An Honorary Participation of H.R.H. Prince ElHassan bin Talal of Jordan

The Arab Fund for Economic and Social Development, in partnership with the World Bank, hosted and co-organized a high-level two-day event to address the pressing water crisis facing the Arab region.  The collaboration is part of the Arab Fund’s new strategy that focuses on mobilizing global efforts to support regional economic growth through improving access to critical services like water, energy, transport, healthcare services, and education.

 

A DISTINGUISHED GATHERING

The forum was honored to host His Royal Highness Prince ElHassan bin Talal of Jordan as a keynote speaker. His Royal Highness delivered an inspiring address, emphasizing the critical importance of regional cooperation, sustainable water management, and innovative financing solutions to build a water-resilient future for the Arab region.

 

The forum brought together a diverse group of stakeholders, including high-level delegations from several Arab countries, including Morocco, Jordan, Palestine, Tunisia, Iraq, Sudan, Mauritania, Lebanon, Oman, Saudi Arabia, and Yemen, in addition to World Bank experts and water sector representatives. The forum fostered a rich exchange of knowledge, showcasing best practices and successful initiatives from across the globe.

 

Adding to the diverse representation, the forum hosted leaders from esteemed Arab Coordination Group (ACG) member institutions, such as Leaders from the Abu Dhabi Fund for Development, the OPEC Fund, the Saudi Fund, and the Kuwait Fund for Arab Economic Development. Their presence and active participation underscored the crucial role of regional collaboration in tackling the water crisis.

 

KEY THEMES & DISCUSSIONS 

Over the two days, we engaged in a series of insightful discussions, panel sessions, and bilateral meetings to push forward our development agenda.  Key themes explored during the forum included the following:

 

• 1) Investment was a recurring theme, as participants recognized the need for innovative financing mechanisms like green bonds, blended finance, and public-private partnerships. These solutions can unlock the resources necessary for upgrading outdated water infrastructure and implementing sustainable practices.

 

• 2) Governance was another crucial aspect discussed during the forum. Strong frameworks, effective policies, and transparent regulations are key to ensure equitable management of water resources.

 

• 3) Regional cooperation is considered as increasingly vital for managing transboundary water and collaborating among countries to tackle shared water challenges that cross borders.

 

A CALL TO ACTION

The forum concluded with a resounding call for collaborative action, urging governments, investors, development organizations, and financial institutions to join forces and accelerate progress through launching a dedicated Water Platform.  The platform aims to equip countries of the MENA region with the necessary technical expertise, knowledge, and financial resources to implement sustainable water-related projects, an initiative proposed by the Arab Fund. This multi-sectoral approach will pave the way to making water projects bankable and more feasible.