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The Group of Arab Funds Mull over Bridging the Food Gap in Developing Countries

PUBLISHED ON
26 Jun 2009
CATEGORY
Financial Inclusion
The Arab Gulf Program for United Nations Development Organizations is hosting the 65th Coordination Meeting for the Group of Arab Development Funds in Riyadh, under the auspices Prince Talal bin Abdulaziz, President of AGFUND, due to be held in Marriott Hotel between June 29th and July 1st 2009. The eight Arab aid organizations will be taking part in the event. During the meeting, the Group is scheduled to discuss its vision of bridging the food gap in developing countries, as well as means of coordination for the meeting to be held between Arab Funds and the International Center for Agricultural Research in Dry Areas (ICARDA), so as to forge a common perception of the Group’s contribution in mitigating the impact of the global crisis on agriculture and food. Among the issues to be discussed during the meeting is the Group cooperation with the World Bank concerning water and agriculture in the Arab world, and the Research for Development initiative. The agenda for the Riyadh meeting comprises consultations on the support of programs for literacy and microfinance in Africa, as well as supporting the Group’s input in the development of Palestine. AGFUND will be submitting a working paper on the global crisis, the issue of poverty and relying on the mechanism of micro-credit to help the vulnerable classes. AGFUND will also showcase the successes it achieved in the field of the Banks for the Poor. In addition to AGFUND, the Group of Arab Funds includes: the Islamic Development Bank, the OPEC Fund for Development, Abu Dhabi Fund for Development, Saudi Development Fund, Arab Fund for Economic and Social Development, Kuwaiti Fund for Arab Economic Development, and the Arab Bank for Economic Development in Africa (Badea). Arab Funds set up a working group in order to coordinate development efforts and joint action among Arab finance institutions and to discuss the financing of joint projects. Coordination also aims to integrate the efforts of the Group, and discuss its position regarding current development issues so as to take relevant action in that regard.

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