Abu Dhabi, UAE — The Arab Gulf Programme for Development (AGFUND) has signed a Memorandum of Understanding (MoU) with the Arab Monetary Fund on Wednesday to achieve sustainable development goals in the Arab region through financial inclusion.
The MoU will focus on supporting micro, small and medium-sized agricultural projects, and digital financial transformation, which contributes to accelerating the economic growth and creating job opportunities in the region, in addition to supporting legislations and supervisions of the financial systems including microfinance, according to the Saudi Press Agency.
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 Arab Monetary Fund.
AGFUND also announced its support for the comprehensive economic reform programme signed between the Arab Monetary Fund and the Yemeni government, funded by Saudi Arabia.
The programme will include training, capacity-building, and technical support in the areas of financial inclusion to achieve sustainable development goals.