On behalf of Minister of Finance Mohammed bin Abdullah Al-Jadaan, Assistant Minister of Finance for Macro-Fiscal Policies and International Relations Abdulmohsen bin Saad Al-Khalaf headed the Kingdom's delegation to the Joint Annual Meeting of Arab Financial Institutions and the meeting of the Council of Arab Finance Ministers. Attending the meetings were Arab finance ministers and economy; chairmen of the boards of directors of Arab financial institutions; governors of Arab central banks; directors of Arab financing institutions; representatives of the International Monetary Fund (IMF), World Bank, and Organization for Economic Cooperation and Development (OECD); and experts and specialists from the ministries of finance in Arab countries in the financial and economic fields. The meetings addressed the role of Arab financial institutions in lending financial and technical support for major development projects in the Arab region, and their contributions to supporting joint Arab action. Participants discussed challenges facing Arab countries, reviewed several innovative initiatives and future projects suggested in the working papers submitted by the Arab Financial Institutions, and reviewed their financial and operational performance and studying the approval of financing and investment operations programs for the year 2023. During his speech at the meetings, Al-Khalaf indicated that the Kingdom values the pioneering role of the Arab Financial Institutions in backing economic and social development in the Arab countries, and their initiatives for rehabilitating youth capabilities, developing human capital, and supporting small and medium enterprises to provide job opportunities. He also stated that the Kingdom will remain supportive of joint Arab action, asserting the importance of diversifying investment for the financial institutions by investing in their basic operations, and not only investing in global markets. The Assistant Minister of Finance for Macro-Fiscal Policies and International Relations participated in the meeting of the Council of Arab Finance Ministers, which was held on the sidelines of the annual meetings, where participants discussed financial and economic issues of mutual interest. The meeting addressed the latest financial and economic developments, as well as coordination between Arab countries in international financial organizations, particularly the World Bank and the IMF. During the Council of Arab Finance Ministers, Al-Khalaf delivered a speech on the role of financial policies in enhancing food security and addressing the challenges of climate change. He also reviewed experiences and expertise in the field of economic reforms and financial policies.
