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Zawya
a day ago
- Business
- Zawya
Arab Fund reaffirms commitment to sustainable development
Vienna – The Arab Fund for Economic and Social Development (Arab Fund) joins regional development leaders at the 20th Annual Meetings of the Arab Coordination Group (ACG), the world's second largest development finance group, hosted by the OPEC Fund for International Development, in Vienna. As a member of the ACG, a strategic alliance of ten Arab development institutions, the Arab Fund reaffirms its commitment to advancing inclusive economic growth, climate resilience, and job creation for Arab youth. 'The Arab Fund is committed to shaping a shared development agenda with regional partners, helping member countries achieve their Sustainable Development Goals' said Mr. Bader Alsaad, Director General and Chairman of the Board of the Arab Fund for Economic and Social Development. 'Our new strategy focuses on collaboration and partnerships with regional and international institutions to maximize long-term development impact through our operations', he added. During the meetings, the Arab Fund contributed to high-level roundtable discussion with H.E. Mohamed Ould Ghazouani, President of Mauritania, exploring avenues for strategic cooperation and underscoring the collective commitment of ACG institutions to fostering impactful partnerships. In 2024, the ACG collectively provided $19.6 billion to finance nearly 650 operations across 90 countries. These investments targeted key sectors such as energy, agriculture, and the financial sector, with over 45 percent support for global trade and small and medium-sized enterprises (SMEs). The Arab Fund has played a critical role in advancing regional development impact across Arab countries. Over the past 50 years, the Arab Fund co-financed joint development projects with other Arab financial institutions, contributing $14.63 billion, which represents approximately (31.5 percent) of total co-financing efforts. Among these notable projects is the co-financed electrical interconnection between Nouakchott and Zouerate in Mauritania, undertaken with the Saudi Fund for Development and the Abu Dhabi Fund for Development. This project aimed to provide secure and low-cost electricity to northern Mauritania, thereby strengthening the country's national power transmission network. About the Arab Fund: The Arab Fund for Economic and Social Development is a regional financial institution based in Kuwait, established in 1968 to support the economic and social development of Arab countries. Through loans, grants, and technical assistance, the Arab Fund finances infrastructure, education, health, water and sanitation and public service projects that contribute to sustainable development and regional cooperation across the Arab world. About the Arab Coordination Group (ACG) The Arab Coordination Group (ACG) is a strategic alliance that provides a coordinated response to development finance. Since its establishment in 1975, ACG has been instrumental in developing economies and communities for a better future, providing more than 13,000 development loans to over 160 countries around the globe. Comprising of ten development funds, ACG is the second-largest grouping of development finance institutes in the world and works across the globe to support developing nations and create a lasting, positive impact. The Group comprises the Abu Dhabi Fund for Development, the Arab Bank for Economic Development in Africa, the Arab Fund for Economic and Social Development, the Arab Gulf Programme for Development, the Arab Monetary Fund, the Islamic Development Bank, the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Development, the Qatar Fund for Development and the Saudi Fund for Development. For Media inquiries, please contact: Mohamed Eissa, Joyce Haykal,
Zawya
22-05-2025
- Business
- Zawya
Arab Fund signs two MoUs to support regional integration and sustainable development
Algiers, Algeria – The Arab Fund for Economic and Social Development announced the signing of two Memorandums of Understanding to strengthen strategic partnerships and support regional growth and integration within the Arab World. The signing took place on the sidelines of the Islamic Development Bank (IsDB) Annual Meetings in Algiers, where the Arab Fund delegation, led by Director General and Chairman Bader Alsaad, also attended the opening session and met with high-level government representatives from the ministries of finance, energy and mining, public works and transport, water resources, industry, and environment. 'The engagement in IsDB's Annual Meetings underscores our commitment to advancing Arab Fund's new strategy and promoting it across multiple platforms, said Bader Alsaad, Director General and Chairman of the Board of the Arab Fund for Economic and Social Development. 'We extend our gratitude and appreciate to our partners at the IsDB and to other ACG partners, and we are excited to unlock new opportunities through the MoUs we signed today to drive economic growth, promote trade, and empower social development,' he added. The MoUs aim to strengthen regional collaboration with the first focusing on boosting the exports of goods with the Saudi Exim Bank, and the second seeking to explore investment opportunities and joint financing with the Islamic Corporation for the Development of the Private Sector. As part of Arab Fund's dynamic agenda, Mr. Khalid Hamza, Vice President for the Private Sector Investment at the Arab Fund, took center stage at a high-profile panel titled, ' Partnering for Impact: The Arab Coordination Group (ACG) and the Private Sector in Driving Sustainable Development. ' 'Our valued partnership with the ACG members is crucial in mitigating investment risks and catalyzing development by providing a wide range of solutions that empower the private sector – a vital driver of economic growth in emerging markets,' said Hamza. The delegation also engaged in bilateral meetings with representatives of regional institutions, and financial partners, reinforcing the Fund's commitment to strengthening regional partnerships and supporting Algeria's development priorities. As a steadfast partner, the Arab Fund has a proud history of contributing to Algeria's development, with numerous projects driving economic growth, job creation and contributing to the welfare of its people. Among these notable interventions are the establishment of a power generating station in Hassi Messaoud, the development of social housing in the central region, and the vital pumping and conveyance of Bani Haroun water. The Arab Fund remains committed to supporting Algeria and strengthening ties with its government to further enhance growth and improve service delivery for all Algerians. About the Arab Fund: The Arab Fund for Economic and Social Development is a regional financial institution based in Kuwait, established in 1968 to support the economic and social development of Arab countries. Through loans, grants, and technical assistance, the Arab Fund finances infrastructure, education, health, water and sanitation and public service projects that contribute to sustainable development and regional cooperation across the Arab world. Media Contact: Mohamed Eissa, Joyce Haykal,
Zawya
20-02-2025
- Business
- Zawya
Arab Fund and United Nations Economic and Social Commission for Western Asia (UN-ESCWA) Join Forces to Upgrade Data Portal for Sustainable Development in the Arab Region
The Arab Fund for Economic and Social Development and the United Nations Economic and Social Commission for Western Asia (UN-ESCWA) signed a Memorandum of Understanding (MoU) to enhance the Arab Development Portal ( a key online data resource for Arab countries. This collaboration aims to speed up Arab countries' progress towards achieving the Sustainable Development Goals (SDGs). The portal is a regional knowledge and data platform providing access to reliable development data from various credible sources. The upgraded version will include tools powered by artificial intelligence tools, user-friendly dashboards and predictive analytics, offering valuable insights into economic trends, global benchmarks, and SDG indicators. 'This collaboration with the Arab Fund, representing ACG institutions, marks a pivotal step in strengthening data-driven, evidence-based decision-making across the Arab region. By enhancing data dissemination and accessibility, we empower policymakers and researchers with the insights needed to address critical challenges in economic development, public health, unemployment, climate resilience, and other key areas aligned with the Sustainable Development Goals,' said Rola Dashti, Under-Secretary-General and Executive Secretary of UN-ESCWA. The Arab Development Portal ( was established by the Arab Coordination Group (ACG) ( an alliance of 10 Arab development institutions including the Arab Fund. "Partnership is at the core of our new strategy to maximize our impact on social and economic development across member countries,' said Bader Alsaad, Arab Fund's Director General and Chairman of the Board of Directors. "Together with UN-ESCWA we will use our expertise and resources to create a data-driven approach that helps policymakers make informed decisions." The three-year partnership will include hands-on workshops, the creation of knowledge sharing resources, and the development of innovative strategies to improve development indicators. It will also strengthen connection between the portal and its sources and will offer specialized training on AI tools to boost skills in data management and analysis. Distributed by APO Group on behalf of Islamic Development Bank Group (IsDB Group).
Zawya
20-02-2025
- Business
- Zawya
Arab Fund and UN-ESCWA join forces to upgrade data portal
Kuwait – The Arab Fund for Economic and Social Development and the United Nations Economic and Social Commission for Western Asia (UN-ESCWA) signed a Memorandum of Understanding (MoU) to enhance the Arab Development Portal, a key online data resource for Arab countries. This collaboration aims to speed up Arab countries' progress towards achieving the Sustainable Development Goals (SDGs). The portal is a regional knowledge and data platform providing access to reliable development data from various credible sources. The upgraded version will include tools powered by artificial intelligence tools, user-friendly dashboards and predictive analytics, offering valuable insights into economic trends, global benchmarks, and SDG indicators. 'This collaboration with the Arab Fund, representing ACG institutions, marks a pivotal step in strengthening data-driven, evidence-based decision-making across the Arab region. By enhancing data dissemination and accessibility, we empower policymakers and researchers with the insights needed to address critical challenges in economic development, public health, unemployment, climate resilience, and other key areas aligned with the Sustainable Development Goals,' said Rola Dashti, Under-Secretary-General and Executive Secretary of UN-ESCWA. The Arab Development Portal was established by the Arab Coordination Group (ACG), an alliance of 10 Arab development institutions including the Arab Fund. "Partnership is at the core of our new strategy to maximize our impact on social and economic development across member countries,' said Bader Alsaad, Arab Fund's Director General and Chairman of the Board of Directors. "Together with UN-ESCWA we will use our expertise and resources to create a data-driven approach that helps policymakers make informed decisions." The three-year partnership will include hands-on workshops, the creation of knowledge sharing resources, and the development of innovative strategies to improve development indicators. It will also strengthen connection between the portal and its sources and will offer specialized training on AI tools to boost skills in data management and analysis. For media requests, please contact: Shatha AlDiwan, Media Specialist, Arab Fund:
