The Arab Gulf Programme for Development (Agfund) has signed a MoU with the Arab Monetary Fund to promote economic development and achieve sustainable development goals in the Arab region through boosting financial inclusion and enhancing the role of the 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, reported SPA.

 

The deal was co-signed by Agfund President Prince Abdulaziz bin Talal bin Abdulaziz and Dr Abdulrahman bin Abdullah Al Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund.

 

On the sidelines of the meeting, Agfund announced its support for the comprehensive economic reform programme signed between the Arab Monetary Fund and the Yemeni government, funded by the Kingdom of Saudi Arabia, stated the report. 

 

The programme, which extends until 2025, aims to establish the foundations of economic stability in Yemen, strengthen the state’s public finances and external position, rebuild its institutions, and promote comprehensive and sustainable economic growth, it added.