Arab League commends Kuwait, Lebanon economic initiatives

His Highness the Amir representative, Deputy Prime Minister and Foreign Minister Sheikh Sabah Khaled Al-Hamad Al-Sabah returns home from Beirut.

Arab League Secretary General Ahmad Abul Gheit Sunday praised initiatives by Kuwait and Lebanon to establish a fund for technology and digital economy, as well as create an Arab bank for reconstruction.

Kuwait Amir, His Highness Sheikh Sabah Al­-Ahmad Al­-Jaber Al­Sabah, announced the creation of the fund to support technology and digital economy with a capital of USD 200 million. Kuwait and Qatar contributed USD 50 million each.

Lebanese President Michel Aoun called for the establishment of an Arab bank for reconstruction to contribute to development. Abul Gheit said the Arab League would pursue these initiatives in the next four years until the next summit in Mauritania.

“I think this summit is the summit of the Arab citizen … because it assigns everyone to serve the citizen in a direct manner,” Abul Gheit told a joint news conference with Lebanese Foreign Minister Jibran Bassil.

This summit, he added, focused on education, digital economy, role of woman, youth, private sector, entrepreneurship and technology.

He hoped the Lebanese presidency of the summit would pursue the implementation of the initiatives. Bassil also commended the Kuwaiti initiative, and thanked Kuwait and Qatar for pledging half of the amount.

This fund, said Bassil, was important in knowledge economy, creating jobs and addressing unemployment. Bassil also praised Aoun’s call to establish an Arab bank for reconstruction and the call on the specialized funds to discuss this creation in three months.

Source: KUNA