Based on the belief in the importance of supporting entrepreneurship and enhancing innovation as a basic pillar of economic and social development in Yemen, this morning, Sunday, a memorandum of understanding was signed between the World of Business Company for Investment and Limited Studies and the Cooperative and Agricultural Credit Bank (CAC Bank), to establish an investment fund to support innovative startups.

The agreement was signed by the Cooperative and Agricultural Credit Bank (CAC Bank), Assistant CEO of the Business Development Sector, Mr. Muhammad Dirham Abu Hatim, and the Business World Company for Investment and Studies Ltd. CEO Dr. Rabie bin Ali Al -Obathani, at the company’s headquarters in Mukalla City.

The Memorandum of Understanding aims to enable entrepreneurs and innovative projects to reach the sources of financing, and to provide an investment environment that stimulates growth in multiple vital sectors, in order to enhance the contribution of innovative startups to advancing economic development.

After signing the memo, the Kak Bank delegation visited the Hadramout International Society College building, where he was briefed at the level of achievement in the college that the business world company supervises to establish, and he also got acquainted with a group of startups that are embracing and developing within the construction programs of startups supervised by the business world company.

This cooperation confirms the commitment of both the Cooperative and Agricultural Credit Bank and the Business World Company to support innovation and qualitative initiatives that contribute to building a more prosperous and sustainable economic future in Yemen.