On behalf of Prince Talal bin Abdulaziz, President of Arab Gulf Program for United Nations Development Organizations (AGFUND), Eng. Yosef bin Ibrahim Al-Bassam, AGFUND's Vice-President, chaired here today the 60th meeting of AGFUND's Management Committee. The meeting approved financing of 16 projects in a number of developing countries. It also increased AGFUND's 11th Prize amount to $ 500,000. Eng. Al-Bassam is also the Representative of Saudi Arabia to AGFUND, Chairman of Board of Directors of Saudi Industrial Development Fund, and Director General of Saudi Fund for Development (SFD).