Joint Statement of the UN Capital Development Fund (UNCDF) and the Kuwait Fund for Arab Economic Development (Kuwait Fund) on the Memorandum of Understanding to Support Sustainable Development, including Confronting Climate Change, Supporting Digitalization and Post-Covid-19 Recovery

With the acknowledgement of the necessity for ensuring sustainable development in the world’s developing countries and least developed countries in order to achieve the Sustainable Development Goal agenda as well as to promote cooperation and friendship among nations, the parties entered into a Memorandum of Understanding to establish a framework of cooperation.

The Memorandum of Understanding will outline several areas of cooperation between UNCDF and the Kuwait Fund that relate to identified issues of common interest, including but not limited to: to sustainable development; support to the access to public and private finance for the poor; climate change and adaptation; digitalization; and post-COVID-19 recovery.

The Memorandum of Understanding will focus on specific avenues of collaboration including, but not limited to, information and promotion of knowledge-sharing to benefit from each other's best practices and expertise; exchange of publications and studies of a general and specific nature undertaken by UNCDF and the Kuwait Fund; and participation in common forums, seminars, or workshops on matters of common interest.

The Memorandum of Understanding will also establish a mechanism of regular consultations to coordinate operations and activities in the recipient countries, taking into consideration the respective mandate, objectives, and guidelines of the Parties.