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Eye of Riyadh
Government | Friday 10 May, 2024 12:47 am |
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Abu Dhabi Fund for Development participates in Arab-DAC Dialogue to enhance development cooperation

 Abu Dhabi Fund for Development (ADFD) participated in the two-day Arab-DAC Dialogue, a crucial platform dedicated to boosting development finance and cooperation to address evolving global challenges. 

 

This year’s event aimed to improve the quantity and quality of development finance and cooperation across diverse needs by focusing on two broader themes: financing for sustainable development in a changing context, and working together for better results and partnerships.

 

The dialogue’s panel discussions delved into crucial topics, including designing and implementing blended finance programs, mobilizing development finance for climate action, and effective partnerships for youth empowerment in the MENA region. Through these discussions, participants aimed to cultivate a deeper understanding of shared values and priorities and explore innovative approaches to deliver impactful development outcomes.

 

 His Excellency Mohamed Saif Al Suwaidi, the Director General of Abu Dhabi Fund for Development, conducted high level meetings with Mr. Carsten Staur, the Chair of the Development Assistance Committee of the Organization for Economic Co-operation and Development (OECD-DAC), where they exchanged views regarding the general approach of development financing organizations, which typically involves creating essential infrastructure to enable investments and designing mechanisms to attract private sector involvement. He emphasized the importance of global cooperation to address challenges, particularly through the use of blended finance mechanisms to bridge the financing gap for the Sustainable Development Goals (SDGs). He also noted the collective need to combat climate change, focusing on defining key areas within the climate agenda to facilitate partnerships and mobilize resources. The significant commitments made to address climate change during international conferences, with specific objectives set by donors to minimize its impacts are key efforts in this direction.In light of upcoming international events such as the Summit of the Future, COP-29, and FFD-4, the Arab-DAC Dialogue assumes paramount importance in aligning priorities, shaping joint political agendas, and establishing actionable follow-up initiatives to inform global processes.

 

Since 2009, the Arab-DAC Dialogue has served as a cornerstone event for knowledge exchange and collaboration in sustainable development, facilitating progress towards the achievement of the Sustainable Development Goals (SDGs). As an active participant, ADFD remains committed to driving positive change and fostering inclusive development globally.

 

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