– OPEC Fund 2023 Development Forum: Unlocking synergies and financing opportunities for sustainable development
VIENNA, June 15, 2023 /PRNewswire/ — The OPEC Fund for International Development (the OPEC Fund) will host its second Development Forum on Tuesday, June 20, 2023 in Vienna, Austria, with the participation of Bank directors African Development Bank, Akinwumi Adesina, the Agence Française de Développement, Rémy Rioux, the Islamic Development Bank Group, Muhammad Al Jasser and the Director General of the OPEC Fund, Abdulhamid Alkhalifa in an opening conversation on the future of development finance .
Addressing global development challenges under the overarching theme “Boosting Resilience and Equity”, forum discussions will focus on opportunities to better finance sustainable development and ensure transformative impact. Other hot topics on the agenda include sustainable food systems, innovative climate solutions, and partnerships and policies that put people and planet first. The keynote address will be given by Frannie Léautier, CEO of the pan-African firm SouthBridge Investments.
OPEC Fund Director General Alkhalifa said: “The global challenges we face today, such as the urgent food security crisis, the deepening threats of climate change and a looming debt crisis, require strong alliances and collective action. With the OPEC Fund Development Forum we are showing that we are committed to tackling these challenges head-on together with partner countries and institutions. Together we can unlock models for collaboration and drive positive impact for the future.”
The OPEC Fund Development Forum brings together government leaders, ministers, heads of institutions, representatives of multilateral development banks, international organizations and private sector stakeholders. With a focus on transformative development models, regional collaboration and inclusion, the forum seeks to forge new paths towards sustainable development.
Some highlights of the Development Forum program include:
“Towards a transformative development model”: The discussion will explore innovative approaches to address the shortage of development capital, political constraints and the need to mobilize financial support for sustainable projects. Panelists will engage in conversations about leveraging resources and implementing strategies that foster inclusive, sustainable, and scalable solutions.
“Regional Collaboration as a Catalyst for Scalable Solutions”: The session will emphasize the power of collaboration, highlight successful development initiatives, and the importance of replicating or scaling up. Participants will identify shared goals, pool resources and expertise, and explore ways to effectively address complex challenges through regional cooperation.
“Policy Implementation and Partnerships that Put People and Planet First”: The closing conversation will focus on empowering women, youth and entrepreneurs while strengthening legal and policy frameworks, especially those that ensure access inclusive financing that helps underserved groups break down systemic barriers that hinder progress towards sustainable development.
Additionally, the forum will feature featured sessions on selected topics, providing a deeper understanding of the challenges and opportunities in critical areas and highlighting the need for innovative solutions and collaborative action.
Confirmed speakers for the 2023 OPEC Fund Development Forum also include Lotay Tshering, Prime Minister of Bhutan; Mohammed Al-Jadaan, Minister of Finance, Kingdom of Saudi Arabia; Sherry Rehman, Minister for Climate Change and Environmental Coordination of Pakistan; Rania Al-Mashat, Minister of International Cooperation, Egypt; Admassu Tadesse, President Emeritus and Group Managing Director, The Eastern and Southern African Trade and Development Bank (TDB); Vafaev Shukhrat, Director General of the Uzbekistan Agency for Strategic Reforms; Mahmoud Mohieldin, United Nations Special Envoy for Financing the 2030 Development Agenda; Dima Al-Khatib, Director of the United Nations Office for South-South Cooperation (UNOSSC), and Gernot Wagner, Author and Climate Economist at Columbia Business School, New York.
For a complete list of speakers and a detailed program, visit the official website of the OPEC Fund Development Forum 2023.
About the OPEC Fund
The OPEC Fund for International Development (the OPEC Fund) is the only globally mandated development institution that provides financing from member countries to non-member countries exclusively. The organization works cooperatively with partners in developing countries and the international development community to stimulate economic growth and social progress in low- and middle-income countries around the world. The OPEC Fund was established in 1976 with a clear purpose: to drive development, strengthen communities and empower people. Our work is people-centered, focusing on financing projects that meet essential needs, such as food, energy, infrastructure, employment (particularly in relation to MSMEs), clean water and sanitation, health, and education. To date, the OPEC Fund has committed more than US$24 billion to development projects in more than 125 countries with an estimated total cost of US$190 billion. The OPEC Fund is rated AA/Stable Outlook by Fitch and AA, Positive Outlook by S
Contact: Basak PamirT 43151564174B.Pamir@opecfund.org
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