AFESD strengthens ties with IMF to harness AI for regional economic growth
The Arab Fund for Economic and Social Development (AFESD) confirmed its commitment to enhancing collaboration with the International Monetary Fund (IMF) in areas where artificial intelligence (AI) can drive comprehensive economic growth across member states.
This announcement followed a visit to Kuwait by the IMF delegation led by Kristalina Georgieva, during which the team met with AFESD Managing Director and Board Chairman Fawzi Al-Hanaif, the executive leadership, and key department heads.
During the visit, bilateral discussions and a dialogue session explored strategies for leveraging AI and other technological innovations to stimulate economic development in the Arab region.
Al-Hanaif highlighted the significance of the visit, noting that it comes at a pivotal moment as AI increasingly shapes the global economic landscape.
He emphasized that the Arab Fund aims to harness this technological revolution to boost growth, create a roadmap for a regional economy powered by AI, and promote integration and sustainable development.
He added that these efforts underscore the Arab Fund’s vital role as a leading regional institution, committed to fostering innovation and addressing critical development challenges.
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