Latest news with #sustainable development
Al Arabiya
3 hours ago
- Business
- Al Arabiya
Saudi business delegation arrives in Damascus for Syrian-Saudi Investment Forum
A large Saudi business delegation arrived in Damascus on Wednesday to attend the Syrian-Saudi Investment Forum – being held at the request of Saudi Crown Prince Mohammed bin Salman. According to Al Arabiya correspondent, the forum will kick off on Thursday. The forum aims to explore the potential of cooperation and deals to promote sustainable development. The visit is expected to see the signing of trade deals worth more than 15 billion Saudi riyals ($4 billion). During the visit, a cement factory in the industrial city of Adra in Damascus countryside will be launched. The delegation, led by Saudi Minister of Investment Khalid al-Falih, included over 100 business investors. The Saudi embassy in Damascus on Tuesday announced the introduction of special travel permits for businesspeople and investors from both countries, aimed at facilitating mutual visits and exploring investment opportunities.
Times of Oman
11 hours ago
- Politics
- Times of Oman
Environment Authority participates in high-level political forum on sustainable development
New York: The Environment Authority on Wednesday took part in the "2025 High-level Political Forum on Sustainable Development" in New York. The forum was held in New York under the theme "Advancing sustainable, inclusive, science- and evidence-based solutions for the 2030 Agenda and its SDGs for leaving no one behind". The Sultanate of Oman's delegation was led by Dr. Abdullah Ali Al Amri, Chairman of the Environment Authority, who heads the 7th session of the United Nations Environment Assembly (UNEA-7). The forum focused on practical, data-driven strategies to bridge implementation gaps, notably amid interconnected global crises, including climate change, inequality and economic instability. In a speech at the forum, Al Amri laid emphasis on the seventh session of the United Nations Environment Assembly (UNEA-7), scheduled to be held in Nairobi in December 2025. He said that the UNEA-7 constitutes a 'global opportunity to accelerate sustainable, knowledge-based solutions for a resilient planet." Al Amri underscored the need to devise environmental solutions with special focus on the interconnectedness that exists between environmental challenges and public health. He stressed the need to embrace an integrated approach—like "One Health" principle—to effectively address these challenges. He also underlined the importance of adopting a comprehensive approach to address environmental issues and espousing circular economy as a key factor to achieve sustainable production and consumption. In this context, he called upon countries to incorporate such solutions into their national policies. Al Amri highlighted the progress made in negotiations on the convention to control plastic pollution. He stressed the need to ratify international agreements to protect marine biodiversity beyond areas of national jurisdiction, in addition to cooperation between the United Nations Environment Assembly and parties tasked with multilateral environmental agreements to ensure effective environmental governance. The speech also undersored the urgent need to reform the global financial structure and provide sustainable and innovative financing mechanisms to support sustainable economic and environmental models. Al Amri pointed out that areas affected by wars and conflicts should be included in efforts to achieve the Sustainable Development Goals, as part of measures to support peace and environmental justice. At the conclusion of his speech, Al Amri underlined the importance of dialogue and understanding as the best means of achieving rapprochement at a time the international community is joining hands to ensure a sustainable future for all. On the sidelines of the forum, Al Amri conferred with the President of the United Nations General Assembly. The meeting touched on ways to enhance international environmental action and highlighted the Sultanate of Oman's role in advancing the global agenda on sustainability. Al Amri also held a meeting with the Hungarian Minister of Environment. The meeting discussed bilateral and regional cooperation in the field of environment and sustainable development. The two sides spoke about preparations for the forthcoming seventh session of the United Nations Environment Assembly. Acting in cooperation with Environment Society of Oman, the Environment Authority also participated in an event on the sidelines of the forum. The event was aimed to enhance the role of youth in climate action and marine environment protection, in line with the Sustainable Development Goals, including Goal 13 on climate action, Goal 14 on Life Below Water and Goal 17 on "Partnerships for the Goals".
Zawya
14 hours ago
- Business
- Zawya
ITFC reports strong results and sustainability progress in 2024 Annual Development Effectiveness Report
JEDDAH, Kingdom of Saudi Arabia -- The International Islamic Trade Finance Corporation (ITFC) ( a member of the Islamic Development Bank (IsDB) Group, announced the release of its 2024 Annual Development Effectiveness Report (ADER). The ADER serves as an essential reporting and transparency tool, enabling ITFC to measure, communicate, and continually refine its strategies and interventions for achieving sustainable development outcomes. The 2024 report highlights ITFC's expanding role as a driver of sustainable trade, economic resilience, and inclusive growth across its member countries. 'The ADER showcases ITFC's ability to provide innovative, impactful solutions that address the complex needs of our member countries,' said Eng. Adeeb Y. Al Aama, Chief Executive Officer of ITFC. 'While we celebrate key milestones, we are also assessing our interventions to ensure we continue advancing toward a more inclusive, resilient, and sustainable future.' Key Highlights of 2024 ADER In 2024, ITFC delivered tangible results, demonstrating its focus on resilience and economic inclusion. The key highlights include: Filling Trade Finance Gaps. ITFC allocated US$2.66 billion, 38% of its total portfolio, to LDMCs, supporting inclusive growth. Additionally, US$268 million directly benefited over 380,000 smallholder farmers, enabling the procurement of 840,000 metric tons of local agricultural products. Securing Critical Supply Chains. Disbursements to the energy sector amounted to US$4 billion, bringing reliable electricity to approximately 13.8 million households. Food security interventions provided over 5.6 million metric tons of essential commodities worth US$1.45 billion, benefiting more than 30 million households. Strengthening Private Sector Participation. ITFC financed 312 small and medium enterprises (SMEs) and corporates through partnerships with 23 financial institutions, promoting financial inclusion and economic diversification. Fostering Regional Integration. Intra-OIC trade financing reached US$4.8 billion. Through strategic programs such as the Arab Africa Trade Bridges (AATB) and the Aid for Trade Initiative for Arab States (AfTIAS), ITFC strengthened regional value chains and institutional capacities. Investing in Capacity Development. Technical assistance and training initiatives reached over 3,100 individuals, a 32% increase from the previous year, with nearly 40% women participants. Embedding Sustainability into Core Operations The Corporation adopted its first Environmental and Social (E&S) Policy and launched a Ten-Year E&S Action Plan. A new governance structure was also introduced to guide implementation, laying the foundation for more responsible trade finance operations. Empowering Growth through the SDGs ITFC made significant strides in advancing multiple Sustainable Development Goals through its trade finance and development initiatives. Its efforts have helped reduce poverty (SDG 1), strengthen food security (SDG 2), and expand access to clean and affordable energy (SDG 7). By supporting smallholder farmers, empowering local economies, and promoting intra-OIC trade, ITFC has also played a key role in fostering strong global partnerships to accelerate sustainable development across member countries (SDG 17). The 2024 ADER affirms ITFC's deepening commitment to transparency, sustainability, and measurable impact. As the Corporation looks ahead, it remains focused on bold innovation, collaborative partnerships, and leveraging Islamic finance to build a more inclusive and sustainable global trade ecosystem. Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC). Contact us: E-mail: ITFC@ Social media: Twitter: Facebook: LinkedIn: International Islamic Trade Finance Corporation (ITFC) ( About the International Trade Finance Corporation (ITFC): The International Islamic Trade Finance Corporation (ITFC) is the trade finance arm of the Islamic Development Bank (IsDB) Group. It was established with the primary objective of advancing trade among OIC member countries, which would ultimately contribute to the overarching goal of improving the socio-economic conditions of the people across the world. Commencing operations in January 2008, ITFC has provided more than US$83 billion of financing to OIC member countries, making it the leading provider of trade solutions for these member countries' needs. With a mission to become a catalyst for trade development for OIC member countries and beyond, the Corporation helps entities in member countries gain better access to trade finance and provides them with the necessary trade-related capacity-building tools, which would enable them to successfully compete in the global market. SOURCE: International Islamic Trade Finance Corporation (ITFC)
LBCI
a day ago
- Business
- LBCI
Saudi Ministry of Investment to organize Saudi-Syrian investment forum in Damascus
Saudi Arabia's Ministry of Investment announced on Tuesday that the Kingdom will organize a Saudi-Syrian investment forum in Damascus aimed at exploring avenues for cooperation and signing agreements that promote sustainable development. The statement did not specify a date for the forum. 'In a step that reflects the leadership's commitment to strengthening economic ties with Syria, the Ministry of Investment is organizing the 2025 Saudi-Syrian Investment Forum in Damascus, with broad participation from both the public and private sectors,' the statement read. It added that the forum 'aims to explore opportunities for cooperation and sign agreements that promote sustainable development and serve the interests of the two brotherly peoples.' Reuters
Al Arabiya
a day ago
- Business
- Al Arabiya
Saudi Arabia says it will organize Saudi-Syrian investment forum in Damascus
Saudi Arabia will organize a Saudi-Syrian investment forum in Damascus, aimed at exploring the potential for cooperation and signing deals that should promote sustainable development, the Saudi investment ministry said in a statement on Tuesday. The statement did not set a specific date for the forum. Also on Tuesday, the Saudi embassy in Damascus announced the introduction of special travel permits for businesspeople and investors from both countries, aimed at facilitating mutual visits and exploring investment opportunities. Relations between Riyadh and Damascus have significantly improved since the ouster of former Syrian president Bashar al-Assad in December 2024. Saudi Arabia has since emerged as a key backer of Syria's new leadership. In a major policy shift announced in May during a visit to Riyadh, US President Donald Trump said he would lift all US sanctions on Syria at the request of Saudi Crown Prince Mohammed bin Salman – an important win for Damascus as it works to rebuild after years of conflict.
