The Islamic Development Bank (IDB), Saudi Arabian lender, and United Kingdom International Development Department signed on Sunday a memorandum of understanding (MoU) which aims at enhancing coordination and cooperation between the two sides in the fields of combating poverty and reducing unemployment.
According to a press statement marking the occasion, the MoU was signed by Ahmad Mohamed Ali, the President of Islamic Development Bank (IDB), and British Minister of State for International Development Alan Duncan who represented the UK International Development Department.
Ali asserted the IDB’s keenness to support and cooperate with all parties involved to combat poverty and bolster development in all member countries.
IDB Chief added that the MoU comes as a result of recommendations issued by the G8 summit to support countries which witness change in the Middle East and North Africa.
Ali also noted that the agreement would deal with exchange of experts and employees among the two bank’s members aiming to boost development efforts and unemployment in member countries this year. For his part, Duncan expressed pleasure for the level of already established cooperation with IDB and its efforts for development and progress to member countries.
Duncan added that MoU would bolster the two sides’ goals and joint development, particularly in the combating poverty and unemployment worldwide, Kuwait News Agency reported.