KFAED, Sweden ink MoU to enhance int'l development cooperation

KUWAIT, Feb 8 (KUNA) -- The Kuwait Fund for Arab Economic Development (KFAED) on Sunday signed a memorandum of understanding (MoU) with Sweden, represented by the Swedish International Development Cooperation Agency (Sida), aimed at establishing a framework for international cooperation between the two sides.
In a press statement, the KFAED said the MoU seeks to enhance cooperation in areas of mutual interest, particularly in countries where both parties are implementing ongoing projects and programs.
The statement noted that the MoU provides a framework for cooperation in social, economic and sustainable development, infrastructure projects, and the exchange of technical expertise, while taking into account the policies and priorities of each party.
Cooperation under the MoU is expected to focus on several specific activities consistent with the mandates and operational policies of both institutions, especially in countries where both have active programs, it added.
Among the key areas of cooperation outlined in the MoU is the early identification of projects eligible for support from both institutions, either through financing or the provision of technical assistance, in accordance with each institution's policies and operational procedures.
The statement also noted that the MoU includes conducting consultations from time to time to coordinate operations and activities in areas where such coordination is possible in shared partner countries, particularly, but not limited to, Ukraine and Syria.
It further highlighted that priority sectors for cooperation include, but are not limited to, agriculture and food security, water supply and sanitation, education, and health, in addition to exchanging information and enhancing knowledge sharing to benefit from the expertise, resources, and capacities of both sides.
The MoU was signed by Acting Director General of the Kuwait Fund Waleed Al-Bahar and Director General of the Swedish International Development Cooperation Agency Dr. Jakob Granit. (end) mdh.aa