Latest news with #ArabCoordinationGroup
Leaders
23-05-2025
- Business
- Leaders
Arab Coordination Group Partners with Private Sector to Drive Sustainable Development
The Arab Coordination Group (ACG) hosted a flagship session titled 'Partnering for Impact: The Arab Coordination Group and the Private Sector Driving Sustainable Development' during the Private Sector Forum of the Islamic Development Bank (IsDB) Group. This session took place alongside the IsDB Group Annual Meetings in Algiers. The event spotlighted key initiatives, strategic investments, and pioneering success stories led by ACG member institutions. It underscored the global impact of public-private partnerships in advancing sustainable development and emphasized the importance of private-sector engagement in emerging and high-potential markets. The dialogue focused on fostering collaboration and scalable solutions, with a particular emphasis on infrastructure development and the critical role of small and medium-sized enterprises (SMEs) in promoting inclusive economic growth. Established in 1975, the ACG is a strategic alliance of development finance institutions committed to delivering coordinated and effective development support. By leveraging shared expertise and facilitating knowledge exchange, the Group plays a vital role in helping developing countries achieve their social and economic development objectives. To date, the ACG has extended over 11,000 development loans across more than 160 countries. The ACG comprises ten key institutions—four bilateral and six multilateral—including: Abu Dhabi Fund for Development Arab Bank for Economic Development in Africa (BADEA) Arab Fund for Economic and Social Development Arab Gulf Programme for Development (AGFUND) Arab Monetary Fund Islamic Development Bank (IsDB) Kuwait Fund for Arab Economic Development OPEC Fund for International Development Qatar Fund for Development Saudi Fund for Development Together, these institutions are driving sustainable impact through strategic collaboration with the private sector. Related Topics : ICIEC, SAPICO Announce Strategic Partnership to Boost Trade, Investment Opportunities Saudi Arabia Announces Plan to Invest in Meat Self-Sufficiency Saudi Family Forum Launches National Framework for Children's Online Safety Board of Grievances Attains ISO 20000 Certification for IT Service Management Short link : Post Views: 1 Related Stories
Zawya
22-05-2025
- Business
- Zawya
The Arab Coordination Group strengthens partnership with the private sector
Algiers – As part of the Private Sector Forum organized on the sidelines of the Islamic Development Bank (IsDB) Group Annual Meetings, the Arab Coordination Group (ACG) held a high-level session titled "Partnering for Impact: The Arab Coordination Group and the Private Sector Driving Sustainable Development". The event took place at the Abdelatif Rahal International Conference Center in Algiers on 21 May 2025. The session brought together key stakeholders from ACG institutions, private sector companies, government entities, and international organizations to discuss collaborative strategies for promoting sustainable development. The session highlighted leading initiatives, investments, and success stories spearheaded by ACG institutions, underscoring the global developmental impact of these partnerships. Discussions centered around strategic priorities for private sector engagement in emerging and promising markets, with a particular focus on scalable development solutions and cross-sectoral cooperation. The session concluded with an interactive Q&A segment that fostered constructive dialogue between ACG representatives and private sector leaders on co-financing opportunities and future partnerships. This collaboration marks a pivotal step in strengthening the private sector's role in development efforts among ACG member institutions. By fostering cooperation and open dialogue, stakeholders are empowered with the tools and insights needed to tackle critical challenges such as economic development and other key priorities aligned with the Sustainable Development Goals (SDGs). The discussions also addressed ways to improve infrastructure development and empower small and medium-sized enterprises (SMEs) as engines of economic growth. The session contributed to further deepening ties between ACG members and the private sector, paving the way for more joint projects and the adoption of innovative practices to enhance development outcomes. Distinguished Speakers Included: Dr. Mohammed Al-Yami, Director General, Development Effectiveness Office, Islamic Corporation for the Development of the Private Sector (ICD) – IsDB Group, Mr. Khaled Hamza, Vice President for the Private Sector, Arab Fund for Economic and Social Development, Mr. Khaled Khodouri, Business Development Director, Private Sector Operations, OPEC Fund for International Development, Mr. Muncif Galoush from Arab Bank for Economic Development in Africa (BADEA) which was moderated by Mr. Ibrahim Shoukry, Director of Partnerships and Resource Mobilization, Islamic Development Bank (IsDB) About the Arab Coordination Group (ACG): The Arab Coordination Group (ACG) is a strategic alliance that provides a coordinated response to development finance. Through knowledge-sharing, combined expertise, and effective assistance, the Group assists developing countries in reaching their economic and social development objectives. Since its establishment in 1975, ACG has been instrumental in developing economies and communities for a better future, providing more than 11,000 development loans in the public sector to over 160 countries around the globe. Through effective coordination and collaboration, the Group provides a wide range of targeted solutions and optimized deployment of resources to meet the development needs of nations. As the second-largest donor group in the world, ACG is committed to delivering innovative development finance solutions that assist developing countries, and have a positive and sustainable impact on global issues. ACG comprises four bilateral and six multilateral Arab development financial institutions: Abu Dhabi Fund for Development, Arab Bank for Economic Development in Africa, Arab Fund for Economic and Social Development, Arab Gulf Program for Development, Arab Monetary Fund, Islamic Development Bank, Kuwait Fund for Arab Economic Development, OPEC Fund for International Development, Qatar Fund for Development, and Saudi Fund for Development.
Zawya
21-05-2025
- Business
- Zawya
The Arab Coordination Group Strengthens Partnership with the Private Sector through a Pivotal Session to Advance Sustainable Development
As part of the Private Sector Forum organized on the sidelines of the Islamic Development Bank (IsDB) Group Annual Meetings, the Arab Coordination Group (ACG) ( held a high-level session titled "Partnering for Impact: The Arab Coordination Group and the Private Sector Driving Sustainable Development". The event took place at the Abdelatif Rahal International Conference Center in Algiers on 21 May 2025. The session brought together key stakeholders from ACG institutions, private sector companies, government entities, and international organizations to discuss collaborative strategies for promoting sustainable development. The session highlighted leading initiatives, investments, and success stories spearheaded by ACG institutions, underscoring the global developmental impact of these partnerships. Discussions centered around strategic priorities for private sector engagement in emerging and promising markets, with a particular focus on scalable development solutions and cross-sectoral cooperation. The session concluded with an interactive Q&A segment that fostered constructive dialogue between ACG representatives and private sector leaders on co-financing opportunities and future partnerships. This collaboration marks a pivotal step in strengthening the private sector's role in development efforts among ACG member institutions. By fostering cooperation and open dialogue, stakeholders are empowered with the tools and insights needed to tackle critical challenges such as economic development and other key priorities aligned with the Sustainable Development Goals (SDGs). The discussions also addressed ways to improve infrastructure development and empower small and medium-sized enterprises (SMEs) as engines of economic growth. The session contributed to further deepening ties between ACG members and the private sector, paving the way for more joint projects and the adoption of innovative practices to enhance development outcomes. Distinguished Speakers Included: Dr. Mohammed Al-Yami, Director General, Development Effectiveness Office, Islamic Corporation for the Development of the Private Sector (ICD) – IsDB Group, Mr. Khaled Hamza, Vice President for the Private Sector, Arab Fund for Economic and Social Development, Mr. Khaled Khodouri, Business Development Director, Private Sector Operations, OPEC Fund for International Development, Mr. Muncif Galoush from Arab Bank for Economic Development in Africa (BADEA) which was moderated by Mr. Ibrahim Shoukry, Director of Partnerships and Resource Mobilization, Islamic Development Bank (IsDB) Distributed by APO Group on behalf of Arab Coordination Group (ACG). About the Arab Coordination Group (ACG): The Arab Coordination Group (ACG) is a strategic alliance that provides a coordinated response to development finance. Through knowledge-sharing, combined expertise, and effective assistance, the Group assists developing countries in reaching their economic and social development objectives. Since its establishment in 1975, ACG has been instrumental in developing economies and communities for a better future, providing more than 11,000 development loans in the public sector to over 160 countries around the globe. Through effective coordination and collaboration, the Group provides a wide range of targeted solutions and optimized deployment of resources to meet the development needs of nations. As the second-largest donor group in the world, ACG is committed to delivering innovative development finance solutions that assist developing countries, and have a positive and sustainable impact on global issues.
Arab News
16-02-2025
- Business
- Arab News
Saudi Arabia, IMF host roundtable on supporting conflict-affected Middle East economies
ALULA: Saudi Arabia's Finance Ministry and the International Monetary Fund co-hosted on Sunday a high-level roundtable aimed at addressing economic recovery in conflict-affected countries in the Middle East, with a particular focus on the Syrian Arab Republic. The meeting, held on the sidelines of the inaugural AlUla Conference for Emerging Market Economies, brought together regional finance ministers, the Syrian foreign minister, the managing director of operations at the World Bank Group, and representatives from international financial institutions and the Arab Coordination Group. Following the discussion, IMF Managing Director Kristalina Georgieva and Saudi Finance Minister Mohammed Al-Jadaan issued a joint statement emphasizing the significance of international cooperation in rebuilding economies devastated by conflict, the Saudi Press Agency reported. They stressed the urgency of addressing humanitarian needs and facilitating a durable recovery, underscoring the commitment of participating nations and institutions to pool their expertise and resources to support affected populations, SPA added. Participants highlighted the wider regional consequences of prolonged instability, reinforcing the need for coordinated recovery efforts. Syria remained a focal point of the discussions. As part of a collective strategy, attendees identified three priorities for supporting conflict-affected economies. First, they agreed on the necessity of a continuous diagnostic process to assess each country's unique challenges, humanitarian requirements, and reconstruction needs. This would include evaluating gaps in institutional frameworks, economic policies, and financial resources. Second, they underscored the importance of enhanced capacity development, with an emphasis on scaling up IMF and World Bank initiatives to strengthen key institutions, particularly in fiscal, monetary, and banking sectors. Lastly, they emphasized the mobilization of financial assistance from the global community, stressing the importance of securing coordinated support from international and regional development partners for reconstruction and humanitarian programs. The IMF, World Bank, and Arab Coordination Group reaffirmed their commitment to working together within their respective mandates to facilitate economic recovery efforts in the region. To enhance these efforts, they agreed to establish an informal coordination group that will oversee ongoing initiatives. Further discussions are scheduled to take place at the upcoming IMF/World Bank Spring Meetings, set to be held in Washington, from April 25-27. The meeting saw participation from regional governments, international financial institutions, and high-level Syrian representatives, marking a significant step toward a collaborative and sustained approach to economic recovery in the Middle East.
Saudi Gazette
16-02-2025
- Business
- Saudi Gazette
Al-Jadaan, IMF Chief underscore supporting recovery of conflict-affected economies in Mideast region
Saudi Gazette report ALULA — Saudi Arabia's Finance Ministry and the International Monetary Fund (IMF) co-hosted on Sunday a high-level roundtable on 'Working together to support recovery in the Middle East's conflict-affected economies', with a focus on Syria. The roundtable meeting, held on the sidelines of the inaugural annual global AlUla Conference for Emerging Market Economies, brought together finance ministers of countries in the region, the minister of foreign affairs of Syria, the managing director of operations at the World Bank Group and heads of other International Financial Institutions and the Arab Coordination Group. Following the meeting, Managing Director of the IMF Kristalina Georgieva and Saudi Finance Minister Mohammed Al-Jadaan said in a statement that 'this important meeting brought together representatives from the Middle East and key economic and development partners to discuss how we can work together to support recovery in the Middle East's conflict-affected economies, with a focus on Syria. We thank all participants for realizing the urgency and importance of this task, as well as for their commitment to pool knowledge and work together to ensure that the conflict-affected countries can start addressing their humanitarian needs and begin a rebuilding era for their economies in an efficient, swift, and durable way for the benefit of their people,' the statement noted. Participants welcomed the meeting as an opportunity to discuss recent developments and build a common understanding of the challenges facing conflict-affected countries. They emphasized the importance of strengthening coordination to support the recovery of these countries as the negative spillovers would impact all. Particular attention was paid to the situation in Syria. The participants agreed on the following priorities to support conflict-affected countries:1- A Continuous diagnostic of the challenges and economic and social context facing each conflict-affected country, including an assessment of humanitarian and reconstruction needs. Such a diagnostic should identify institution-building priorities, gaps in policies, and financing needs. 2- Enhanced Capacity Development (CD) aimed at rapidly scaling up IMF and World Bank CD initiatives to help strengthen and, as needed, build new institutions. Support would need to be tailored to strengthen essential functions of fiscal, monetary and banking institutions. 3- Mobilization of financial assistance from the international community. Financial support —coordinated with international and regional development partners —will be needed to fund comprehensive reform programs, including reconstruction and humanitarian aid. The IMF, World Bank, the Arab Coordination Group, and countries of the region underscored their readiness to work together and complement each other's efforts while focusing on their institutional mandates. They will continue to work closely and with other partners to further support the international response to the recovery of conflict-affected economies in the Middle East region. They agreed to establish an informal coordination group to support those efforts, and agreed that discussions on those efforts will be continued at the upcoming IMF/World Bank Spring Meetings on April 25-27 in Washington D.C.
