The Mohammed bin Rashid Al Maktoum Foundation (MBRF) has joined hands with Bahrain Development Bank (BDB) to unveil a three-year plan to promote entrepreneurship among the youth in the Arab world.

A high-level delegation from Al Maktoum Foundation met BDB officials in Manama during their two-day visit to the KIngdom to formulate a working plan for the implementation of the MoU signed in July 2008 and announce ways for promoting business initiatives and entrepreneurial activities.

The Foundation’s discussions with BDB are designed to not only create opportunities for the youth, but help the wider community in general.

The discussions are also part of the Foundation’s overall strategy to enter into alliances with regional and international organizations for promoting young entrepreneurs and enhancing their contribution to the overall progress of the region.

Led by Adel Al Shared, vice-chairman and managing director of the Foundation, the delegation members included Sultan Lootah, vice president (Entrepreneurship and Employment sector) and Jamal Al Shehhi, director (Culture Development, Culture Sector). Awadh Seghayer Al Ketbi, CEO, Mohammed bin Rashid Centre for Leadership Development, also accompanied the delegation.

Under the deal, the Foundation will co-operate with the BDB to provide diverse mechanisms including e-programmes and ensure the success of incubation projects. Both organizations will also collaborate to support research and hold workshops on raising awareness on entrepreneurship among the Arab youth.

“We value the alliances we have successfully established with our partners, regionally and internationally. The visit to Bahrain demonstrates our commitment to provide the Arab youth with key tools to access knowledge resources and develop their skills,” remarked Al Shared.

The agreement between the two complements the organisations’ respective strategies towards enhancing opportunities for the youth and motivating them to participate in strengthening economic capabilities through launching new businesses in the Arab world.-TradeArabia News Service