AGFID Concludes Participation in New York Concordia Summit with Signing of Development Agreements with International Organizations

Kuwait City, 29 September (KUNA) – The Arab Gulf Programme for Development (AGFUND) concluded its participation in the 2026 annual Concordia Summit and its program of activities in New York City by signing several agreements with international organizations to support projects in the fields of digital innovation, financial inclusion, artificial intelligence, climate action, and youth empowerment.

In a press statement issued on Tuesday, the program explained that this participation aligns with its efforts to strengthen partnerships and expand cooperation with institutions and organizations working in the field of human development. It also reflects AGFUND’s orientation toward supporting initiatives that promote inclusion and respond to developmental and climate challenges, thereby enhancing its contribution to investing in people and supporting sustainable development.

The statement added that AGFUND signed four agreements in New York to finance and support developmental projects with the United Nations Development Programme (UNDP), the Intergovernmental Authority on Development (IGAD), and the United Nations Convention to Combat Desertification (UNCCD).

AGFUND signed two agreements with the UNDP. The first concerns the project titled “Financial Technology Lab at the Central Bank of Yemen: A Pilot Platform for Digital Financial Services and Financial Inclusion,” which is being implemented in Aden, Republic of Yemen. The project aims to establish a fintech lab at the Central Bank of Yemen to enhance digital financial services and financial inclusion, build institutional capacity, and support the testing and development of innovative financial solutions.

The second agreement relates to the project titled “Leveraging Artificial Intelligence to Achieve Economic Growth in the Arab Region: Harnessing AI for Inclusive Development and Human Progress.” This project aims to utilize the potential of artificial intelligence to support economic growth, enhance inclusive development, and advance human progress in the Arab region.

The third agreement, with IGAD, supports a project aimed at activating early warning investments by enhancing microinsurance and climate risk financing capacities in the IGAD region. The project is being implemented in Ethiopia, Somalia, Kenya, and Djibouti.

The fourth agreement, with the UNCCD, supports the project titled “Enhancing Youth Participation for Land Restoration and Drought Resilience under the UNCCD Youth Engagement Strategy.” This project aims to provide opportunities for youth to actively contribute to land restoration and enhance drought resilience. It is being implemented in Mongolia.

Hammam bin Nasser bin Jarid, CEO of AGFUND, participated in the main stage of the Concordia Summit in a session titled “New Capital, New Model: Accelerating the Next Phase of Development.” The session discussed the transformations underway in the development sector and the need for models that combine capital, partnerships, and institutional capacities, while also outlining AGFUND’s orientation for the next phase.

The statement noted that AGFUND announced during its participation in the summit the opening of nominations for the 2026 Prince Talal International Award for Human Development. This year’s theme is dedicated to Sustainable Development Goal 3: Good Health and Well-being. Stakeholders are invited to submit their nominations by February 15, 2027.

The total value of the Prince Talal International Award for Human Development is one million US dollars, distributed across four categories. The award aims to honor outstanding developmental projects, disseminate their experiences, and leverage them to improve development work. Since its launch in 1999 through the 2025 edition, the award has honored approximately 95 winning projects. AGFUND receives nominations electronically from various countries worldwide in accordance with approved conditions and mechanisms.

During its participation in the summit in New York, the program organized a roundtable titled “Digital Inclusion: Inclusive Innovation and Sustainable Impact.” The session featured representatives from international institutions and organizations, as well as stakeholders in development and innovation, discussing ways to harness technology and innovation to expand the scope of digital inclusion, enhance communities’ access to opportunities and services, and explore the role of artificial intelligence, data, innovative financing models, and international partnerships in developing scalable and sustainable development solutions.

The annual Concordia Summit is an international platform that brings together leaders from the government, private, and non-profit sectors. The 2026 edition was held in New York in parallel with the proceedings of the United Nations General Assembly.

AGFUND was established based on the initiative of the late Prince Talal bin Abdulaziz Al Saud and is supported by the leaders of the Gulf Cooperation Council (GCC) countries, in line with the principles approved by GCC finance ministers during their meeting in Kuwait on April 21, 1980. AGFUND maintains partnerships with more than 450 UN, international, regional, and governmental organizations through which it supports developmental projects. (End) A.K. / A.M.H.