Funds and institutions of the Arab Development aid have been reviewing means of activating the initiative of Prince Talal bin Abdulaziz, the President of AGFUND, pertaining to the establishment of an Arab-African fund for small loans. The initiative aims at fighting poverty and realizing development goals in the third millennium. AGFUND will host the 56th periodical meeting for the Arab aid funds and institutions on Monday in Riyadh. The participants of the 3-day meeting are scheduled to discuss means of financing joint projects as well as the proposal of establishing the Arab-African fund. Moreover, the participants of the meeting will review the future of the information work for the group and an information strategy proposed by AGFUND. In addition to AGFUND, the group includes the Islamic Development Bank (IDB), OPEC Development Fund, Abu Dhabi Development Fund, the Saudi Fund for Development, the Arab Fund for Economic and Social Development, the Kuwaiti Fund for Economic Development, the Arab Bank for Economic Development in Africa. Prince Talal bin Abdulaziz presented the initiative of establishing the Arab-African Fund at a meeting held in Amman last October.
