The Ministry of Finance and the World Bank (WB) have signed an agreement on the legal arrangements of technical assistance the latter will offer in fields of land management and assessing indices of government spending and financial accountability, the ministry said in a statement on Monday. The agreement is part of the strategic partnership between the State of Kuwait and the WB, it added.
The ministry is seeking to benefit from the WB's expertise, and the technical cooperation program in the field of technical consultations and assistance based on developing the public sector, and bolstering the role of the private one, human development and building capacities.
The land management program in Kuwait aims to enhance the capability of the state property department, in addition to preparing a document on the relevant national policy.
This is likely to help make the best use of state-owned land through sound management for diversification of sources of income, the ministry said.
The program on government spending aims to benefit from the WB expertise for assessing indices of financial management systems, practices and measures, in line with the relevant world criteria. It also seeks to promote performance of public finances and boost governance in the country. The agreement was signed on Sunday by Finance Ministry Undersecretary Khalifa Hamada, and WB regional director Nader Mohammad.