API Chief: Arab financial institutes important for joint Arab coop.

Director of the Arab Planning Institute Dr. Abdullah Al-Shami affirmed on Wednesday the importance of Arab financial institutes in achieving joint Arab cooperation.

This came in a statement for KUNA on the sidelines of the annual joint meetings for Arab financial institutes held in Cairo.

“The keenness of Arab financial institutes and organizations to participate in these meetings comes to achieve the purpose of integration, cooperation and development,” said Al-Shami.

On scientific and economic planning, Al-Shami said that the planning is increasing according to the vision of developed countries, whereas all existing agreements come as part of a scientific framework and strategies in that matter.

On his part, Chairman of the Board of the Arab Bank for Economic Development in Africa, Fahad Al-Dousari said that Kuwait Fund for Arab Economic Development (KFAED) is an active and supportive member of the bank’s operations.

“KFAED is one of the important funds that we look for in any financing operations in t
he GCC. It is important to achieving sustainable development goals in the Arab countries, whether Asian or African,” he said.

“The Arab Bank finances the public and private sectors in cooperation with funds in the GCC, the Arab Bank contributed to more than USD 13 billion to support African countries as well as to support Arab-African cooperation,” he added.

Source: Kuwait News Agency

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