The Arab Gulf Programme for Development (AGFUND) signed a memorandum of understanding (MoU) with the Arab Monetary Fund (AMF) to promote economic development and achieve sustainable development goals in the Arab region.
The developmental programme is to be done through boosting financial inclusion and enhancing the role of financial inclusion.
The MoU will focus on supporting micro, small and medium-sized agricultural projects, and digital financial transformation to accelerate the economic growth and creating job opportunities in the region.
It also envisages supporting legislations and supervisions of the financial systems, including microfinance.
The cooperation will also include training programmes, capacity-building, and technical support in the areas of financial inclusion to achieve sustainable development goals.
The MoU was co-signed by Prince Abdulaziz bin Talal, President of AGFUND, and Dr. Abdulrahman bin Abdullah Al Hamidi, Director General and Chairman of the Board of Directors of the AMF.
On the sidelines of the meeting, AGFUND also announced its support for the comprehensive economic reform programme signed between AMF and the Yemeni government, funded by Saudi Arabia.
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