The Inter-American Development Bank (IDB) and the Arab Monetary Fund (AMF) signed a memorandum of understanding 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: Deepening cooperation between AMF’s Buna platform and the IDB’s payments work, including the FUSSE 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.
• Climate Finance and Carbon Markets: Advancing shared research and technical work on carbon pricing, green taxonomies, and fiscal incentives. 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.
• Public Sector Asset Management (CAsA Program): Supporting 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 and 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 further enable us to exchange expertise, enhance cross-regional dialogue, and deliver impactful capacity-building initiatives,” said H.E. Dr Fahad M. Alturki, Director General Chairman of the Board of the Arab Monetary Fund.
The memorandum provides a platform for secondments, joint events, and coordinated technical assistance to foster innovation, improve institutional capacity, and drive sustainable finance.
About the IDB
The Inter-American Development Bank (IDB) is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the IDB works with the region’s public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise and knowledge, it promotes growth and well-being in 26 countries. Visit our website www.iadb.org/en
About the AMF
The Arab Monetary Fund (AMF) is a regional Arab financial organization, established in 1976 and operational since 1977. With 22 member countries from across the Arab region, the AMF works to promote economic and financial stability by providing financial assistance, capacity-building, and technical support. The AMF also plays a key role in advancing regional economic integration and enhancing financial cooperation among its members. To learn more, visit www.amf.org.ae
Garcia,Geraldine
