Hosted by the Arab Gulf Programme for Development (AGFUND), the meeting brought together senior representatives and experts from all ACG member institutions. Participants reviewed progress on ongoing programs, explored new opportunities for collaboration, and agreed on key priorities to accelerate sustainable development across member and partner countries.

Discussions focused on enhancing joint financing mechanisms, promoting innovation in development cooperation, and advancing climate resilience and social programs aligned with the Sustainable Development Goals (SDGs). The group also followed up on prior engagements, including virtual meetings held on November 27 with the Green Climate Fund and the Regional Center for Renewable Energy and Energy Efficiency, aimed at fostering new partnerships with potential partners to achieve shared objectives.

The meeting highlighted several key topics, including the Abdlatif Y. Al-Hamad Development Award in the Arab World, Prince Talal International Prize for Human Development,  the Group’s Advisory Report on future strategic directions, and outcomes from ACG’s 50^th Anniversary Celebration, held in October in Washington, D.C. Representatives emphasized the importance of solidarity, shared learning, and coordinated action to address emerging global challenges and strengthen the Group’s collective impact.

The outcomes of the meeting will help guide and reinforce the ACG’s commitment to effective partnerships, innovative financing, and sustainable development globally.

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The portal is a regional knowledge and data platform providing access to reliable development data from various credible sources. The upgraded version will include tools powered by artificial intelligence tools, user-friendly dashboards, and predictive analytics, offering valuable insights into economic trends, global benchmarks, and SDG indicators.

“This collaboration with the Arab Fund, representing ACG institutions, marks a pivotal step in strengthening data-driven, evidence-based decision-making across the Arab region. By enhancing data dissemination and accessibility, we empower policymakers and researchers with the insights needed to address critical challenges in economic development, public health, unemployment, climate resilience, and other key areas aligned with the Sustainable Development Goals,” said Rola Dashti, Under-Secretary-General and Executive Secretary of UN-ESCWA.

The Arab Development Portal was established by the Arab Coordination Group (ACG), an alliance of 10 Arab development institutions including the Arab Fund.

“Partnership is at the core of our new strategy to maximize our impact on social and economic development across member countries,” said Bader Alsaad, Arab Fund’s Director General and Chairman of the Board of Directors. “Together with UN-ESCWA, we will use our expertise and resources to create a data-driven approach that helps policymakers make informed decisions.”

The three-year partnership will include hands-on workshops, the creation of knowledge-sharing resources, and the development of innovative strategies to improve development indicators. It will also strengthen the connection between the portal and its sources and will offer specialized training on AI tools to boost skills in data management and analysis.

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The agreement was finalized virtually in the last week of November. Mourad Mizouri, AMAN Union Project Manager and speaker during Session 4 of the 14th AMAN Union Annual General Meeting announced the agreement during a session focused on unlocking trade opportunities between Arab and African regions, underscoring its strategic importance.

As the Coordinator of the Arab-Africa Guarantee Fund, ICIEC is joining forces with ITFC, which represents the Secretariat of the Arab-Africa Trade Bridges (AATB) Program. Together with Jef Vincent and ActorX GmbH, ICIEC aims to provide a clear roadmap for the establishment and operationalization of the Fund. The initiative will include comprehensive market analysis, consultations with stakeholders, and strategic recommendations to ensure that the Fund operates efficiently and sustainably. 

The Africa-Arab Guarantee Fund is positioned as a transformative initiative under the AATB Program, aiming to close critical gaps in trade and investment facilitation between the two regions. By delivering innovative guarantee solutions, the Fund is expected to empower businesses and investors and significantly enhance economic opportunities across Arab and African nations. 

Commenting on the agreement, Dr. Khalid Khalafalla, Officer-in-Charge of ICIEC, said: “This agreement underscores ICIEC’s commitment to facilitating sustainable economic growth and fostering stronger trade and investment linkages between Arab and African countries. The Africa-Arab Guarantee Fund has the potential to transform trade and investment landscapes in both regions, and this collaboration is a crucial step toward realizing its full potential.”

As a leading multilateral institution providing Shariah-compliant insurance and reinsurance solutions, ICIEC’s role in this collaboration aligns closely with its mandate to promote trade and investment in Member Countries.    

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RIYADH, SAUDI ARABIA: The Arab Coordination Group (ACG), a strategic alliance of ten leading development finance institutions, announced today a landmark commitment of up to US$10 billion by 2030 to address the critical challenges of land degradation, desertification, and drought. The announcement was made during the Ministerial Dialogue on Finance: “Unlocking public and private finance for land restoration and drought resilience”, at the 16th session of the Conference of the Parties (COP16) to the United Nations Convention to Combat Desertification (UNCCD), hosted in Riyadh, Saudi Arabia.

This transformative commitment, made as part of a joint communiqué issued by the Heads of ACG Institutions, will drive land restoration efforts, enhance climate resilience, and promote nature-positive development across vulnerable regions. ACG members will leverage innovative financing instruments, mobilize resources, and strengthen partnerships to support sustainable land management, biodiversity conservation, and food security, particularly in the Middle East, North Africa, and the Sahel.

“The ACG’s US$10 billion pledge underscores our shared determination to address some of the most pressing challenges of our time. By restoring degraded lands and combating desertification and drought, we are not just preserving ecosystems but also securing livelihoods and fostering resilience in the world’s most vulnerable communities,” said Islamic Development Bank Group Chairman, H.E. Dr. Muhammad Al Jasser, speaking on behalf of the ACG.

The Group’s new pledge builds on (and will be primarily sourced from) its US$50 billion pledge made in Riyadh in November 2023 to help build resilient infrastructure and inclusive societies in the African continent, its US$24 billion pledge for climate finance made at COP 27 in November 2022, and its US$10 billion for Food Security Action Package announced in June 2022.

The ACG acknowledged Saudi Arabia’s leadership in advancing key global environmental initiatives, including the Saudi and Middle East Green Initiatives, and the G20 Global Land Initiative. These programs serve as benchmarks for global collaboration and underscore the importance of coordinated efforts to enhance land restoration and climate adaptation.

The Group also reaffirmed its commitment to supporting the global agenda for land protection and restoration as well as the Riyadh Global Drought Resilience Partnership in alignment with the UNCCD objectives. It does so by fostering partnerships, mobilizing resources, and calling for the creation of international platforms for knowledge-sharing and capacity-building to support sustainable land management, climate adaptation, and ecosystem restoration globally.

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The AATB Program aims to connect key stakeholders with companies and investors in Arab and African countries, increase commercial exchanges, and investment flows between the two regions, and support economic integration. By welcoming Africa’s largest economy into the collaborative framework, the AATB Program demonstrates the attractiveness of its commitment to unlocking untapped opportunities, increasing market access, diversifying trade partnerships, and heightening investment prospects for its member countries.

Nigeria’s membership in the AATB Program underscores the country’s strong commitment to expanding its global trade footprint, fostering international partnerships, and boosting economic growth. With an increasing interest in the trade sector and the opportunities it presents, Nigeria would leverage its membership in the AATB Program to harness the benefits of regional economic integration.

Eng. Hani Salem Sonbol, CEO of ITFC and AATB Secretary-General, said: “The admission of the Federal Republic of Nigeria into the AATB Program is a major milestone, and we are confident this new partnership with one of Africa’s economic powerhouses will strengthen investment flows and trade relations between the Arab and African regions. Given the economic potential of Nigeria, we will support the country in its quest to diversify and grow its economy and access new markets across Africa and the Arab regions.”

Nigeria’s participation in the AATB will support the country’s efforts to reduce dependency on oil exports and explore new avenues for trade and investment. Leveraging the country’s strategic geographical location, vibrant economy, and historical ties with the Arab region, Nigeria is well-positioned to play a pivotal role in facilitating trade and collaboration between African and Arab countries.

Arab-Africa Trade Bridges Program’s newest member, Nigeria, is expected to strengthen investment flows and trade relations between the Arab and African regions. The AATB Program aims to promote and increase trade and investment flows between African and Arab OIC Member Countries, provide and support trade finance and export credit insurance, and enhance existing capacity-building tools relating to trade.

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