UNDP and Islamic Trade Finance Corporation join hands to fight poverty in the Arab world

The United Nations Development Programme (UNDP) and the Islamic Trade Finance Corporation (ITFC) of the Islamic Development Bank agreed to cooperate in the Arab States region on fighting poverty and creating jobs. 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. It is funded by the International Islamic Trade Finance Corporation as well as the Governments of Kuwait, Saudi Arabia and Sweden and UNDP. The initiative will also be undertaken in technical cooperation with the League of Arab States.