FONPLATA and KFAED (Kuwait Fund for Arab Economic Development) will work together to support their member countries in different areas, especially in relation to climate change and food security.

The purpose of this agreement is to establish a framework for cooperation between both institutions to enhance collaboration in areas of common interest in the countries where projects and programs are being developed.

Collaboration will focus on the exchange of information and knowledge, especially through technical assistance operations and programs related to poverty alleviation, promotion of socioeconomic development, and sustainable resource recovery. Efforts will also be made to identify projects that qualify for funding or assistance services provision.

KFAED is a bilateral funding agency established in 1961 by the State of Kuwait to support Arab countries, and other developing nations, to achieve their social and economic goals.

This alliance, signed on October 23 during the International Monetary Fund (IMF) and the World Bank Group Annual Meetings, will enable FONPLATA to extend its lines of action to new regions, thus   fostering the growth of the Development Bank.

10/24/2024