During a conference at the United Nations headquarters on the challenges of achieving sustainable development goals, Dr Ziad Khalaf Abd, Chairman of the Board of Directors of the International Development Bank and Member of the Board of Directors of the Union of Arab Banks, was honored.
He emphasized the need to support innovations that enhance sustainable development in the Arab region, highlighting the necessity of improving financial infrastructure and boosting economic and investment innovations pertinent to sustainable development.
In his speech at the opening session of the "Challenges of Achieving the Sustainable Development Goals" conference, organized by the Union of Arab Banks at the United Nations headquarters in Geneva, Dr Ziad underscored the importance of financial infrastructure and investment innovation in supporting sustainable development.
Prominent participants included high-ranking financial and banking officials and representatives from international organizations, such as Dr Wissam Fattouh, Secretary-General of the Union of Arab Banks; Dr Rola Dashti, Executive Secretary of the Economic and Social Commission for Western Asia (ESCWA); and Marion Hoenicke, Head of Financial Inclusion, EU Enlargement & Neighborhood Department, of the European Investment Bank.
The event also featured representatives from UNIDO, UNCTAD, the International Monetary Fund, and ESCWA.
During the two-day conference, Dr Ziad Khalaf Abd was awarded an honorary shield by Dr Wissam Fattouh in recognition of his substantial contributions to sustainable development. In his address to the large audience, Dr Ziad referred to money as growth and highlighted the power of teamwork in fostering economic development in a region long plagued by instability and conflict. He called for cooperation to build a better future for present and future generations.
Dr Ziad emphasized that growth must occur in the Arab region, which possesses all the ingredients for success. He stated that a market system is the infrastructure of our civilization, essential for navigating the transformational phases of our world.
He noted improvements in the business environment in the region, which has become a major component of governmental plans, with economic development and investment as key priorities. He cited the development process in Iraq as a model for cross-border investments leading to financial and economic integration. He also mentioned the promising future of the development road project linking Iraq, Turkey, UAE, and Qatar to enhance trade and investment, establish free trade agreements, and connect the Gulf to Europe.
According to Dr Ziad, the path toward achieving sustainable development goals is riddled with challenges in the Middle East. The Geneva SDGs conference provided an opportunity to measure the status of development in the Arab region, considering obstacles such as climate change, achieving peace, and alleviating poverty.
Dr Ziad stressed that economic growth is driven by empowering entrepreneurs, forging partnerships, investing in research and development, and human resources. He highlighted the need for innovation in banking services and the establishment of effective partnerships to ensure economic growth. He emphasized that funds and investments should be directed toward projects with positive societal and environmental impacts.
Dr Ziad stated that the banking sector in Arab nations should lead in the innovation and implementation of financial technologies to achieve desired financial goals. The sector must take a proactive role in developing sustainable development, envisioning a better future in collaboration with the financial sector.
