Tuesday, July 16, 2024

United Nations Honours International Development Bank Chairman for Contributions to Sustainable Development Goals


Chairman of International Development Bank Honoured by United Nations

In a recent event at the United Nations headquarters, focusing on the pressing challenges of achieving sustainable development goals (SDGs), an influential figure in the Arab banking sector was spotlighted for his valuable contributions. Dr. Ziad Khalaf Abd, holding the esteemed positions of chairman of the board of directors of the International Development Bank and a member of the board of directors of the Union of Arab Banks, received distinguished honors for his advocacy and support for innovations fostering sustainable development across the Arab region.

The ceremony took place during a conference titled “Challenges of Achieving the Sustainable Development Goals”, conceived and organized by the Union of Arab Banks. It was here that Dr. Ziad shared insights into the pivotal role of financial infrastructure and investment innovation in bolstering sustainable development. His remarks underscored the imperative of improving financial mechanisms and instituting innovative economic and investment strategies tailored to sustainable progression.

Notable attendees of the conference included esteemed officials from the realm of international finance and development. Among them were Wissam Fattouh, secretary-general of the Union of Arab Banks; Rola Dashti, executive secretary of the UN Economic and Social Commission for Western Asia (ESCWA); and Marion Hoenicke, head of financial inclusion at the EU Enlargement and Neighbourhood Department of the European Investment Bank. The event also welcomed delegations from the UN Industrial Development Organization, the UN Conference of Trade and Development, the International Monetary Fund, and ESCWA.

In a demonstration of recognition and appreciation, Dr. Ziad was awarded an honorary shield by Dr. Fattouh, representing the Union of Arab Banks. This accolade served to acknowledge his substantial and impactful engagement in initiatives aimed at sustainable development.

Dr. Ziad articulated a vision of cooperative efforts and teamwork as instrumental for the economic rejuvenation of regions afflicted by longstanding instability and conflict. He urged for collaborative action to usher in a brighter future for both the current and forthcoming generations in the Arab world. Spotlighting the intrinsic potential for success within the Arab region, Dr. Ziad championed the necessity of a market system as the backbone of civilization and pivotal for navigating transformative phases globally.

Highlighting advancements in the business landscape of the Middle East, Dr. Ziad pointed to improved economic development and investment as central to government agendas. He shared the example of Iraq’s development trajectory, emphasizing cross-border investments and economic integration efforts, including the ambitious development road project linking Iraq with Turkey, the UAE, and Qatar. Such initiatives aim to bolster trade and investment, foster free trade agreements, and connect the Gulf region to Europe.

Addressing the complexities and hurdles on the path to achieving sustainable development goals in the Middle East, Dr. Ziad portrayed the Geneva conference as a pivotal juncture to assess development progress amidst challenges like climate change, peace, and poverty alleviation. He contended that economic growth is spurred by empowering entrepreneurs, cultivating partnerships, investing in R&D, and nurturing human resources.

Dr. Ziad laid special emphasis on the imperative of innovation in banking services and the formation of efficacious partnerships to stimulate economic growth. He argued for directing funds and investments towards projects with significant societal and environmental benefits. Concluding his address, Dr. Ziad advocated for the Arab banking sector to lead in the adoption of financial technologies and the pursuit of financial objectives aligned with sustainable development, challenging the sector to play a proactive role in fostering a promising future in concert with the financial community.

Through his influential roles and fervent advocacy for sustainable development, Dr. Ziad Khalaf Abd exemplifies the proactive leadership necessary to navigate the Arab region towards a more sustainable and prosperous future.

Alexandra Bennett
Alexandra Bennetthttps://www.businessorbital.com/
Alexandra Bennett is a seasoned business journalist with over a decade of experience covering the global economy, finance, and corporate strategies. With a Bachelor's degree in Economics and a Master's in Business Journalism from Columbia University, Alexandra has built a reputation for her insightful analysis and ability to break down complex economic trends into understandable narratives. Prior to joining our team, she worked for major financial publications in New York and London. Alexandra specializes in mergers and acquisitions, market trends, and economic

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