Vienna (Union)
His Excellency Mohammed bin Hadi Al Husseini, Minister of State for Financial Affairs, participated in the second forum of the OPEC Fund for International Development (OPEC Fund) and the meeting of the 44th session of the Ministerial Council of the Fund, which were held in the Austrian capital, Vienna, to discuss regional cooperation on development, ways to open new horizons for synergy and enhance financing opportunities. for sustainable and comprehensive development, and forging new paths towards sustainable development. The delegation accompanying His Excellency included Hamad Issa Al Zaabi, Director of the Minister’s Office, and Thuraya Hamid Al Hashemi, Acting Director of International Relations and Financial Organizations Department at the Ministry of Finance.
Commenting on this, His Excellency Mohammed bin Hadi Al Husseini stressed the importance of such meetings as an important platform for communication and exchange of knowledge between decision makers and representatives of international organizations, companies and civil society on ways to advance development and stimulate economic growth and social progress in low- and middle-income countries around the world.
His Excellency said: “The UAE is keen to continue working and coordinating with various strategic partners, especially the OPEC Fund for International Development, to face the various challenges the world is facing today, including the food security crisis, inflation levels, worsening debts, and climate change, in a way that guarantees the promotion of the global development process and the creation of a better future for humanity.”
The forum, which was held under the slogan “Pushing towards flexibility and equality”, witnessed a number of sessions, including a session entitled “Towards a more innovative development model”, to discuss innovative solutions to the scarcity of development capital, inflexible policies and the need to mobilize financial support for sustainable projects.
Another session entitled “Regional Cooperation as a Basis for Implementing Large-Scale Initiatives” was held to highlight the strength of regional cooperation and successful development initiatives, in addition to a number of sessions that discuss other topics. In addition to the closing session, which was held under the title “Implementing policies and partnerships that give priority to people and the planet”, and focused on enabling women, youth and entrepreneurs to access financing solutions and overcome systemic obstacles that impede progress towards sustainable development.
The meeting of the 44th session of the Ministerial Council of the OPEC Fund for International Development (Ovid) reviewed the annual report and financial statements for the year 2022, and the operations and projects implemented during the year 2022.
The meeting discussed the latest developments in business progress and the level of achievement in the fund’s plans and projects during the year 2022, in addition to approving the nomination of the Director General of the OPEC Fund for International Development for the next session, which starts on November 1, 2023, for a period of five years.
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