The Kuwait Fund for Arab Economic Development concluded today in the French capital, Paris, a memorandum of understanding for development cooperation with the French Development Agency of the Government of the French Republic, aiming to establish a framework for technical cooperation and joint action between the two sides in the fields of financing economic and social development in developing countries and bilateral coordination in response to humanitarian crises and natural disasters. Exchanging information and technical expertise.

The Memorandum of Understanding was signed by the Acting General Manager on behalf of the Fund

 

This memorandum is valid for a period of five years, subject to renewal. It is hoped that the cooperation of the parties will focus on a number of specific activities that suit the purposes of each of them, especially in the developing countries in which the two parties are present. The most important areas of cooperation mentioned in the Memorandum of Understanding are summarized as follows:

1. Exchanging information and enhancing the exchange of knowledge to benefit from the experiences, resources and expertise of each party. Potential areas of common interest may include information on operations and technical assistance programs related to poverty eradication, and the promotion of social and economic development and sustainable development in partner countries, taking into account the issues of climate change and biodiversity.
2. Consultation on economic and social development policies, development support and sectoral issues of common interest, and coordination of operations and activities in partner countries, taking into account the work mechanisms and guidelines of each party.
3. Identifying projects and programs eligible for support from both parties, either in the form of parallel funding or technical assistance, with identifying common sectors of intervention, including climate change issues as comprehensive issues, with a focus on developing countries in the continents of Asia, Africa and the Middle East.
4. Exchanging publications and studies of a general nature conducted by the French Development Agency or the Kuwaiti Fund and participating in forums, seminars and workshops conducted by each party on development issues of common interest.