Kuwait Fund for Arab Economic Development and Turkish Investment Fund (TRIK) Sign MoU to Enhance Cooperation

The Kuwait Fund for Arab Economic Development signed a memorandum of understanding with the Turkish Investment Fund (TRAKYAP) to enhance cooperation between the two institutions through the coordination of activities and exchange of technical expertise, in accordance with the policies, priorities, and mandates of each.

The memorandum was signed by Rashid Al-Badr, Acting Managing Director of the Kuwait Fund for Arab Economic Development, and Baghdad Amriyev, President of the Turkish Investment Fund (TRAKYAP), on the sidelines of the 2026 Annual Meetings of the World Bank Group and the International Monetary Fund in Bangkok, the capital of Thailand.

In a statement to KUNA, Al-Badr said that the areas of cooperation include a number of activities aligned with the operational policies and strategic objectives of both institutions, particularly in countries where both parties are active. A key aspect is the early identification of projects that could receive support from the two institutions through financing, technical assistance, or both, in line with the policies and working methods adopted by each.

He added that the cooperation areas also include periodic consultations to coordinate operations and activities in fields that allow for such coordination, as well as the exchange of information and knowledge, and the leveraging of the expertise, resources, and capacities available to both sides.

He clarified that this memorandum reflects the Kuwait Fund’s commitment to expanding its international partnerships and strengthening cooperation with development institutions, thereby facilitating the exchange of expertise and exploring new opportunities for cooperation in financing and supporting priority development projects of common interest.