On Tuesday 2 June 2015, the General Assembly of the Arab Center for Agricultural Development (ACAD) held its annual meeting at its headquarters in Ramallah, in the presence of the majority of its members.

During the meeting, the General Assembly approved the audited financial report for 2014, which was presented by Deloitte Audit representative. The report pointed out that the total liabilities and net assets amounted to $3,88 million.

Engineer Judah Al-Jamal, the chairman of ACAD’s Board of Directors, presented the activities report of 2014, pointing out that ACAD have implemented 14 developmental projects throughout the Palestinian governorates with over $750 thousand. The implemented projects included a variety of fields such as training, reclamation of agricultural lands, water, lobbying and advocacy, provision of relief assistance, emergency projects, and etc. He also clarified that for the first time ACAD has implemented projects that exclusively target persons with disabilities.

The report also reviewed ACAD’s financing and lending activities, referring that ACAD through its financing arm, ACAD Finance, funded 1,350 income generating projects at $5 million in different economic sectors in 2014. Among these projects, more than 60% are projects run by women while projects implemented in rural areas and refugees camps exceeded 72% of projects financed by ACAD.

The report added that in commitment with the instructions of the Palestine Monetary Authority (PMA), ACAD in partnership with international investors including the European Investment Bank (EIB) established in 2014 a specialized lending institution with a capital of $5,35 million in which ACAD’s share exceeds 56%.

At the end of the meeting, the General Assembly approved the acceptance of five new members having experience in the field of civil and developmental work and who expressed their willingness to join ACAD’s General Assembly.