WASHINGTON, CMC – The Inter-American Development Bank (IDB) says it has signed a memorandum of understanding (Mo) with the Arab Monetary Fund (AMF) to strengthen cooperation on strategic issues for financial development in Latin America, the Caribbean, and the Arab region.
The agreement focuses on three flagship areas of collaboration: payment systems, climate finance, carbon markets, and the Public Sector Asset Management (CAsA Programme).
Under the payment systems, the agreement calls for deepening cooperation between AMF’s Buna platform and the IDB’s payments work, including the FUSE initiative, which currently works at the local level only. This includes joint technical assistance and knowledge exchange to promote more efficient, interoperable cross-border payment systems.
Regarding climate finance and carbon markets, advancing shared research and technical work on carbon pricing, green taxonomies, and fiscal incentives will be undertaken. The two institutions will also coordinate ahead of COP30 and collaborate through key events such as the AMF’s Green Finance Meeting and IDB-led climate forums.
The CAsA Programme will support treasury modernization across the public sector through secondments, technical workshops, and advisory services focused on complex financial instruments and analytics.
“This agreement represents a significant milestone in strengthening ties between Latin America, the Caribbean, and the Arab world. By partnering with the Arab Monetary Fund, we’re deepening cooperation on real-time payment systems, advancing joint research on carbon markets and climate finance, and public sector asset management through treasury modernization,” said IDB President Ilan Goldfajn.
“Our collaboration with the Inter-American Development Bank reflects a shared commitment to advancing financial innovation, institutional development, and economic sustainability across our regions. This partnership will enable us to exchange expertise, enhance cross-regional dialogue, and deliver impactful capacity-building initiatives,” said Dr Fahad M. Alturki, Director General Chairman of the Board of the AMF.
The memorandum provides a platform for secondments, joint events, and coordinated technical assistance to foster innovation, improve institutional capacity, and drive sustainable finance.
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