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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MUMBAI: The National Bank for Agriculture and Rural Development (NABARD) marked its 44th Foundation Day with a commemorative event in Chennai, celebrating its journey as a pivotal institution in India’s rural development. The occasion brought together key policymakers, state officials, banking leaders, and grassroots innovators to reflect on NABARD’s enduring mission and unveil a new chapter of forward-looking initiatives.

The celebrations were graced by Shri M. Nagaraju, Secretary, Department of Financial Services, Govt. of India; Shri N. Muruganandam, Chief Secretary, Government of Tamil Nadu; Shri Shaji K V, Chairman, NABARD, apart from Sri. G.S. Rawat and Sri A.K. Sood, Deputy Managing Directors of NABARD. The event also saw participation of MDs of Indian Bank and Indian Overseas Bank, apart from NABARD’s top leadership and senior officials from central and state governments.

A thought-provoking panel discussion on “Fostering Rural Enterprises for Inclusive Growth” set the tone for the evening, highlighting how rural entrepreneurship can serve as a key driver of job creation, innovation, and equitable development. An exhibition showcasing traditional crafts, agro-products, and rural innovations reflected the dynamic enterprise of India’s villages.

Shri Shaji K.V., Chairman, NABARD, in his address, stated, “NABARD’s 44-year journey is a testament to our unwavering commitment to rural transformation. From enabling access to finance and infrastructure to fostering innovation and resilience, our work has touched millions of lives. As India accelerates toward inclusive growth, NABARD is prepared to lead from the front through digital transformation, support for rural enterprises, and mission-led programmes that unlock grassroots potential. Our focus now is to scale high-impact solutions, nurture entrepreneurial ecosystems, and ensure sustainability remains at the heart of development.”

Shri M. Nagaraju, Secretary, DFS, GoI, lauded NABARD’s enduring impact: “For over four decades, NABARD has served as a cornerstone of India’s rural development strategy. Its initiatives reflect the government’s vision for an inclusive and future-ready rural economy. As we move into an era defined by climate challenges and digital opportunities, NABARD’s role in strengthening rural livelihoods and institutions will be more critical than ever.”

Shri N. Muruganandam, Chief Secretary of Tamil Nadu, acknowledged NABARD’s contributions in Tamil Nadu, saying that, “NABARD’s support has been instrumental in enhancing rural livelihoods and building self-reliant communities across Tamil Nadu. Its efforts in empowering SHGs, supporting infrastructure, and promoting inclusive finance are deeply appreciated.”

The evening witnessed the launch of several strategic initiatives aimed at expanding NABARD’s outreach and deepening its development impact:

• Inauguration of NABARD’s Sub-office in Leh, Ladakh, reinforcing its commitment to reach India’s most remote regions with credit, capacity building, and development finance.
• Launch of NABARD’s official WhatsApp Channel to enhance real-time communication and deliver market advisories, FPO information, and product updates directly to rural stakeholders.
• Radio Jingle for Financial Inclusion, targeting rural and semi-urban listeners across AIR and community radio networks with awareness messages on savings, credit, and insurance.
• Graduated Rural Income Generation Programme (GRIP), a livelihood intervention for ultra-poor rural households using returnable grants and capacity support to transition them into formal economic activity.
• RuralTech CoLab Portal, an open digital innovation platform enabling startups, research institutes, and tech developers to co-create, test, and scale rural-centric technologies.
• Launch of “NIVARAN”, a dedicated Internal Grievance Redressal System for Rural Cooperative Banks, offering 24×7 digital access for complaint resolution and governance improvement.

The evening also featured the premiere of “Green Roots: NABARD’s Journey Towards Climate Resilience”, a documentary chronicling NABARD’s decades-long work in promoting sustainable agriculture and environmental stewardship.

Additionally, the following publications were released:

• “RIDF@30: A Journey of Rural Transformation” – celebrating 30 years of the Rural Infrastructure Development Fund and its role in reviving rural connectivity, irrigation, education, and health infrastructure.
• “Grameen Bharat Mahotsav” Coffee Table Book – capturing the vibrant spirit of the January 2025 event at Bharat Mandapam, showcasing rural India’s entrepreneurial and cultural vibrancy.
• “Beyond Numbers 2025” – a narrative impact report highlighting NABARD’s multi-dimensional work across credit, climate, digital, and institutional ecosystems.

With a renewed sense of purpose and a host of visionary initiatives, NABARD’s 44th Foundation Day reinforced its stature as a vital national institution powering India’s rural future. The event reflected not only the achievements of the past but also the momentum for the road ahead, rooted in impact, inclusion, and innovation.

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In FY24, the Company acquired projects in Pune and MMR with a total topline potential of approximately INR 4,000 crore

PUNE: Kolte-Patil Developers Limited (BSE: 532924, NSE: KOLTEPATIL; KPDL), a leading Pune based real estate player with growing presence in Mumbai and Bengaluru, has signed two new society re-development projects in the western suburbs of Mumbai with total saleable area of ~3.06 lakh square feet translating into top-line potential of ~INR 545 crore. The two acquired projects are at strategic locations in prime residential areas, Dahisar and Versova, in line with the company’s growth and diversification goals of expanding its presence in Mumbai. With these additions, the company now has a total of fifteen projects in the Mumbai Metropolitan Region (MMR), addressing a wide spectrum of real estate demand in the city.

Project Details:

1. The Dahisar project is well connected to the Western Express Highway. Further, the proximity to the metro connecting via Andheri and its further expansion to the BKC add to the attractiveness of the project. The Company has demonstrated success in the Dahisar micro-market following the execution of its residential re-development project, Vaayu.
2. The Versova project has strong demand potential and access to rapidly expanding public infrastructure including the metro lines and the proposed Versova-Virar Sea Link which will provide coastal road connectivity between South Mumbai and Western suburbs.

Commenting on this announcement, Rahul Talele, Group CEO, of Kolte-Patil Developers Ltd. said, “I am happy to announce the addition of two new society redevelopment projects in the western suburbs of Mumbai. This marks another significant milestone in our journey to strengthen our presence in Mumbai which represents the largest real estate market in the country. These projects align with our strategic goals and we are confident that our active initiatives and growing presence in society re-development space will continue to enhance our standing in the MMR market in a significant manner.

Our success comes from navigating the complexities of the real estate landscape and executing projects with speed in line with the preferences and requirements of our customers to deliver an elevated brand experience. The acquisition of these projects further demonstrates our commitment to growth and diversification beyond Pune. With a decade-long presence, we are well positioned to capitalize on the tremendous opportunity in Mumbai for trusted developers like Kolte-Patil.”

During the year FY24 till date, the Company has successfully acquired eight projects, comprising two in Pune and six in MMR, with a combined total development potential of 3.3 million square feet and a topline potential of ~INR 4,000 crore. The company remains committed to expanding on the back of innovative, capital-efficient opportunities for continued growth and expansion in its targeted markets.

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MUMBAI: MahaRERA (Maharashtra Real Estate Regulatory Authority), a real estate regulatory body, will propose a discussion paper on quality guidelines for realty projects in the state.  These directives will help monitor the quality of housing with a view to safeguarding the interests of homebuyers in order to get houses of good quality, announced Mr. Ajoy Mehta, Chairman, MahaRERA while addressing the Real Estate Forum, 2023 in Mumbai. JLL was the knowledge partner at the event.

Mr Mehta said, “In Maharashtra, 1.6 crore citizens are waiting for homes and about 14 lakh homes are under construction. Hence, the Government recognizes the importance of the real estate sector and good housing. While the foundation of regulation will remain the same, more emphasis will be laid on the issue of timely construction, delivery, and quality of housing, as well, in order to make good housing available to all.“

The Real Estate Forum, 2023 organized by NAREDCO Maharashtra was inaugurated today at the hands of Mr. Atul Save, Minister of Housing, Government of Maharashtra in the presence of Mr. Ajoy Mehta, Chairman, MahaRERA; Dr. Sanjay Mukherjee, Metropolitan Commissioner, MMRDA; Smt Valsa Nair Singh, Additional Chief Secretary, Ministry of Housing, Government of Maharashtra and Mr. Pravin Darade, Secretary, Ministry of Environment, Government of Maharashtra. Also present were Mr. Sandeep Runwal, President, NAREDCO, Maharashtra, Dr Niranjan Hiranandani, Vice Chairman, NAREDCO, and Mr. Rajan Rajan Bandelkar, President, NAREDCO National. 

Appreciating NAREDCO Maharashtra’s efforts to organize the Real Estate Forum, MrAtul Save, Minister of Housing, Government of Maharashtra said, “The Government understands the importance and contribution of the real estate sector in the State’s development. The Government aims to ensure good housing to every person in the State and in order to achieve this; it will sort out any issues in the real estate sector.”   

Welcoming the real estate sector fraternity to the mega Real Estate Forum, 2023, Mr Sandeep Runwal, President, NAREDCO Maharashtra said, “When the real estate sectors in countries like China, and USA are struggling, India’s real estate sector is a global bright spot. In Maharashtra, infrastructure projects are driving the growth of the State while the RERA is evolving well to bring transparency and quality to the functioning of development. In these interesting times, we foresee seamless growth of the State’s real estate sector with conducive policies from the Government and issues getting addressed in real-time.” Mr Runwal further announced the launch of an ambitious  RealTech Fund (RTF) with an initial corpus of Rs 50 crore to propel technology innovations in the real estate sector and inculcate entrepreneurship. 

Dr Niranjan Hiranandani, Vice Chairman, NAREDCO National lauded India’s prominence globally as an emerging economy and the real estate sector’s contribution to the growth story. Calling Maharashtra’s strides in ensuring ease of doing business, transparency through RERA implementation, and infrastructure development phenomenal, Dr Hiranandani said, “Housing and infrastructure development in the state has grown significantly. With more urban infrastructure projects underway, the State and the city of Mumbai need housing for all. The State’s real estate sector’s aspiration is to give a home to every person. We need a further slew of pro-housing initiatives like reducing stamp duty and registration charges to boost housing demand.”  

Mr Rajan Bandelkar, President, of NAREDCO National said, “The earlier decade was for Information and technology, telecommunications, but now it is of the real estate sector; mainly due to the Central and State Government’s focus on housing for all and making commensurate policies.” 

During the event, NAREDCO Maharashtra unveiled two new State Chapters of Karad (in Satara District) and Akola. NAREDCO Maharashtra also announced another flagship event Homethon, 2023 to be scheduled on 24, 25 & 26th November, 2023. The event also saw the launch of a NAREDCO – JLL Research Report titled: Unlocking Opportunities with Infrastructure Development. According to the report, residential sales value in Mumbai is projected to exceed INR 2 lakh crore by 2030.

The report further states that mid-segment projects still account for most of the market activity in Mumbai. However, with changing customer preferences, there is an increased focus on upper mid and premium segments. Mumbai has been the fastest-moving city in terms of its home purchase affordability index score and became an affordable market with its threshold hitting 100 in 2021.

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LUANDA, ANGOLA: The Emerging Senegal Plan – a framework for the country’s economic and social policy – prioritizes infrastructure development and aims to drive long-term growth on the back of private investment. The strategy is divided into two phases, with the first relying on public investment-led growth and the second prioritizing private investment.

To support this, the government established a new public-private partnership statute in 2021 to boost private sector involvement and reduce the government’s financial burden, leading to the launch of several large-scale infrastructure projects.

Dakar Bus Rapid Transit Project

The Dakar Bus Rapid Transit (BRT) project is a comprehensive metropolitan program that aims to provide high-quality transportation. It entails a mass transportation system comprised of large-capacity electric buses that operate solely in dedicated lanes. The BRT project, which is set to begin in the fourth quarter of 2023, will cover a route of 18.3 km, traveling through 14 communes and serving around 300,000 people daily. The BRT, which is being funded by both the World Bank and the European Investment Bank (https://apo-opa.info/3PRDR7z), will cut travel time from an average of 95 minutes to 45 minutes, enabling increased urban mobility and access to employment and markets.

Phase II of the Regional Express Train

The 19-km connection between Diamniadio and Blaise-Diagne International Airport is expected to be finished by the end of 2023, with the addition of seven more trains. When the line is finished, the journey from Dakar to the airport (55 km) will take 50 minutes at a peak speed of 160 km/h. Firms Equans and Thales are in charge of signaling and electrification, while firms Eiffage, ENGIE Ineo, and Alstom are in charge of construction. In an interview with Energy Capital & Power, Malick Guaye, First Deputy at the Municipality of Sandiara, indicated that the train should eventually reach the city’s special economic zone.

Port of Ndayane

Construction on the planned port of Ndayane began in April 2023 and is projected to be completed in 2026, making it one of the major ports in West Africa. The project, which spans over 1,500 hectares, is funded by the Senegalese government with a 40% stake and Dubai Port World with the remaining 60%, as well as help from foreign banks. The port’s goal is to accommodate larger vessels and manage more cargo, increasing the transportation sector and cementing Senegal’s status as a key economic hub in West Africa. The first phase of development will feature a 5 km marine waterway and a container terminal of 840 meters. A 300-hectare special economic zone will be linked to the port.

Dakar-Thiès-Tivaouane-Saint-Louis Highway

Senegal has started the construction of a 200-km roadway connecting Dakar to Tivaouane and Saint-Louis. The project’s goal is to increase connectivity in the country’s northern areas and make it easier to harness the region’s mineral and agricultural resources. The government, the World Bank, the Saudi Fund, and the Société Générale banking group are all contributing to the construction. The highway will be critical in trans-African roadways connecting Tanger to Nouakchott, Dakar to Lagos and Alger, and Nouakchott to Dakar.

Renovation of Regional Airports

Following the reopening of the Saint-Louis airport, which now has the infrastructure to receive flights from Europe, the airports of Cap-Skirring, Kolda, Sédhiou, Simenti, Kaolack, Podor, Bakel and Linguère will be upgraded to meet regional development standards and to capitalize on their economic and touristic potential. The makeover will serve to enhance tourism in the country.

The upcoming MSGBC Oil, Gas & Power conference and exhibition – which is organized by Energy Capital & Power and taking place from November 21-22 this year – will further unpack developments underway across Senegal’s infrastructure sector. During the conference, high-level speakers from Senegal including the Minister of Petroleum and Energies Sophie Gladima will provide updates on some of the country’s largest infrastructure and connectivity projects while showcasing future investment opportunities. For more information, visit https://MSGBCOilGasandPower.com/

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