Khalifa Fund for Enterprise Development and Emirates Foundation for Youth Development signed a MoU for co-operation in social development section and to implement initiatives with social impact.

“This aims to create a framework to exchange knowledge and experience between both parties and to find a solid base of co-operation, said Khalifa Fund CEO Abdullah Saeed Al Darmaki after signing the MoU with Emirates Foundation CEO Clare Woodcraft.

"The fund will work with Emirates Foundation to launch programs and initiatives aiming to motivate and inspire the youths in UAE, and empower them to participate in the development in UAE in general and Northern Emirates in particular. That will allow the Fund to build strategic partnership with the semi government entities in the UAE," said Al Darmaki.

“There are many common areas between Khalifa Fund & Emirates Foundation as both parties work on developing the youths and enhancing their capabilities," he stated.

"The Fund will provide technical and counselling services that enable the Emirates Foundation to convey the social initiatives to socio-economic innovative initiatives. We will work on changing the common perception about the nature of social services and the way to benefit from," added Al Darmaki.

Commenting on the deal, Woodcraft said: "We believe we can achieve much by working more closely together through this MoU. We have firm belief that the efficient deployment of philanthropic capital can only be done through collaboration."

"Agreements like this mean we can combine our resources to collectively have more impact on some of the pressing social issues of our time and notably in supporting youth," she stated

"Our organizations share a very similar philosophy on the importance of social investment and the need to run philanthropic programs efficiently in order to deliver maximum social impact," added Woodcraft.-TradeArabia News Service