Saudi Minister of Finance Muhammad Al-Jadaan inaugurated Thursday the joint annual meetings of Arab financial institutions in Jeddah.
The Kingdom will host the combined annual meetings of Arab financial institutions under the auspices of the Custodian of the Two Holy Mosques, led by the Omani Minister of Finance for the joint session, and in the presence of Arab finance and economy ministers, and others.
These meetings are regarded as a groundbreaking Arab platform for discussing the most pressing financial and economic concerns, as well as achievements, plans, and future initiatives in the fields of sustainable development on regional and worldwide levels.
“The Kingdom is looking forward to hosting the combined annual meetings of the Arab financial institutions,” Saudi Finance Minister Al-Jadaan remarked.
“It is an appropriate chance to examine the results of the institutions’ work over the last year, analyze what has been accomplished, and explore the future potential to improve the role of institutions in increasing cooperation between Arab countries,” he continued.
It’s worth noting that the Arab financial institutions meet in the spring of each year to assess their performance and discuss the items on their agenda.
Institutions play a crucial role in supplying critical funding for developmental projects, as well as supporting the balance of payments, structural adjustment, and investment guarantee services.
In addition, the institutions help to fund development projects in underdeveloped countries.