Latest news with #ArabFund
Al-Ahram Weekly
01-07-2025
- Business
- Al-Ahram Weekly
AIIB, Arab Fund seal strategic pact for sustainable infrastructure across Arab region - Economy
The Asian Infrastructure Investment Bank (AIIB) and the Arab Fund for Economic and Social Development signed a memorandum of understanding (MoU) on Tuesday, establishing a strategic partnership to scale up their cooperation and accelerate the delivery of transformative, climate-resilient, and connectivity-driven infrastructure in shared priority regions. The signing occurred on the sidelines of the Fourth International Conference on Financing for Development (FfD4) in Seville, Spain. President of AIIB Jin Liqun and Chairman and Director General of the Arab Fund Bader Alsaad signed the agreement. AIIB, founded in 2016, is a multilateral development bank with 110 approved members globally and a capital base of $100 billion. AIIB focuses on financing infrastructure-related projects. It also supports projects that enhance regional connectivity and promote sustainable economic development across Asia and other regions. The newly inked MoU sets a comprehensive framework for collaboration between the two institutions. It covers sovereign and non-sovereign co-financing, joint project preparation, and strategic priority alignment in areas such as climate resilience, cross-border connectivity, digital infrastructure, and sustainable urban development. 'This partnership with the Arab Fund represents a major milestone in our shared pursuit of sustainable development. By combining AIIB's infrastructure finance expertise with the Arab Fund's regional knowledge, we can jointly mobilize more capital, drive innovation in financing, and deliver projects that directly address climate, digital, and urban infrastructure challenges,' said Liqun. 'It will enable us to deliver on our mission to finance sustainable development across the Arab region. The partnership also aligns directly with the Sustainable Development Goals (SDGs). We aim to channel vital resources to priority infrastructure projects that catalyze long-term prosperity and sustainability in our member countries,' Alsaad stated. The Arab Fund, established in 1972 and headquartered in Kuwait, is a regional financial institution dedicated to advancing economic and social development across the Arab world. The fund provides loans, grants, and technical assistance for critical projects in infrastructure, health, education, water and sanitation, and public services. It also plays a key role in regional cooperation and integration through its development financing initiatives. With a focus on demand-driven, high-impact initiatives, the AIIB-Arab Fund partnership is expected to unlock large-scale financing for critical infrastructure projects in sectors including clean energy, transport and logistics, digital connectivity, water and sanitation, and urban development and resilience. The agreement also positions both institutions to enhance their support for countries facing elevated financing challenges due to climate vulnerabilities or regional instabilities. The collaboration aims to facilitate cross-border infrastructure solutions, such as transport corridors and energy grids, that enhance regional integration and promote inclusive economic growth. Follow us on: Facebook Instagram Whatsapp Short link:
Zawya
01-07-2025
- Business
- Zawya
AIIB and Arab Fund forge strategic partnership to advance sustainable infrastructure development
Seville – The Arab Fund for Economic and Social Development and the Asian Infrastructure Investment Bank (AIIB) formalized a strategic partnership through the signing of a memorandum of understanding aimed at deepening cooperation and accelerating the delivery of sustainable infrastructure across shared priority regions. The signing ceremony took place on the sidelines of the Fourth International Conference on Financing for Development (FfD4) in Seville, Spain, and was officiated by Jin Liqun, President of AIIB, and Bader Alsaad, Chairman and Director General of the Arab Fund in the presence of senior representatives from both institutions. President Jin: "Our partnership with the Arab Fund represents a significant milestone in our shared commitment to sustainable development. By combining AIIB's infrastructure expertise with the Arab Fund's deep regional knowledge, we can deliver transformative projects that address the most pressing connectivity and climate challenges. Together, we will mobilize greater resources and drive innovation in infrastructure financing for a more sustainable future." The MoU establishes a comprehensive framework for collaboration between AIIB and the Arab Fund across sovereign and non-sovereign co-financing, joint project preparation, and strategic priorities including climate resilience, cross-border connectivity, and digital infrastructure, and sustainable urban development. Bader Alsaad, Chairman and Director General of the Arab Fund: "This significant partnership with AIIB will enable us to achieve our mission of financing sustainable development across the Arab region, aligning directly with the SDGs. Through this collaboration we will mobilize vital resources and strengthen our support for strategic infra-related initiatives, ultimately contributing to a more prosperous and sustainable future.' This partnership underscores both institutions' commitment to deepening collaboration with regional development partners and advancing innovative, demand-driven approaches to financing sustainable infrastructure for the future. About AIIB: The Asian Infrastructure Investment Bank is a multilateral development bank dedicated to financing 'infrastructure for tomorrow,' with sustainability at its core. AIIB began operations in 2016, now has 110 approved members worldwide, is capitalized at USD100 billion and is AAA-rated by major international credit rating agencies. AIIB collaborates with partners to mobilize capital and invest in infrastructure and other productive sectors that foster sustainable economic development and enhance regional connectivity. About the Arab Fund: The Arab Fund for Economic and Social Development is a regional financial institution based in Kuwait, established in 1972 to support the economic and social development of Arab countries. Through loans, grants, and technical assistance, the Arab Fund finances infrastructure, education, health, water and sanitation and public service projects that contribute to sustainable development and regional cooperation across the Arab world.
Zawya
16-06-2025
- Business
- Zawya
Arab Fund reaffirms commitment to sustainable development
Vienna – The Arab Fund for Economic and Social Development (Arab Fund) joins regional development leaders at the 20th Annual Meetings of the Arab Coordination Group (ACG), the world's second largest development finance group, hosted by the OPEC Fund for International Development, in Vienna. As a member of the ACG, a strategic alliance of ten Arab development institutions, the Arab Fund reaffirms its commitment to advancing inclusive economic growth, climate resilience, and job creation for Arab youth. 'The Arab Fund is committed to shaping a shared development agenda with regional partners, helping member countries achieve their Sustainable Development Goals' said Mr. Bader Alsaad, Director General and Chairman of the Board of the Arab Fund for Economic and Social Development. 'Our new strategy focuses on collaboration and partnerships with regional and international institutions to maximize long-term development impact through our operations', he added. During the meetings, the Arab Fund contributed to high-level roundtable discussion with H.E. Mohamed Ould Ghazouani, President of Mauritania, exploring avenues for strategic cooperation and underscoring the collective commitment of ACG institutions to fostering impactful partnerships. In 2024, the ACG collectively provided $19.6 billion to finance nearly 650 operations across 90 countries. These investments targeted key sectors such as energy, agriculture, and the financial sector, with over 45 percent support for global trade and small and medium-sized enterprises (SMEs). The Arab Fund has played a critical role in advancing regional development impact across Arab countries. Over the past 50 years, the Arab Fund co-financed joint development projects with other Arab financial institutions, contributing $14.63 billion, which represents approximately (31.5 percent) of total co-financing efforts. Among these notable projects is the co-financed electrical interconnection between Nouakchott and Zouerate in Mauritania, undertaken with the Saudi Fund for Development and the Abu Dhabi Fund for Development. This project aimed to provide secure and low-cost electricity to northern Mauritania, thereby strengthening the country's national power transmission network. About the Arab Fund: The Arab Fund for Economic and Social Development is a regional financial institution based in Kuwait, established in 1968 to support the economic and social development of Arab countries. Through loans, grants, and technical assistance, the Arab Fund finances infrastructure, education, health, water and sanitation and public service projects that contribute to sustainable development and regional cooperation across the Arab world. About the Arab Coordination Group (ACG) The Arab Coordination Group (ACG) is a strategic alliance that provides a coordinated response to development finance. Since its establishment in 1975, ACG has been instrumental in developing economies and communities for a better future, providing more than 13,000 development loans to over 160 countries around the globe. Comprising of ten development funds, ACG is the second-largest grouping of development finance institutes in the world and works across the globe to support developing nations and create a lasting, positive impact. The Group comprises the Abu Dhabi Fund for Development, the Arab Bank for Economic Development in Africa, the Arab Fund for Economic and Social Development, the Arab Gulf Programme for Development, the Arab Monetary Fund, the Islamic Development Bank, the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Development, the Qatar Fund for Development and the Saudi Fund for Development. For Media inquiries, please contact: Mohamed Eissa, Joyce Haykal,
Al Etihad
01-06-2025
- Politics
- Al Etihad
Iraq underscores support for political consensus in Lebanon
1 June 2025 19:29 BAGHDAD (WAM) Iraqi Prime Minister Mohammed Shia Al Sudani reaffirmed his government's support for internal political consensus in Lebanon on at a joint press conference with Lebanese President Joseph Aoun at the Government Palace in Baghdad, where Aoun is currently on an official visit, Al Sudani stated, 'Iraq supports internal political consensus in Lebanon and condemns the ongoing Israeli attacks on Lebanese territory.'He noted that the Arab Fund initiative proposed by Iraq has received broad Arab support, adding that Iraq contributed $20 million to the Arab Fund for the Reconstruction of his part, the Lebanese President said Lebanon is committed to maintaining civil peace and upholding the principle of state sovereignty without becoming entangled in conflicts or provoking any party. Aoun said, 'At this critical juncture, we must all reaffirm Lebanon's sovereignty over its entire territory,' emphasising that preserving civil peace is a fundamental pillar for building a just and strong state.
Shafaq News
01-06-2025
- Politics
- Shafaq News
Iraqi PM to Lebanese President: We back Lebanon's sovereignty amid Israeli attacks
Shafaq News/ On Sunday, Iraqi Prime Minister Mohammed Shia al-Sudani met with Lebanese President Joseph Aoun in Baghdad, marking his first official visit to Iraq after assuming office. At a joint press conference, al-Sudani reaffirmed Iraq's support for Lebanon's sovereignty, unity, and stability, pledging to advocate for the country during Iraq's presidency of the Arab League, and rejected the ongoing Israeli violations of Lebanese territory. 'Iraq contributed $20M to the Arab Fund for Lebanon's reconstruction,' he added. Al-Sudani also welcomed the formation of Lebanon's new government as a crucial step toward restoring political order, identifying energy, telecommunications, trade, and private-sector development as 'opportunities that can serve both.' In turn, Aoun expressed appreciation for Iraq's continued assistance, particularly during the recent Israeli war, highlighting joint security challenges, including counterterrorism, as a top priority. Aoun further condemned Israel's ongoing military campaign on Gaza as 'inhumane' and called on the international community to act. 'What is happening in Gaza is unacceptable. The global community must intervene immediately.' Earlier today, the Lebanese president arrived at the Iraqi capital at the invitation of Iraqi President Abdul Latif Rashid. He is scheduled to meet with Rashid to discuss bilateral ties, regional developments, and ways to bolster cooperation between the two countries.
