Abu Dhabi: Dr. Abdul Rahman Al Hamidy, Chief Executive Chairman of the Board of Arab Trade Financing Program (ATFP), said the cumulative value of credit lines agreements the AFTP signed with national agencies in 2013 stood at $828 million (Dh3.03 billion), raising to over $10 billion the total financing it made available since inception.
Al Hamidy told the 25th AFTP General Assembly today in Abu Dhabi that disbursements were at US$842 million last year. Representatives of the shareholders; the Arab Monetary Fund, and the Arab Fund for Economic and Social Development, and a number of Arab financial institutions, central and commercial banks were present at the meeting.
During the meeting, he reviewed the AFTP achievements during 2013 and informed the General Assembly of the new national agencies which stood now at 204.
The meeting approved the annual report and audited closing accounts for the year ending 31 December 2013.
According to financial data 2013, shareholders’ funds rose to over US$1.03 billion from $1 billion due to the increase in the authorised capital consisting of 200,000 shares at a par value of US$5,000 per share.
