A Memorandum of Understanding (MOU) on Development Cooperation was signed today between the Kuwait Fund for Arab Economic Development (KFAED) and Sweden, represented by the Swedish International Cooperation Agency (Sida). The MOU aims to establish a framework for enhancing international cooperation in countries of mutual interest where both institutions seek to implement projects and programs in the fields of social, economic, sustainable development, and infrastructure, while exchanging technical expertise and respecting each institution’s policies and priorities.

The MOU was signed by Dr. Jakob Granit, Director General of Sida, and Mr. Waleed Al-Bahar, Acting Director General of KFAED, during the visit of the Director General to KFAED in Kuwait City.

The MOU seeks to coordinate the cooperation of the two institutions by focusing on several specific activities that suit their respective mandates and operational policies, especially in countries where both have active programs. The most important areas of cooperation mentioned in the MOU include the following:

1. Early identification of projects that qualify for support by both institutions, either in the form of project financing and/or provision of technical assistance, according to the policies and operational methods of each institution.

2. Conducting consultations from time to time to coordinate operations and activities in areas which lend themselves to such coordination in common partner countries, including but not limited to Ukraine and Syria.

3. Strengthening cooperation in priority sectors for the institutions, which are expected to include, without being limited to, agriculture and food security, water supply and sanitation, education and health.

4. Exchange of information and promotion of knowledge-sharing to benefit from each other’s experience, resources and expertise.