Name: OPEC Fund Development Forum 2024
Start: 25/06/2024 06:30 AM +00:00
End: 25/06/2024 03:30 PM +00:00

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Welcome Address: Dr Abdulhamid Alkhalifa &ndash; President of the OPEC Fund
Dr. Abdulhamid Alkhalifa will welcome the attendees and set the stage for the discussions to follow. He will outline the OPEC Fund&rsquo;s strategic framework and vision for the future, discussing the alignment of the OPEC Fund&rsquo;s objectives with global development goals. The speech will highlight the Fund&rsquo;s key development priorities, including enhancing institutional capacity, accelerating infrastructure investment, and developing human capital.&nbsp;
&nbsp;
Dr. Alkhalifa will also identify critical development challenges that require concerted action, such as climate change, and food security, and discuss the approaches and innovative solutions being implemented by the Fund to help tackle these challenges. He will close by reaffirming the OPEC Fund&rsquo;s commitment to supporting partner countries through strategic investments and partnerships, and encourage active participation and collaboration during the forum.
&nbsp;
Opening Address 1: HE Julius Maada Bio &ndash; President of the Republic of Sierra Leone
HE Julius Maada Bio will begin by welcoming the attendees and thanking the OPEC Fund for the opportunity to speak. He will highlight the progress Sierra Leone has made in addressing key development challenges, discussing achievements in infrastructure development, human capital enhancement, and institutional capacity building. The speech will identify the ongoing challenges Sierra Leone faces, including an infrastructure deficit, pressing human capital needs, and institutional weaknesses, emphasizing the impact of global challenges such as climate change and food insecurity on the country.&nbsp;
&nbsp;
His Excellency will outline the specific solutions and support Sierra Leone needs from the international development community, discussing the importance of partnerships and collaborative efforts to address these challenges effectively. He will share the country&rsquo;s vision and plans for sustainable development, highlighting the potential for growth and development with the right support and investment. The speech will close by calling for continued collaboration and support from the OPEC Fund and other development partners, expressing optimism for achieving sustainable development goals through joint efforts.
&nbsp;
Opening Address 2: HE Mohammed Al-Jaadan &ndash; Minister of Finance, Kingdom of Saudi-Arabia
&nbsp;
Navigating Economic Reform: A Blueprint for Resilience and Diversification
In response to the evolving demands of the global economy and the pressing need for sustainable development, there is a growing consensus on the importance of comprehensive economic reforms. Such reforms are pivotal in enhancing the resilience and adaptability of economies to meet the challenges of the 21st century. The Kingdom of Saudi Arabia, under its ambitious Vision 2030, serves as a testament to the transformative power of strategic economic reform initiatives. These reforms have not only aimed at diversifying the economy but also bolstering economic growth while maintaining fiscal sustainability.&nbsp;
&nbsp;
The speech will serve as a crucial narrative that underscores the multifaceted approach the Kingdom of Saudi Arabia has adopted to foster economic resilience and sustainability. Key themes that the Minister might explore in his address include:
&nbsp;
<ul>
<li>The strategic imperatives driving Saudi Arabia's economic reform initiatives and their alignment with global economic resilience and sustainability goals.</li>
<li>The role of fiscal policy adjustments and structural reforms in achieving economic diversification and growth within the Kingdom.</li>
<li>The impact of Saudi Arabia's economic reforms on enhancing the competitiveness and efficiency of the economy in the global market.</li>
<li>Lessons learned from Saudi Arabia's reform experience that could guide other nations in implementing their economic reform agendas effectively.</li>
</ul>
&nbsp;

Abdulhamid Alkhalifa

HE Julius Maada Bio

HE Mohammed Al-Jadaan

S1/Opening Session

Context Setting Keynotes&nbsp;
<ol>
<li>Dr Kandeh Yumkella &ndash; Chairman of the Presidential Initiative on Climate Change, Renewable Energy and Food Security, Sierra Leone The Road to 2030 The UN&rsquo;s 2030 Agenda is clearly off track, with nearly a third of the SDGs either stalled or going in reverse. The number of people living in extreme poverty has in fact increased over the last five years; hunger has soared to levels last seen in 2005; and global gender equality is still three centuries away from being achieved. How can we &mdash; the international development community &mdash; convert grand declarations and massive commitments into concrete support for vulnerable communities worldwide? Three of the OPEC Fund&rsquo;s core priorities are central to enabling the kind of solutions required: enhancing institutional capacity, accelerating investment in infrastructure, and developing human capital. Dr Yumkella will lay out the context for the day around these three themes. Drawing from his extensive development experience to highlight the centrality of these themes to achieving the SDGs and global development outcomes. He will give an overview of what makes these elements so critical to equitable development, explaining how they are not only interconnected but also interdependent. They will also touch on the roadblocks to progress, particularly in the &ldquo;last mile&rdquo; of development, before proposing how collaboration and innovation can bridge the gap between promise and practice, while serving as a catalyst for delivery. </li>
<li>Nurlan Baybazarov, Deputy Prime Minister, Kazakhstan Fostering Kazakhstan&rsquo;s Strategic Development through Institutional Reform, Human Capital Enhancement, and Robust Infrastructure The Republic of Kazakhstan is harnessing strategic investments in infrastructure and human capital alongside comprehensive institutional reforms. This strategy is aimed at bolstering Kazakhstan's position not just as a regional, but as a global player in fostering sustainable economic growth and stability. Central to Kazakhstan&rsquo;s development strategy is the strengthening of institutional capacities which enables the government to function more efficiently and transparently, thereby enhancing service delivery across sectors. Complementing these efforts are substantial investments in human capital to ensure that Kazakhstan&rsquo;s workforce can meet future economic demands. The "Nurly Zhol" initiative, which encapsulates Kazakhstan's ambitious infrastructure projects designed to enhance connectivity within the region and beyond also highlight the country&rsquo;s investments in upgrading roads, railways, and ports, crucial for facilitating trade and economic activities. The Deputy Prime Minister will highlight how together, these integrated strategies of reforming institutions, enhancing human capital, and investing in infrastructure development underscore Kazakhstan's approach to achieving sustainable development and economic diversification.&rsquo; </li>
<li>Liao Min, Vice Minister of Finance The Pillars of China&rsquo;s Development Success The People&rsquo;s Republic of China has transformed into a global economic powerhouse, lifting almost 800 million out of poverty through strategic investments in infrastructure and human capital, in addition to targeted policy actions. In addition to highlighting some of the measures that made this progress possible, the speech will underline China's commitment to strengthening partnerships with countries worldwide, advocating for mutual respect, shared benefits, and win-win cooperation as the foundation for international relations. Additionally, the speech will stress the importance of South-South cooperation, showcasing how developing countries can leverage shared experiences and resources to tackle common challenges such as poverty, climate change, and food security. The Vice Minister will reaffirm China&rsquo;s dedication to global cooperation and call for unified action to achieve sustainable development goals, expressing optimism about the collective capacity to overcome global challenges through strengthened partnerships.</li>
</ol>
&nbsp;

Nurlan Baibazarov

Min Liao

Kandeh Yumkella

S1/Context Setting Keynotes

Moderator: Kanika Chawla &ndash; Chief of Staff, Sustainable Energy for All
&nbsp;
Panellists:&nbsp;
<ol>
<li>Serge Ekue &ndash; President of the West African Development. Bank (BOAD)</li>
<li>HE Shehan Semasinghe &ndash; State Minister of Finance, Sri Lanka</li>
<li>HE Njuguna Ndung&rsquo;u &ndash; Cabinet Secretary, National Treasury - Kenya</li>
<li>HE Zeina Toukan &ndash; Minister of Planning and International Cooperation, Jordan</li>
<li>Enrique Garcia &nbsp;&ndash; Chairman, Latin American Council for International Relations</li>
</ol>
&nbsp;
Trusted legal frameworks and regulatory policies are the building blocks of effective action &mdash; providing stability, driving resilience, and enabling critical infrastructure development. Enhancing institutional capacity empowers nations to act, while at the same time helping individuals, businesses and communities fulfil their potential. Crucially, reliable institutional frameworks reassure potential investors and instil the confidence required to boost capital flows.
&nbsp;
Yet significant barriers remain. Ensuring adequate funding and boosting human capacity for institutional development remains a challenge; and implementing the right reforms to enhance transparency, accountability and efficiency within institutions can be complex even with political buy-in. Recommended approaches to governance and capacity building may not always be sequenced appropriately or reflect local context. Imposing models without regard to local priorities can lead to resistance and unintended consequences, especially in countries with a history of foreign interference.
&nbsp;
This panel discussion will:&nbsp;
<ul>
<li>Outline the benefits of enhanced institutional capacity and its critical importance to enabling sustainable infrastructure and human capital development.</li>
<li>Identify the primary challenges &mdash; notably how to optimally mobilize and allocate resources and enact governance reforms critical for transparent, accountable and efficient institutions.</li>
<li>Probe those challenging areas in depth, exploring examples of innovative solutions, before discussing how to deploy those solutions more effectively among those who need them most.&nbsp;</li>
</ul>
&nbsp;

Kanika Chawla

Enrique Garcia

Serge Ekue

Njuguna Ndungu

HE Zeina Toukan

S1/Panel 1 - Strengthening Institutions: What is right and what is relevant 

Coffee Break

&nbsp;
MC: Lerato Mbele
H.E. Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications
&nbsp;
As we stand at the forefront of the Fourth Industrial Revolution, the integration of artificial intelligence (AI) into infrastructure development has become a cornerstone for building the societies of tomorrow. The UAE, a pioneer in AI adoption, established the world&rsquo;s first Ministry of AI in 2017, demonstrating its commitment to harnessing AI's transformative potential.&nbsp;
&nbsp;
By deploying AI solutions to bridge infrastructure gaps and enhance connectivity, countries can foster economic growth and sustainable development. International collaboration is also crucial in ensuring that the benefits of AI are distributed equitably, preventing technological divides and promoting global prosperity​.&nbsp;
&nbsp;
In this conversation, His Excellency, the Minister will highlight;
<ul>
<li>The importance of enhancing institutional capacity in order to harness the benefits of Artificial Intelligence;&nbsp;</li>
<li>Opportunities to deploy AI tools to enhance the development and deployment of smart infrastructure;</li>
<li>Human capital requirements of the ongoing AI revolution and what countries need to do to future proof their workforces;</li>
<li>UAE's efforts to share AI expertise with the Global South;&nbsp;</li>
</ul>
&nbsp;

HE Omar Sultan Al Olama

S2/Spotlight Conversation 1 - Smart Infrastructure: Leveraging AI for Global Development

Moderator: Melinda Crane, Chief Political Correspondent, Deutsche Welle TV
&nbsp;
Panellists:&nbsp;
<ol>
<li>HE Dr. Kazim Niaz &ndash;&nbsp;Secretary of Economic Affairs, Pakistan&nbsp;</li>
<li>HE Rania Al-Mashat&nbsp;&ndash; Minister for International Co-operation, Egypt (tbc)</li>
<li>Samaila Zabairu &ndash; AFC CEO</li>
<li>Ramesh Subramaniam &ndash; ADB DG Sectors Group</li>
<li>Heike Harmgart &ndash; Managing Director, Southern and Eastern Mediterranean (SEMED), EBRD</li>
</ol>
&nbsp;
Infrastructure projects play a pivotal role in driving meaningful development, increasing opportunities and transforming lives. Accelerating infrastructure development is key to achieving a number of SDGs, unlocking the potential for sustainable growth and prosperity.&nbsp;
&nbsp;
This is an area where new approaches could pay dividends. Traditional financing routes are beginning to look outdated, creating a need for new partnerships and strategies to deliver projects that target the scale and specific focus required.&nbsp;
&nbsp;
New technologies and processes offer alternative &ldquo;smarter&rdquo; routes through the logistical and institutional barriers to infrastructure development.&nbsp;
&nbsp;
Yet the emergence of energy-intensive technologies underscores a dual challenge: how to leverage these advances for more efficient infrastructure development, while securing the resources needed to adopt intelligent and digital technologies?
&nbsp;
Our panel discussion will:&nbsp;
<ul>
<li>Outline how a commitment to infrastructure contributes to the SDGs, stimulating economic growth, reducing poverty, and enhancing resilience to climate change</li>
<li>Identify the aspects that hold infrastructure back &mdash; including lack of coordinated thinking, shortage of finance, regulatory barriers, and scarcity of human capital &mdash; and ask how they can be challenged</li>
<li>Examine new approaches to raising the required finances, and address the regulatory challenges that may inhibit private sector involvement in major public projects, proposing solutions to ensure they are both bankable and serve public goods.</li>
<li>Ask what new and emerging technologies &mdash; such as AI, remote surveying tools, drone tech &mdash; can do to streamline project planning, design and execution, using examples of these technologies in action in member and partner nations.&nbsp;</li>
</ul>
&nbsp;

Melinda Crane

Samaila Zubairu

Ramesh Subramaniam

Heike Harmgart

Niaz Kazim

S2/Panel 2 - Accelerating Smart and Sustainable Infrastructure

H.E. Muhammad al-Jasser, Chairman, Islamic Development Bank
&nbsp;
As the world recovers from the impact of the COVID-19 pandemic, which has significantly strained resources and hampered development, particularly in the least developed countries, the need for robust, sustainable infrastructure has never been more critical.&nbsp;
&nbsp;
H.E. Muhammad al-Jasser, Chairman of the Islamic Development Bank, will address how strategic infrastructure development is imperative to sustain economic growth, enhance social inclusion, and build environmental resilience.
&nbsp;
In his spotlight speech, H.E. Muhammad al-Jasser will focus on the following key themes:
<ul>
<li>The estimated US$ 15 trillion finance gap and insufficiency of current public financing mechanisms resulting in the need for innovative financial solutions.</li>
<li>The substantial economic prospects in the least developed countries, and the need for rapid infrastructure investments that aim to eradicate poverty, and enhance health and educational outcomes, thereby fostering broad economic development and prosperity.</li>
<li>The role of Islamic Finance in infrastructure development, noting its compatibility with the long-term, asset-based, and risk-sharing needs of sustainable infrastructure projects, making a case for its broader application&nbsp;</li>
</ul>
&nbsp;

Muhammad Al Jasser

S2/Spotlight Conversation 2 - Infrastructure: The Key to Sustainable Development

Lunch Break

&nbsp;
Alvaro Lario &ndash; President, International Fund for Agricultural Development (IFAD)
&nbsp;
Food security remains a critical issue, with an estimated 821 million people currently undernourished worldwide. Among them, 151 million children under five are stunted, 613 million women and girls aged 15 to 49 suffer from iron deficiency, and 2 billion adults are overweight or obese. The food system is under significant pressure from non-climate stressors such as population and income growth, alongside the exacerbating impacts of climate change. Climate-driven food insecurity and supply instability are projected to escalate as global temperatures rise, intensifying the urgency for action.
&nbsp;
In his spotlight speech, Mr Lario will focus on the following themes;
<ul>
<li>The role of innovative agricultural practices in promoting climate smart agriculture that increases productivity while minimizing environmental impacts;</li>
<li>Means to provide smallholder farmers with access to financial services to invest and improve their livelihoods;</li>
<li>Highlighting the importance of investments in rural infrastructure, including roads, irrigation systems, and storage facilities to support agricultural activities and market access.&nbsp;</li>
</ul>
&nbsp;

Alvaro Lario Hervas

S3/Spotlight Conversation 1 - Sowing the Seeds of Resilience: Food Security as the Bedrock of Human Capital Development

&nbsp;
Speaker &mdash; Rafael Mariano Grossi, Director General, IAEA
&nbsp;
Nuclear technologies can offer innovative and competitive solutions to address healthcare challenges by enhancing disease diagnosis and treatment, improving environmental sustainability, and ensuring public health safety. The International Atomic Energy Agency (IAEA) collaborates with countries, applying nuclear techniques to maintain high standards in healthcare quality and safety and facilitate global health improvements.
&nbsp;
In his spotlight speech, Rafael Mariano Grossi will discuss:
<ul>
<li>Holistic, innovative strategies that can leverage nuclear technology to reinforce healthcare systems on a global scale.</li>
<li>Measures to empower medical professionals and healthcare experts globally to manage and treat diseases, boost diagnostic capabilities, and safeguard public health through nuclear technology.</li>
<li>Potential avenues through which nuclear techniques can reduce the burden of non-communicable diseases, promote environmental stewardship, and sustain global health advancements.</li>
</ul>
&nbsp;
In particular, he will highlight the Rays of Hope initiative, which aims to address the growing burden of cancer in low- and middle-income countries by improving access to radiation therapy and other nuclear medicine applications. This initiative represents a beacon of hope, providing essential infrastructure, training, and support to healthcare systems struggling to cope with rising cancer rates.

Rafael Mariano Grossi

S3/Spotlight Conversation 2 - Innovative Healthcare Solutions: The Role of Nuclear Technology in Combating Disease

&nbsp;
Moderator: Andreas Klasen, Professor of International Business, Director of the Institute for Trade and Innovation (IfTI), Offenburg, Germany
&nbsp;
Panellists:&nbsp;
<ol>
<li>HE Faiziddin Qahhorzoda &ndash; Minister of Finance, Tajikistan</li>
<li>Patricia Ojangole &ndash; Managing Director, Ugandan Development Bank</li>
<li>Laura Frigenti &ndash; CEO Global Partnerships for Education</li>
<li>HE Eduard Hakobyan &ndash; Deputy Minister of Finance, Armenia</li>
</ol>
&nbsp;
Investing in human capital is both a moral imperative and a strategic necessity. Empowering individuals and communities through equal access to education, healthcare, equality, and skills development directly contributes to improving people&rsquo;s lives and lays the foundation for inclusive growth and prosperity.&nbsp;
&nbsp;
While these goals are universally lauded, numerous factors are holding back progress: a lack of technology as well as social, economic, political and environmental instability, to name just a few. How do we overcome those obstacles to create a more equitable world?&nbsp;
&nbsp;
This panel discussion will:&nbsp;
<ul>
<li>Outline the most pressing human capital priorities and put them in the context of achieving specific SDGs (including on poverty, hunger, health, education, and equality).</li>
<li>Examine the technological and process innovations that can improve access to education, healthcare, and skills development, and assess how they might also shape the future of work and give an advantage to smaller and less mature economies on the global stage.</li>
<li>Establish the value of human capital in accelerating progress in big picture areas &mdash; with the understanding that a well-educated, healthy and skilled population is the keystone for robust and resilient societies.&nbsp;</li>
</ul>

Laura Frigenti

Patricia Adongo

Andreas Klasen

Eduard Hakobyan

HE Faiziddin Qahhorzoda

S3/Panel 3 - Unleashing the Power of Human Potential 

&nbsp;
Ms. Cindy McCain &ndash; Executive Director, World Food Program
&nbsp;
Building on the previous discussions on food security, the Executive Director of the World Food Program, will provide on-the-ground insights from WFP&rsquo;s extensive work. In an era where climate change exacerbates food insecurity, her speech will delve into the urgent need for collaborative and innovative approaches to create resilient food systems. She will focus on the intersection of food security and climate adaptation, emphasizing the transformative potential of strategic partnerships and community-based solutions.&nbsp;&nbsp;
&nbsp;
The speech will particularly emphasize the necessity of forging strong partnerships between governments, international organizations, private sector entities, and local communities to drive scalable and impactful solutions. This includes announcing the launch of the OPEC Fund and WFP Food Security and Climate Adaptation Facility, aimed at mobilizing resources and expertise to tackle food insecurity and climate change.
&nbsp;

Cindy McCain

S3/Spotlight Conversation 3 - Collaborative Solutions for Food Security and Climate Adaptation

Panellists:&nbsp;
<ol>
<li>Senator the Hon. Chad Blackman &ndash;&nbsp;Minister in the Ministry of Economic Affairs and Investment, Barbados</li>
<li>Ms. Shaimaa Al-Sheiby - Vice President, Strategy, OPEC Fund</li>
<li>Dr. Didacus Jules &ndash; Director General, Organization of Eastern Caribbean States</li>
<li>Ambassador Mere Falemaka &ndash; Permanent Representative, Pacific Islands Forum</li>
</ol>
&nbsp;
Throughout the day, we have explored the significant challenges and the journey toward achieving equitable and sustainable development. While this task is undeniably daunting, we have also been inspired by real-world solutions, examples of effective action, and testimonials from the OPEC Fund&rsquo;s extensive network of members and partners.
&nbsp;
As the 2030 Agenda deadline approaches, our Forum has aimed to provide participants with a clear roadmap for transforming compelling ideas into sustainable realities on the ground. We have emphasized that innovation and collaboration are essential keys to accelerating this progress. We have highlighted the need for a coherent approach to strengthening institutions, accelerating infrastructure development, and boosting human potential.
&nbsp;
In our concluding conversation, we will focus on the unique needs of Small Island Developing States (SIDs), particularly their substantial financing requirements in the context of their acute climate and economic vulnerabilities. These nations are on the front lines of climate change, facing rising sea levels, increased frequency and intensity of natural disasters, and significant economic disruptions. Their geographic isolation and limited resources further exacerbate these challenges, making it imperative that they receive targeted support and investment.
&nbsp;
This session will weave together the main themes of the day, highlighting their interconnectedness and potential to drive accelerated progress towards a sustainable future. We will delve into practical solutions, such as climate-resilient infrastructure, sustainable energy projects, and innovative financing mechanisms that can help SIDs navigate their unique challenges.
&nbsp;
By focusing on these critical areas, we aim to underscore our collective capacity for change and the importance of tailored support for SIDs. The OPEC Fund recognizes the urgency of these issues and is committed to being part of the solution. Therefore, the OPEC Fund will announce a new initiative specifically aimed at supporting Small Island Developing States to close the session.
&nbsp;

OPEC Fund Development Forum 2024

Agenda

Speakers32 Speakers

Abdulhamid Alkhalifa

HE Julius Maada Bio

HE Mohammed Al-Jadaan

Serge Ekue

Rafael Mariano Grossi

Alvaro Lario Hervas

Muhammad Al Jasser

Cindy McCain

Nurlan Baibazarov

Min Liao

HE Omar Sultan Al Olama

HE Shehan Semasinghe

HE Zeina Toukan

Njuguna Ndungu

Niaz Kazim

HE Faiziddin Qahhorzoda

HE Chad Blackman

Samaila Zubairu

Laura Frigenti

Enrique Garcia

Shaimaa Al-Sheiby

Ramesh Subramaniam

Heike Harmgart

Didacus Jules

Patricia Adongo

Eduard Hakobyan

Mere Falemaka

Kandeh Yumkella

Natasha Mbele Lerato

Melinda Crane

Andreas Klasen

Kanika Chawla

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OPEC Fund Development Forum 2024

Agenda

Speakers.css-rqgjni{margin:0;font-size:1.4rem;font-weight:500;line-height:1.5;color:#3363b7;font-family:'Poppins',sans-serif;margin-left:0.8rem;}32 Speakers

Abdulhamid Alkhalifa

HE Julius Maada Bio

HE Mohammed Al-Jadaan

Serge Ekue

Rafael Mariano Grossi

Alvaro Lario Hervas

Muhammad Al Jasser

Cindy McCain

Nurlan Baibazarov

Min Liao

HE Omar Sultan Al Olama

HE Shehan Semasinghe

HE Zeina Toukan

Njuguna Ndungu

Niaz Kazim

HE Faiziddin Qahhorzoda

HE Chad Blackman

Samaila Zubairu

Laura Frigenti

Enrique Garcia

Shaimaa Al-Sheiby

Ramesh Subramaniam

Heike Harmgart

Didacus Jules

Patricia Adongo

Eduard Hakobyan

Mere Falemaka

Kandeh Yumkella

Natasha Mbele Lerato

Melinda Crane

Andreas Klasen

Kanika Chawla

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Speakers32 Speakers

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