Kuwait Fund Concludes Participation in the Third OPEC Fund [...]

The Kuwait Fund for Arab Economic Development concluded its participation in the third Development Forum of the OPEC Fund for International Development, held from June 25-26 in the Austrian capital, Vienna, under the theme "Collaborate for Impact".

The forum saw extensive participation from state leaders, ministers, heads of development institutions, international organizations, and private sector stakeholders to discuss developmental work, the future of financing development projects, and opportunities to enhance sustainable development efforts and achieve the United Nations Sustainable Development Goals (SDGs).

The Kuwait Fund's participation is part of its efforts to enhance cooperation in supporting international economic development. The delegation was led by Acting Director General Mr. Waleed Shamlan Al-Bahar and included Mr. Fawaz Abdulaziz Al-Adsani, Deputy Director of Operations for Arab Countries, and Mr. Khaled Faisal Al-Khaled, Deputy Director of Operations for Organizations and International Bodies.

Over the two days, participants discussed ways to enhance institutional capacities, accelerate investment in smart infrastructure, develop human capital, and expedite progress towards achieving the global sustainable development agenda while addressing urgent global issues such as climate change.

On the sidelines of the forum, the Kuwait Fund delegation participated in the 19^th Annual Meeting of the Heads of Institutions of the Arab Coordination Group (ACG), where they met with Mr. Alvaro Lario, President of the International Fund for Agricultural Development (IFAD), to discuss joint efforts to support agricultural production and combat poverty in rural areas of developing countries.

Additionally, the delegation held separate meetings with Mr. Gabriel Felpeto, Vice President of Finance at the Development Bank of Latin America and the Caribbean; Mr. Hussain Sham Adam, Minister of State for Finance of the Maldives; Ms. Zeina Toukan, Minister of Planning and International Cooperation of the Hashemite Kingdom of Jordan; Dr. Kazim Niaz, Secretary of the Ministry of Economic Affairs of the Islamic Republic of Pakistan; Mr. Andrés Smitmans, Executive Secretary of the Latin American Energy Organization (OLADE); and Ms. Gisela Scaglia, Deputy Governor of Santa Fe Province in the Argentine Republic, to discuss areas of mutual cooperation and strengthen bilateral institutional ties.

Moreover, a series of bilateral meetings were held on the sidelines of the forum between the Kuwait Fund delegation and representatives from other countries and organizations to discuss joint cooperation and enhance institutional links. The delegation met with Mr. Nurlan Baibazarov, Deputy Prime Minister and Minister of National Economy of Kazakhstan; Mr. Shehan Semasinghe, Minister of Finance of Sri Lanka; Ms. Cindy McCain, Executive Director of the World Food Programme (WFP); Ms. Luciana Botafogo, Executive President of the Fonplata Development Bank; Mr. Njuguna Ndung'u, Minister of Finance of the Republic of Kenya; and Mr. Faiziddin Qahhorzoda, Minister of Finance of the Republic of Tajikistan.

Additionally, the delegation, with the attendance of former Director General of the Kuwait Fund Mr. Abdulwahab Ahmad Al-Bader and His Excellency Mr. Talal Sulaiman Al-Fassam, Kuwaiti Ambassador to Austria and Permanent Representative of Kuwait to the United Nations and International Organizations in Vienna, participated in the inauguration of the OPEC Fund's new expansion building in Vienna. The delegation also took part in the 45th Annual Ministerial Meeting of the OPEC Fund for International Development, as well as the meeting of the Fund's Board of Governors.