt relief in scores of developing countries, mostly in Africa.

In its latest report on South-South Cooperation, the United Nations singles out the 44-billion-dollar Islamic Development Bank, established by the Organisation of Islamic Cooperation (OIC) in Jeddah, Saudi Arabia, whose portfolio of loans and investments has been spread over many Islamic countries in Africa and Asia. At the same time, the nine-billion-dollar Arab Fund for Economic and Social Development has been providing soft loans to governments and to public and private corporations.

Available at: http://ssc.undp.org/content/ssc/news/articles/2014/south-south-cooperation-takes-off-in-arab-world.html 

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