MARRAKECH: Kuwait Fund for Arab Economic Development (KFAED) and the Central American Bank for Economic Integration (CABEI) have signed a memorandum 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. Kuwait is partaking in the meetings with a delegation led by Minister of Finance Fahad Al-Jarallah.

Meanwhile, Kuwait Minister of Finance Fahad Al-Jarallah met separately with a number of ministers on the sidelines of the annual meetings of the International Monetary Fund (IMF) and World Bank in Marrakesh. During his meeting with Egyptian Minister of International Cooperation Raniya Al-Mashat, Al-Jarallah, who leads Kuwait delegation to the meetings, praised the distinguished deep-rooted relationship between the two sisterly countries.

The meeting with Bahraini Minister of Finance and Economy Sheikh Salman Al Khalifa focused on the historical sisterly ties between Kuwait and the Kingdom of Bahrain. Al-Jarallah reaffirmed, during his meeting with Yemeni Minister of Planning and International Cooperation Wa’ed Ba-Theib and Minister of Electricity and Energy Mane’ bin Yameen, Kuwait’s support to efforts of the Yemeni government to restore security and stability in the country.

The two Yemeni minister appreciated the role of Kuwait to end the Yemeni crisis and alleviate the suffering of the Yemeni people. Al-Jarallah also received Moroccan Minister of Economy and Finance Nadia Fettah Alaoui where he affirmed Kuwait support to Morocco in its efforts to recover from the devastating earthquake of September 10. He expressed wishes for Morocco to succeed in hosting the ongoing IMF-WB annual meetings which gathered representatives of 190 member countries of both institutions. - KUNA