"Ovid" It launches an initiative to enhance trade flexibility in partner countries
Vienna on August 2 / WAM / The OPEC Fund for International Development “Ovid” announced the launch of a new initiative to enhance the flexibility of trade movement in partner countries. The statement, issued by the Fund’s headquarters in the Austrian capital, Vienna, stated that the initiative provides for the facilitation of the arrival of the partner countries to basic imports, and their help to bridge liquidity gaps, and enhance their economies to withstand in the face of external shocks, especially partner countries with weak economies.
The annual meeting of the heads of the Arab Coordination Group institutions (ACG), which discussed ways to enhance development cooperation with the “Ovid” fund, resulted in the pledge of Arab donors to provide two billion dollars over the next five years, to finance the construction of about 650 projects in more than 90 countries, with vital sectors that include energy, water, transportation and digital infrastructure, with the aim of stimulating economic growth in partner countries.
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