Latest news with #MohammedAljadaan
Leaders
a day ago
- Business
- Leaders
Finance Minister Wraps Up OPEC Fund Engagements
Minister of Finance Mohammed Aljadaan concluded his participation in the OPEC Fund Development Forum and the 46th Meeting of the OPEC Fund Ministerial Council, held in Vienna, Austria, from June 17 to 18, 2025. The events gathered ministers, global leaders, and heads of multilateral development finance institutions to explore strategies for addressing global challenges. The forum's opening session underscored the importance of inclusive, equitable, and sustainable transitions in global development. Discussions focused on the role of strategic finance, innovative policy-making, and enhanced international cooperation—particularly through South-South partnerships—in advancing global progress. In his remarks, Aljadaan stressed that energy security is essential—not a luxury—for achieving development and inclusive growth. Its absence, he noted, undermines key sectors such as healthcare, education, economic productivity, environmental sustainability, water access, and food security. Amid rising geopolitical tensions, market volatility, and growing global energy demand, Aljadaan called for urgent action to diversify energy sources and expand investment in clean and emerging technologies, including Carbon Capture, Utilization, and Storage (CCUS). He also advocated for innovative financing mechanisms to accelerate energy access and reinforce long-term energy security. Reaffirming Saudi Arabia's commitment to global energy cooperation and climate action, Aljadaan highlighted the Kingdom's goal to generate 50% of its electricity from renewable sources by 2030 and achieve net-zero emissions by 2060 under the Circular Carbon Economy framework. OPEC At the 46th Ministerial Council Meeting, Aljadaan praised the OPEC Fund's strategic vision and its alignment with global development priorities, including the Sustainable Development Goals (SDGs) and food security. He also commended the fund's adaptability in navigating market fluctuations, ensuring continued support to countries and communities in need. As the Fund's highest governing body, the Ministerial Council convenes annually to review and approve audited financial statements, annual reports, and other key matters. These sessions are held either at the Fund's headquarters or at a location designated by the Council. Related Topics : OPEC+ Nations Adjust Production Strategy for Market Stability SFDA Reports Record 82% Surge in Licensed Factories, Warehouses in 2024 Is wheat harmful to the intestine? SFDA clarifies the truth SFDA: National Biotechnology Strategy Highlights Saudi Leadership in Medical Innovation Short link : Post Views: 32
Zawya
2 days ago
- Business
- Zawya
Saudi Minister of Finance stresses energy diversification
Minister of Finance Mohammed Aljadaan emphasised that energy security is not a luxury but a fundamental pillar for achieving development and comprehensive growth. He noted that the absence of reliable energy access hampers progress across vital sectors such as healthcare, education, economic productivity, environmental sustainability, water extraction, and food security. Aljadaan made these remarks during his speech at the Opec Fund for International Development Forum, held in Vienna, Austria, reported SPA. He extended his appreciation to the Opec Fund for organising the forum, which highlights the critical role of economic reforms in strengthening national resilience, addressing financial and economic challenges, and achieving sustainable and inclusive development. The minister underscored that economic reforms aimed at achieving prosperity and tackling development challenges must prioritise securing basic needs, chief among them access to energy. He pointed out that energy poverty affects 1.2 billion people worldwide, with repercussions that transcend borders, including economic instability, rising migration pressures, and growing humanitarian burdens. Aljadaan affirmed that Saudi Arabia is committed to working collaboratively with the international community to enhance global energy security and eliminate energy poverty while simultaneously advancing efforts to combat climate change. He reiterated the Kingdom's ambitious target of generating 50% of its electricity from renewable sources by 2030 and achieving net-zero emissions by 2060, in alignment with the circular carbon economy framework.
Saudi Gazette
23-05-2025
- Business
- Saudi Gazette
Aljadaan outlines Saudi priorities at IsDB Annual Meetings in Algiers
Saudi Gazette report RIYADH — Minister of Finance and Saudi Arabia's Governor at the Islamic Development Bank (IsDB) Group, Mohammed Aljadaan, led the Kingdom's delegation to the IsDB Group's Annual Meetings held in Algiers from May 19 to 22. Held under the theme 'Diversifying Economies, Enriching Lives,' the meetings focused on advancing economic transformation and improving living standards across IsDB member countries, the Ministry of Finance said in a statement. During the general session of the IsDB Board of Governors, Aljadaan addressed the group's strategic framework for 2026–2035, describing it as a foundational roadmap for institutional performance in the coming decade. 'We all recognize that the success of this ambitious vision is closely tied to the establishment of clear and practical mechanisms for measuring development impact,' Aljadaan said. 'An integrated system of indicators will ensure transparency, accountability, and effective monitoring of implementation plans.' In a Governors Roundtable Meeting titled 'Bridging the Gap: Multilateralism, Changing Trade Dynamics, and the Future of Development Finance,' Aljadaan highlighted the IsDB's key role in driving economic growth, regional integration, and fostering intra-trade and joint investment among member states. He called for greater synergy and coordination among IsDB-affiliated institutions. He also urged support for structural reforms to ensure fiscal sustainability and economic stability in the medium and long term, while reinforcing trust in multilateral institutions through enhanced efficiency and inclusivity. Aljadaan also took part in the High-Level Roundtable to operationalize the Riyadh Global Drought Resilience Partnership (RGDRP), stressing the urgent need to address the impact of drought, particularly in vulnerable regions like Africa and the Middle East. 'Drought is no longer a seasonal anomaly—it is a structural threat affecting 1.84 billion people globally, nearly 5% of whom face extreme conditions,' he said. 'Through the RGDRP, Saudi Arabia is reaffirming its Vision 2030 commitment to protect people, restore ecosystems, and foster shared prosperity.' The IsDB Group's Annual Meetings serve as a platform for international leaders, policymakers, and development experts to collaborate on advancing sustainable development, sharing knowledge, and addressing global economic challenges.
Al Arabiya
25-04-2025
- Business
- Al Arabiya
Saudi Minister of Finance holds press briefing on IMFC
Watch Live: Saudi Minister of Finance and IMFC Chair Mohammed Aljadaan and IMF Managing Director Kristalina Georgieva hold a press briefing on the International Monetary and Financial Committee.
Business Recorder
25-04-2025
- Business
- Business Recorder
China, KSA, UAE briefed about economy
WASHINGTON: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has met with the UAE Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini, Saudi Minister of Finance Mohammed Aljadaan and Finance Minister of China Lan Fo'an in Washington DC on the sidelines of IMF-World Bank Spring meetings. Aurangzeb during a meeting with President of the Asian Infrastructure Investment Bank (AIIB) Jin Liqun discussed banks financing for ongoing and future development projects in Pakistan and expressed the government's desire to proceed with the inaugural issuance of Panda Bond within the current calendar year. According to press release issued by finance ministry on Thursday, the meeting was held on the sidelines of the IMF-World Bank Spring Meetings in Washington, D.C. Aurangzeb highlights Panda, ESG bonds in key meetings at Washington: Finance Division Aurangzeb thanked the AIIB for its longstanding support for Pakistan's socio-economic development. He also conveyed Pakistan's keenness to sustain the current momentum of engagement with the Bank. Meanwhile, during a meeting with, Minister of State for Financial Affairs, United Arab Emirates, Mohamed Bin Hadi Al Hussaini, the minister briefed him on Pakistan's economic indicators, the recent sovereign rating upgrade by Fitch, and the privatization agenda of the government. He informed that a Staff-Level Agreement (SLA) had been reached on the first review under Pakistan's Extended Fund Facility (EFF) and a new arrangement under the Resilience and Sustainability Facility (RSF). He appreciated the investment appetite of UAE investors at both G2G and B2B levels and emphasized the importance of translating MoUs into concrete agreements. He also expressed interest in learning from the UAE's experience in regulating cryptocurrency. The Minister extended an invitation to HE Mohamed Bin Hadi Al Hussaini to visit Pakistan. In a meeting with Saudi Minister of Finance Mohammed Aljadaan, Aurangzeb thanked him for Saudi Arabia's longstanding and strong support to Pakistan in its pursuit of economic development, including through support for the IMF programme. He welcomed Saudi investments in Pakistan and reaffirmed the government's resolve to stay the course on reforms. He also extended an invitation to Aljadaan to visit Pakistan. During a meeting with Finance Minister of China Lan Fo'an, the minister recalled their last meeting held in Beijing in July 2024 and thanked the government of China for its unwavering support for Pakistan's socio-economic development and for its strong backing of Pakistan's economic reform programme supported by the Extended Fund Facility (EFF) of the IMF. He briefed the Chinese side on the key reforms being undertaken in the areas of taxation, energy, privatization, public finance, and state-owned enterprises (SOEs). The Minister also provided an update on the status of the Panda Bond and requested the support of the People's Bank of China (PBOC) to fast-track the issuance process. He extending a cordial invitation to the Chinese Finance Minister to visit Pakistan, the press release added. Likewise, in a meeting with President Global Policy and Advocacy of the Gates Foundation, Gargee Gosh, the finance minister appreciated the Gates Foundation's continued support for Pakistan's polio eradication efforts, maternal and child health and nutrition initiatives, family planning services, and vaccine delivery and immunization programs. He lauded the Foundation's collaboration with the Federal Board of Revenue (FBR) in introducing tax system digitalization to transform it into a digital tax administration. The discussions also included the integration of Buna and Raast payment platforms to promote seamless regional payments. The minister requested the Foundation to continue its support for Pakistan's polio eradication initiative and extended an invitation for participation in the upcoming awareness event on May 7, 2025, for the launch of Pakistan's national hepatitis C elimination programme.
