KUWAIT CITY, May 10: Kuwait Fund for Arabic Economic Development (KFAED) signed Tuesday a memorandum of understanding (MoU) with the International Federation of Red Crescent and Red Cross Societies (IFRC) and the Kuwaiti Red Crescent (KRCS). In a statement to KUNA, KFAED Director General Marwan Al-Ghanim said that the MoU is an essential step for setting up a joint cooperation mechanism that enhances the role of the three sides. He also added that this memorandum keeps pace with the objectives and areas of common interest between the three parties, not to mention the exchange of practical experiences and cooperation.

For her part, KRCS Director General Maha Al- Barjas affirmed that this tripartite memorandum is a consolidation of its efforts to provide humanitarian support in the world. The MoU establishes a framework between the parties over a period of five years with the aim of enhancing cooperation in areas of common interest and in the countries in which the three parties are active. This cooperation seeks to enhance joint action in programs to improve sustainable livelihoods, maintain peace and disasters prevention. Moreover, it will provide the opportunity to participate in forums, seminars and workshops organized by the parties. (KUNA)