VIENNA, June 15, 2023 /PRNewswire/ — The OPEC Fund for International Development (the OPEC Fund) is hosting its second Development Forum on Tuesday June 20, 2023 in Vienna, Austria, featuring the heads of the African Development Bank, Akinwumi Adesina, the Agence Française de Développement, Rémy Rioux, the Islamic Development Bank Group, Muhammad Al Jasser and OPEC Fund Director-General, Abdulhamid Alkhalifa in an opening conversation on the future of development finance.
Addressing global development challenges under the over-arching theme “Driving Resilience & Equity”, forum discussions will focus on opportunities to better finance sustainable development and secure transformational impact. Other topical issues on the agenda include sustainable food systems, innovative climate solutions and partnerships and policies that prioritize people and planet. The keynote address will be delivered by Frannie Léautier, CEO of the pan-African firm SouthBridge Investments.
OPEC Fund Director-General Alkhalifa said: “The global challenges we are facing today such as the urgent food security crisis, the deepening threats of climate change and a looming debt crisis require strong partnerships and collective action. With the OPEC Fund Development Forum we are demonstrating that we are committed to addressing these challenges head-on in concert with partner countries and institutions. Together we can unlock models of collaboration and drive positive impact for the future.”
The OPEC Fund Development Forum brings together government leaders, ministers, heads of institutions, representatives from multilateral development banks, international organizations and private sector stakeholders. With a focus on transformative development models, regional collaboration and inclusiveness, the forum seeks to forge new pathways 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 scarcity of development capital, policy restrictions and the need to mobilize financial support for sustainable projects. Panelists will engage in conversations on 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 upscaling. Participants will identify shared objectives, pool resources and expertise, and explore ways to effectively address complex challenges through regional cooperation.
“Implementing Policies and Partnerships that Prioritize People and Planet”: The closing conversation will focus on empowering women, young people, and entrepreneurs while strengthening legal and policy frameworks, especially those that ensure inclusive access to finance which help underserved groups break through systemic barriers that hinder progress towards sustainable development.
In addition, the forum will feature spotlight 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 OPEC Fund Development Forum 2023 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, 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 Uzbekistan’s Agency for Strategic Reforms; Mahmoud Mohieldin, United Nations Special Envoy on Financing the 2030 Development Agenda; Dima Al-Khatib, Director, United Nations Office for South-South Cooperation (UNOSSC), and Gernot Wagner, author and climate economist at Columbia Business School, New York.
For a full list of speakers and a detailed program, please visit the official OPEC Fund Development Forum 2023 website.
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 in cooperation with developing country partners 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 distinct 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 relating to MSMEs), clean water and sanitation, healthcare and education. To date, the OPEC Fund has committed more than US$24 billion to development projects in over 125 countries with an estimated total project cost of US$190 billion. The OPEC Fund is rated AA+/Outlook Stable by Fitch and AA, Outlook Positive by S&P. Our vision is a world where sustainable development is a reality for all.