Marrakesh, Morocco— Kuwait Fund for Arab Economic Development (KFAED) and the Central American Bank for Economic Integration (CABEI) have signed a memo of understanding (MoU) to create a joint technical cooperation framework in developing countries’ development finance field.
The memo was signed by KFAED’s Director-General Waleed Al-Bahar and CABEI’s Executive Vice President Jaime Palacios, KFAED said.
It is mainly aimed at bilateral coordination for response to humanitarian crises and natural disasters and as well as the exchange of information and technical expertise, it added in a press release.
The signing of the MoU came on the sidelines of the annual meetings of the World Bank (WB) and International Monetary Fund (IMF) held in the Moroccan city of Marrakech, with world finance ministers, central bank’s governors and finance institutions attending, it said.
The State of Kuwait is partaking in the meetings with a delegation led by Minister of Finance Fahad Al-Jarallah.
