The Kuwait Fund for Arab Economic Development participated in the 18th meeting of the heads of the Arab Coordination Group's institutions in the Austrian Capital, Vienna.

In a statement, the Fund said that during the meeting, several important topics such as food security and climate change were discussed. It added that the Group emphasized the interest of its national and regional institutions in providing financial aid to sectors affected by the global food crisis to ensure food security.

The meeting also underscored the importance of encouraging joint efforts to combat the impacts of climate change and its challenges, with the Group members contributing to investments in the energy sector. The Climate Finance and Energy Innovation Facility, aiming to accelerate access to clean and affordable energy in developing countries, was also deliberated upon.

Moreover, the economic reform program in Yemen, primarily targeting the economic and financial stability, encouraging sustainable economic growth, and rebuilding and strengthening state institutions through increased support from regional and international institutions, was also discussed.

Furthermore, the Group discussed the 27th session of the Conference of the Parties (COP27) on Climate Change and the 28th session of the same conference, organized by the Abu Dhabi Fund, in collaboration with the International Monetary Fund. The conference aims to enhance international cooperation in the field of climate change and explore sustainable solutions to this issue.

On the sidelines of the meeting, the Group met with the International Monetary Fund and the World Bank to highlight the key issues of the Arab region, set to be discussed during the annual meetings of the Fund and the Bank in Marrakesh, Morocco, from 9th to 15th October 2023.

Support for the Arab Bank for Small and Medium Enterprises, as well as the Migrants Solution Initiative seeking to integrate them into sustainable development, were also discussed.

The Kuwait Fund for Arab Economic Development was represented at the meeting by Acting Director-General Mr. Waleed Shamlan Al-Bahar, Deputy Director of Operations for Arab Countries Mr. Fawaz Abdulaziz Al-Adsani, and Deputy Director of Operations for International Organizations and Bodies, Mr. Khaled Faisal Al-Khaled.