Abu Dhabi, 28th June 2010 Abu Dhabi Fund for development hosted at its headquarters, the 67 regular meeting for the coordination group, which consist of nine institutions, three of which are national institutions including the Kuwait Fund for Arab Economic Development, the Saudi Fund for Development, the Abu Dhabi Fund for Development, and five regional organizations consisting of the Arab Fund for Economic and Social Development, Islamic Development Bank, OPEC Fund for International Development, the Arab Bank for Economic Development in Africa, the Arab Gulf Program for United Nations Development Organizations (AGFUND) as well as the Arab Monetary Fund.
This meeting which held in regular bases every 6 months, aims to enhance the effectiveness of development assistance through the exchange of information, knowledge and experience between the institutions of the Coordination Group, in addition to coordination financing efforts, particularly for major projects which required joint cooperation between the development institutions.
Commenting on the event, said the Director of loans and equities department, Mrs. Fawzeia Al Mubarak on behalf of the Acting Director General of Abu Dhabi Fund for Development “that this meeting aims to establish a sustainable mechanism between the institutions of national and regional coordination, which leads to concrete results, especially in the area of poverty eradication in addition to strengthening cooperation and collaboration between these institutions”.
Its worth mentioning, that the coordination group since its inception in 1975 has held sixty-six regular meeting to exchange of views in a number of themes related to policy, processes and information on funding requests submitted to each member of the group, and review the conditions of some countries and projects of special nature, also, discuss the group's relationship with regional and international financial institutions, further to that, holding consultative meetings with the beneficiary countries to discuss their development plans.