| dc.description.abstract | The events of the early 1970's -- preceded by gradual changes which culminated in the war of 1973 and the oil price increases of October that year -- created realities that cannot be comprehended through conventional categories used in the past. Outsiders generally view the Arab world in terms of population, agriculture, industry and the like. In the West, the prevailing view was that the Arab world was poor, despite new wealth in oil-rich countries, and that its economic problems were basically those of increasing rates of growth, per capita income, and managing propensities for urban living. By the same token, the countries of the region were defined as "democracies," "monarchies" or "dictatorships" as the case might be. Arab countries were regarded as "good" or "bad" depending on the cold war politics of the time. Arab states, whatever their form of government, were then defined as "pro-West", "pro-East" or non-aligned, the implication being that political choices were limited to these three possibilities.[2]
Lending can often be quite complex, given scarcity of personnel and difficulties in evaluating projects. The Abu Dhabi Fund (ADFAED), Saudi Development Fund (SDF), Iraq Fund for External Development (IFED), and Kuwait Fund for Arab Economic Development (KFEAD) are all bilateral, administered by one country, and generally disbursed to individual recipients or occasionally an organization. Multilateral funds include Arab Fund for Economic and Social Development (AFSED), Arab Bank for Economic Development in Africa (ABEDA), and the OPEC Special Fund. Other lending facilities include the Arab Authority for Agricultural Investment and Development, the Arab Monetary Fund and the Arab Africa Oil Assistance Fund. | en_US |
