The Arab Fund participates in the High-Level Annual Meeting held between the Arab Coordination Group and the World Bank
The Arab Coordination Group (ACG) and the World Bank convened their Annual Meeting in Washington, DC during the World Bank/IMF Annual Meetings for 2022. The High-Level Meeting was held on Saturday, October 15, 2022, and was co-chaired by Mr. Bader Alsaad, Director General and Chairman of the Board of Directors of the Arab Fund, and Mr. Ferid Belhaj, World Bank Vice President for the Middle East and North Africa Region.
The meeting provided an opportunity to exchange views and deliberate on development challenges in the Middle East and North Africa (MENA) region. The discussions mainly focused on food security, green transition and the reduction of carbon emissions, economic fragility, structural reforms of State Owned Enterprises (SOE), regional integration and debt sustainability.
During the meeting, the ACG Food Security Global Response Initiative (June 2022 Food Security Communique) and response were highlighted. In addition, the meeting highlighted the Groupís intention to announce a joint declaration at COP27 on climate action to achieve equitable development, during its side event at COP27. The ACG extended an invitation to the World Bank to join the event. The World Bank will disseminate to the ACG its 4 pilot Country Climate and Development Reports (CCDRs) for Jordan, Iraq, Egypt, and Morocco, in addition to Private Sector Diagnostics reports for some countries in the Middle East and North Africa.