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OPEC Fund hosts Arab Coordination Group leaders ahead of Development Forum
The OPEC Fund’s high-level events week opened on Monday with the annual meeting of the Heads of Institutions of the Arab Coordination Group (ACG), hosted at OPEC Fund headquarters in Vienna.
Welcoming the leaders of the ten ACG institutions, OPEC Fund President Abdulhamid Alkhalifa reflected on the significance of the week ahead, which coincides with the institution’s Golden Jubilee.
“In the coming days, we will have the opportunity to commemorate the Golden Jubilee of the OPEC Fund,” President Alkhalifa said. “This success story gives us the confidence that we are well positioned to find the right answers to today’s challenges.”
Following their internal discussions, the heads of the ACG institutions participated in a series of high-level roundtables with development partners and country representatives. The meetings brought together leaders from the Abu Dhabi Fund for Development, Arab Bank for Economic Development in Africa, Arab Fund for Economic and Social Development, Arab Gulf Programme for Development, Arab Monetary Fund, Islamic Development Bank, Kuwait Fund for Arab Economic Development, OPEC Fund for International Development, Qatar Fund for Development and Saudi Fund for Development.
A roundtable with African Development Bank President Sidi Ould Tah and Inter-American Development Bank President Ilan Goldfajn focused on strengthening cooperation among development finance institutions and identifying opportunities for greater strategic alignment.
The day also included a discussion with representatives of the V20 Group of climate-vulnerable countries ahead of the launch of the Vulnerability to Viability (V2V) Compact at the fifth OPEC Fund Development Forum. A dedicated meeting on cooperation between ACG institutions and countries in Latin America and the Caribbean explored practical steps to expand collaboration and mobilize greater development financing. Building on growing engagement in the region, participants discussed opportunities to deepen institutional partnerships and support shared development priorities.
“The institutions represented here have a critical role to play in strengthening these relationships,” President Alkhalifa said. “Together, we have the capacity to create stronger and more durable connections.”
The discussions helped set the stage for the fifth OPEC Fund Development Forum, held under the theme “A Transition that Empowers Our Tomorrow.” More than 600 participants are expected to attend the Forum, which will also mark the OPEC Fund’s 50th anniversary.
