Vienna: OPEC Fund Development Forum Organizes Conference

OPEC Fund Development Forum organized a conference on 20 June 2023 at Fürstengasse 1, 1090 in Vienna, Austria, which was attended by a large number of people. A large number of Ministers, Ambassadors and diplomats of different countries participated on this occasion. Various sessions were held in this program. The conference continued throughout the day.

OPEC Fund for International Development (OPEC Fund) is a multilateral development finance institution that was established in 1976. Its 12 member countries are Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, United Arab Emirates. The OPEC Fund is the world’s only mandatory development institution that provides financing exclusively from member countries to non-member countries. Accelerating economic growth and social development in low- and middle-income countries. Some more details about the OPEC Fund Development Forum. The development finance community has proven to be an important and steadfast partner for developing countries around the world: supporting national development aspirations and reducing poverty, promoting economic growth and building sustainable infrastructure over decades. Is. Current global challenges, including the aftermath of the COVID-19 pandemic, acute food insecurity, the deepening debt crisis and the deepening threats of climate change, are increasing pressure on established aid mechanisms and their effectiveness, resilience and equity. raising the right questions about The global development finance model itself. OPEC has been a long-time advocate of the Fund for International Development – South-South cooperation, a key player in ending global energy poverty, and helping countries around the world achieve their goals under the UN. Three sessions were held on the occasion in which various speakers participated and expressed their views.
Host:
Abdulhamid Alkhalifa Director-General, OPEC Fund for International Development. Mr. Alkhalifa assumed his post as Director-General in 2018. Prior to his appointment at the OPEC Fund he was Deputy Secretary General of the Saudi Arabian Public Investment Fund from 2014 to 2018 and advisor to the Secretary General from 2010 to 2014. He has also held a number of leadership positions at the World Bank Group and served the government of Saudi Arabia in various capacities.
Master of ceremonies Lerato Natasha Mbele Broadcaster and journalist. Ms. Mbele is an international broadcaster, journalist, TV personality and media consultant with a passion for Africa and its development. After nine years with BBC World News, she currently hosts the daily talk show and podcast titled “PowerTalk with Lerato Mbele” at PowerFM987, a business channel owned by the MSG Afrika Group.
Keynote Speaker:
Frannie Léautier Partner, CEO of SouthBridge Investments.Ms. Leautier is a finance and development expert with long-standing global experience leading and transforming organizations in the private, public and not-for-profit spheres. In July 2022 she presented the final report of the G20-commissioned Independent Review of MDBs Capital Adequacy Frameworks.
Special guest speaker Lotay Tshering Prime Minister, Bhutan۔Mr. Tshering assumed the office of Prime Minister of Bhutan in 2018. He has also served as the president of the Druk Nyamrup Tshogpa political party since 2018.
Opening Conversation: An Evolving Development Finance Landscape:
The panel will explore the evolving landscape of development finance from the perspective of Development Finance Institutions. Panelists will engage in a thought- provoking conversation on the changing dynamics of development finance and its implications for global development.
Moderator:
Managing Director. Public Sector Banking, Capital Markets and Advisory Division. Citi Stephanie von Friedeburg, Ms. von Friedeburg is a Managing Director at Citi, leading efforts to scale DFI Strategic Partnerships. She leverages her extensive background in infrastructure/project finance and ESG-aligned financing to support sovereign clients’ national agendas as well as private client needs.
Panelists:
Abdulhamid Alkhalifa
Director-General, OPEC Fund for International Development.Mr. Alkhalifa assumed his post as Director-General in 2018. Prior to his appointment at the OPEC Fund he was Deputy Secretary General of the Saudi Arabian Public Investment Fund from 2014 to 2018 and advisor to the Secretary General from 2010 to 2014. He has also held a number of leadership positions at the World Bank Group and served the government of Saudi Arabia in various capacities
Muhammad Al Jasser Chairman, Islamic Development Bank (SDB) Group. Mr. Al Jasser became Chairman of the Islamic Development Bank Group in 2021. Before that he served as Minister of Economy and Planning and Governor and Board Chairman of the Saudi Arabian Monetary Agency (SAMA), the Saudi Central Bank. He obtained an MA (1981) and a PhD (1986) in Economics from the University of California.
Akinwumi Adesina President, African Development Bank Group (AfDB) Often described as “Africa’s Optimist-in-Chief”, African Development Bank Group President Mr. Adesina is widely lauded for his visionary leadership and passion for Africa’s transformation. Formerly the Nigerian Agriculture Minister, he was unanimously re-elected for a second five-year term as President of the African Development Bank Group in 2020.
Rémy Rioux Chief Executive Officer. Agence Française de Développement (AFD) An expert in economics and international financial institutions, Mr. Rioux has held high-level positions in a career devoted to development, climate and Africa. He has led the French Development Agency (AFD) since 2016, a period that has seen its mandate expanded and its resources significantly increased.
Spotlight: Financing Development:
Given the scale of global challenges and the scarcity of resources required to address them, it is important to rethink the development finance model and enhance the ability of development agencies to address these challenges. Recognizing the need for reform, the G20 commissioned an independent panel of experts to assess means to further boost the capacity of Multilateral Development Banks to do more. The Kingdom of Saudi Arabia, a member of the G20 and major shareholder in multilateral and bilateral development organizations, will provide a shareholder’s perspective on the future of development finance.
Mohammed Al-Jadaan Minister of Finance, Kingdom of Saudi Arabia. Mr. Al-Jadaan is the Minister of Finance of Saudi Arabia, a board member of the Public Investment Fund, a board member of Saudi Aramco and the Chairman of the General Authority of State Real Estate.
Panel Discussion 1: Towards a Transformative Development
Model
Development capital is scarce and development priorities are pressing, while policy restrictions limit what risks governments and multilateral lending institutions (MLIS) can take and where MLIS have always faced difficult choices on how to deploy their resources and are increasingly expected to identify pathways for leveraging or mobilizing financial support, including through bond issuances and public- private partnerships.
Moderator:
Melinda Crane Chief Political Correspondent Deutsche Welle TV. Ms. Crane is Chief Political Correspondent at Deutsche Welle TV and also hosts the DW talk show “To the Point”. She has given speeches and moderated events and discussions for a wide range of international organizations and firms. She studied History and Political Science at Brown University and Law at Harvard, USA
Panelists:
Shukhrat Vafaev Director General, Agency for Strategic Reforms under the President of the Republic of Uzbekistan, Mr. Vataev has served as Director General of the Agency for Strategic Reforms since 2022. Prior to that he was Deputy Minister of Investments and Foreign Trade of Uzbekistan from 2019-2022 He has also served as Executive Director of Uzbekistan’s Fund for Reconstruction and Development.
Veronica Scotti Chairperson Public Sector Solutions, Swiss Re. Ms. Scotti was appointed Chairperson Public Sector Solutions in 2018, with a mandate to establish and grow globally the public sector business segment on behalf of the Swiss Re Group. In over two decades she has acquired extensive experience in the insurance industry with very broad international and functional exposure.
Admassu Tadesse,President Emeritus and Group Managing Director, The Eastern and Southern African Trade and Development Bank (TDB). Mr. Tadesse is President Emeritus and Group Managing Director and serves as Chairman of the TDB Group Executive Management Board. Previously, he was CEO of TDB (2012-2022). He serves on the governing organs of several global and continental industry bodies including the International Development Finance Club and the Africa Investment Forum.
Hela Cheikhrouhou Regional Vice President, Middle East, Central Asia, Türkiye, Afghanistan and Pakistan, International Finance Corporation (IFC),Ms. Cheikhrouhou has served in senior leadership roles in the financial sector, infrastructure finance and climate finance in emerging and developing economies. She has experience in a range of areas including low-emission and climate-resilient investments, sustainable infrastructure and public-private partnerships.
Panel Discussion 2: Regional Collaboration as a Catalyst for Scalable Solutions:
Opportunities to replicate or scale-up successful development solutions should be championed. Shared objectives, resources and expertise are already enabling governments, MLIS and private sector investors alike to pool competitive advantages, more effectively address complex challenges, foster innovation and help ensure that development projects are inclusive, sustainable and scalable. Together, we can identify which initiatives we should focus on, where and why.
Introduction:
Khalid Al Mabrouk Minister of Finance,
Libya, Mr. Al Mabrouk has been serving as Minister of Finance since 2021. Prior to this, he held several leadership positions such as Director of Administration of Financial Recourses Mobilization and Investment, Maghreb Bank for Investment and Trade, and Deputy Chairman of Board of Directors and Executive Director, Investment Fund in Africa.
Moderator:
Andreas Klasen, Professor of International Business, Director of the Institute for Trade and Innovation (IFTI), Offenburg, Germany.
Mr. Klasen is a thought leadership driven academic and senior adviser working at the intersection of scholarly research, education and consultancy. He is Professor of International Business and Director of the institute for Trade and Innovation (IFTI) at Offenburg in Germany.
Panelists:
Perames Vudthitornetiraks, President, Neighbouring Countries Economic Development Cooperation Agency (NEDA), As President of NEDA, Mr. Vudthitornetiraks has led operations in support of Thailand’s policy of economic cooperation in the Greater Mekong Subregion under the theme of “Leave No One Behind” This includes NEDA’s partnership program to neighboring countries, including Cambodia, Lao PDR, Myanmar, Viet Nam, Bhutan, Sri Lanka, and Timor Leste.
Dima Al-Khatib,Director. United Nations Office for South-South Cooperation (UNOSSC),Ms. Al-Khatib has been the Director of the United Nations Office for South-South Cooperation (UNOSSC) since March 2023 She is a sustainable development professional with more than 25 years of leadership and management experience and previously served as the UNDP Resident Representative in the Republic of Moldova.
Dante Mossi, Executive President. Central American Bank for Economic Integration (CABED),Mr. Mossi has held the position of Executive President of the Central American Bank for Economic Integration (CABEI) since December 2018. He holds a PhD in Economics from Vanderbilt University and a Master’s Degree from Duke University.
Ferid Belhaj,Vice President, Middle East and North Africa, World Bank Group (WBG). Mr. Belhaj has served as World Bank Vice President for Middle East and North Africa since 2018. Prior to this he was the Chief of Staff of the President of the World Bank Group for 15 months. From 2012 to 2017 Mr. Belhaj was World Bank Director for the Middle East, in charge of work programs in Lebanon, Syria, Jordan, Iraq and Iran, based in Beirut, Lebanon.
Suzanne Gaboury Director General, Private Sector Operations Department. Asian Development Bank (ADB),Ms. Gaboury leads the ADB’s private sector investment in sectors such as infrastructure, financial institutions, agribusiness, healthcare, and education in Asia and the Pacific A Canadian national, she holds a BA (Economics) from the University of Alberta, Canada, and a Master’s degree in Business Administration from the UCD Michael Smurfit Graduate Business School, Ireland.Conclusion.
Rania Al-Mashat Minister of International Cooperation, Egypt, Ms. Al-Mashat has been Egypt’s Minister of International Cooperation since December 2019 and previously served as the country’s first Female Minister of Tourism between January 2018 and December 2019. Prior to that she was Advisor to the Chief Economist of the International Monetary Fund (IMF) in Washington DC.
Spotlight: Championing Climate & Development Priorities, Climate change poses significant challenges to both developed and developing countries, requiring concerted efforts to mitigate its impact and promote sustainable development. Developing countries, however, face unique challenges in addressing climate change, including limited resources, vulnerable ecosystems, and socio-economic disparities.
Mahmoud Mohieldin United Nations Special Envoy on Financing the 2030 Development Agenda. Mr. Mohieldin is an economist with more than 30 years of experience in international finance and development. Since February 2020, Mr. Mohieldin has been the United Nations Special Envoy on Financing the 2030 Development Agenda.
Dialogue on Sustainable Food Systems:
The dialogue will explore the complex intersection between climate change and food security by identifying challenges hindering the implementation of sustainable practices, infrastructure development and financing mechanisms in order to ensure the development of sustainable food systems.
Moderator:
Adebayo Babalola Acting Director, Strategic Planning Unit, OPEC Fund,Mr. Babalola is the Acting Director, Strategic Planning Unit and responsible for the OPEC Fund’s strategic and business planning activities, in addition to economic services, partnerships and knowledge management. He has a total of 17 years of experience in financial services across development finance, asset management, private equity and commercial banking.
Panelists Sidi Ould Tah, Director General, Arab Bank for Economic Development in Africa (BADEA).Recognized as Development Banker of the Year 2022 by “Financial Afrik”, Mr. Ould Tah has served as Director General of the Arab Bank for Economic Development (BADEA) since July 2015. Prior to that, he served as Minister of Economy and Finance, Minister of Economic Affairs and Development, and Senior Advisor to both the President and the Prime Minister of Mauritania.
Jai Shroff,Chairman and Group CEO, UPL Limited. Mr. Shroff is the Chairman and Group CEO of UPL Limited. He is a well-recognized global leader in sustainable agricultural development and across agribusiness with over 30 years’ experience in India and internationally. Under his leadership UPL has become one of the fastest growing agri-input companies in the world.
Hani Salem Sonbol,CEO. International Islamic Trade Finance Corporation (ITFC). Acting CEO, Islamic Corporation for the Development of the Private Sector
(ICD).
Mr. Sonbol has more than 35 years of experience in development banking, serving in a variety of technical and leading positions across the Islamic Development Bank (isDB) Group. Before assuming his current roles, he held diverse leading positions including Deputy CEO ITFC and Acting CEO at the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).
Stanlake Samkange Senior Director for Strategic Partnerships. United Nations World Food Programme (WFP). Mr. Samkange serves as the Senior Director for Strategic Coordination and Support of the United Nations World Food Programme (WFP), a position he assumed in 2018. Prior to that he served as Director of the Policy and Programme Division (2013 to 2018) and Regional Director for East and Central Africa (2011 to 2013).
Climate Innovation for a Sustainable Future:
The global challenge of climate change demands urgent and innovative solutions for a sustainable future. As the world grapples with the escalating impacts of climate change, it is crucial to foster dialogue and collaboration among stakeholders to drive climate innovation. Innovation can play a multi-faceted role in climate action, enabling the development and deployment of sustainable. technologies, supporting adaptation strategies and driving new financing and business models, Innovative financing approaches can play a critical role in mobilizing private sector financing and helping to plug the significant financing gaps in achieving climate action.
Moderator:
Richard Paton,Partner, EY-Parthenon, MENA Head of EY-Parthenon Advisor to UAE Minister of Climate Change and Environment (MOCCAE),Mr. Paton leads EY Parthenon’s strategy practice in MENA and has over 25 years’ experience advising governments. Currently he is serving in an advisory role to the UAE Ministry of Climate Change and Environment working on all aspects of climate change policies from emissions trading to carbon accreditations.
Panelists:
Special Senior Advisor (Climate Change), Asian Development Bank (ADB),Acting as ADB’s climate envoy. Mr. Evans provides broad oversight and guidance for the bank’s climate
operations, He has more than 40 years experience with
various multilateral development banks, private
organizations, and other international organizations,
including ADB and the World Bank, where he helped
establish the Climate Investment Funds.
Gernot Wagner, Climate Economist and Author, Columbia Business School. Mr. Wagner is a climate economist at Columbia Business School, New York. His research, writing and teaching focus on climate risks and climate policy. He writes a monthly column for Project Syndicate and has written four books. Prior to joining Columbia as senior lecturer, Mr. Wagner, an Austrian citizen, taught at NYU, Harvard and Columbia,
Closing Conversation:
In a world grappling with the complex challenges of climate change, gender inequality and youth empowerment, it is essential to foster policies and partnerships that prioritize the well-being of people and the planet. The inter- connected nature of these issues necessitates a holistic and integrated approach to create sustainable and inclusive solutions. The global development community can achieve greater impact by enhancing partnerships and practicing greater Inclusiveness.
Moderator:
Melinda Crane,Chief Political Correspondent Deutsche Welle TV. Ms. Crane is Chief Political Correspondent at Deutsche Welle TV and also hosts the DW talk show “To the Point”. She has given speeches and moderated events and discussions for a wide range of international organizations and firms. She studied History and Political Science at Brown University and Law at Harvard, USA
Panelists:
Nawal Al-Hosany Permanent Representative of the UAE to the International Renewable Energy Agency (IRENA). Ms. Al-Hosany has been the Permanent Representative of the United Arab Emirates to the International Renewable Energy Agency (IRENA) since 2018. Previously, Ms. Al-Hosany held the position of Executive Director of Sustainability at Masdar, the international renewable energy leader based in Abu Dhabi.
Jan Beagle,Director-General, International Development Law Organization (IDLO). Ms. Beagle has been the Director-General of the International Development Law Organization (IDLO) since 2020. She is a diplomat from New Zealand and a senior international civil servant. She has 40 years of experience in multilateral diplomacy, working on peace and security, development, human rights, management, gender and organizational reform.
Kate Robertson Co-founder. One Young World. Kate served as Chairman of the UK Havas Group from 2006 to 2015 and as Havas Global President from 2013 to 2015. She became a co-founder of “One Young World”, an organization which works to empower and develop young leaders to build a fair, sustainable future for all.
Al Shaimaa Al-Shelby, Senior Director, Strategic Planning & Economic Services, OPEC Fund
Ms. Al-Shelby has more than 18 years of development finance experience. Prior to her current role as the OPEC Fund’s Senior Director of Strategic Planning & Economic Services she served as the Director of the Public Sector Operations, MENA, Central Asia and Eastern Europe Region. She holds degrees from The American University in Cairo and leadership programs at The Wharton School and Cornell University.
On behalf of the management, as the conference was held throughout the day, breakfast, lunch, coffee break in the evening and a special gala dinner were given at night.(Gala Dinner):
A reception and gala dinner was be held at the Garden Palais Liechtenstein. Business formal attire is recommended.
Guest speaker:
Nena Stoiljkovic Under Secretary General for Global Relations Diplomacy and Digitalization, International Federation of Red Cross and Red Crescent Societies (IFRC)
Ms. Stoiljkovic joined the IFRC in October 2020, having worked on global development issues such as climate change, gender, and fragile and conflict-affected situations for over 30 years. Previously she served as Vice President for Asia and Pacific for the International Finance Corporation (IFC).

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