RABAT, Dec. 14 (Xinhua) -- The United Nations Economic and Social Commission for Western Asia (ESCWA) announced on Thursday it will provide more than 177 million U.S. dollars to support Small and Medium Enterprises (SMEs) in the Arab world.
In a statement released at the closing of the second Arab SMEs Summit held in Morocco, ESCWA said the agency will also digitize 200 enterprises that have not yet embraced e-commerce and train 55,000 young men and women to develop their skills.
ESCWA Executive Secretary Rola Dashti said the agency "will help SMEs network among their Arab peers and reach external markets."
ESCWA also sponsored the signature of a memorandum of understanding between the International Islamic Finance Corporation and the Arab Gulf Program for Development to enhance cooperation in joint programs and offer needed funding to boost bilateral trade among member states, added the statement.
The second Arab SMEs Summit, which kicked off on Dec. 12 in Marrakesh, was organized by ESCWA and the Moroccan Ministry of Economic Inclusion, Small Enterprises, Employment and Skills. It was attended by 1,300 participants, including entrepreneurs, investors and policymakers. ■
