IslamicFinance.de

The United Nations Development Programme (UNDP) and the Islamic Trade Finance Corporation (ITFC) of the Islamic Development Bank agreed today to cooperate in the Arab States region on fighting poverty and creating jobs. The first area of joint work is an initiative to boost employment through trade reforms. The newly-signed Aid for Trade Initiative for Arab States will spearhead trade reforms in Arab countries in the Middle East and North Africa with the aim of bringing about pro-poor economic growth. The Aid for Trade Initiative for Arab States was endorsed by the 3rd Arab Economic and Social Development Summit, held in January 2013. It is funded by the International Islamic Trade Finance Corporation -- a unit of the Islamic Development Bank Group -- as well as the Governments of Kuwait, Saudi Arabia and Sweden and UNDP.