Arab Coordination Group Strengthens Global Development Partnerships at Vienna Summit
The Arab Coordination Group (ACG), one of the world’s largest alliances of development finance institutions, has reaffirmed its commitment to expanding investments that improve lives, create economic opportunities and strengthen international partnerships following its 21st Meeting of Heads of Institutions in Vienna, Austria.
Hosted at the headquarters of the OPEC Fund for International Development as part of its 50th anniversary celebrations, the meeting brought together leaders of ACG member institutions to chart a common path for addressing the growing development needs of countries across Africa, Asia, Latin America and other developing regions.
Shifting the focus from corporate or executive elites to everyday people, the gathering highlighted a shared vision of ensuring that development financing translates into tangible benefits for ordinary people through better roads, schools, hospitals, clean water, energy access, food security, climate resilience and job creation. The leaders stressed that coordinated investments remain essential to helping governments strengthen local economies, reduce poverty and build more resilient communities.
The meeting also highlighted the growing importance of international cooperation at a time when many developing nations are grappling with climate challenges, rising debt pressures, infrastructure deficits and widening social inequalities. By strengthening collaboration among its members, the ACG aims to deliver faster, more coordinated and impactful financing that supports inclusive growth and sustainable development.
According to the Group, ACG member institutions collectively committed US$25.7 billion in development financing in 2025, supporting nearly 735 projects across more than 97 countries. These investments span critical sectors including transport, agriculture, healthcare, education, renewable energy, water and sanitation, providing governments with resources to improve public services while stimulating private sector growth and employment.
Over the past five decades, the Group has mobilised more than US$331.5 billion for over 13,000 development projects in more than 160 countries. The long-term investments have contributed to expanding infrastructure, improving social services, supporting economic diversification and strengthening the resilience of vulnerable communities.
Participants reviewed progress made over the past year and reaffirmed their commitment to deepening cooperation among member institutions. Discussions focused on enhancing the effectiveness of joint financing initiatives, sharing expertise and ensuring that development resources reach communities where they are needed most, particularly at the grassroots level.
On the sidelines of the meeting, ACG leaders held high-level roundtable discussions with representatives of the Government of Barbados, the Climate Vulnerable Forum and V20 Finance Ministers, the African Development Bank, the Inter-American Development Bank and CAF – Development Bank of Latin America and the Caribbean. The engagements reflected a growing recognition that tackling global development challenges requires stronger political dialogue, cross-regional partnerships and coordinated financial action.
In their closing remarks, the Heads of Institutions reaffirmed that the Arab Coordination Group’s enduring success has been built on solidarity, mutual trust and a shared commitment to improving the quality of life for millions of people. They pledged to further strengthen partnerships that support sustainable economic growth, empower communities, expand opportunities for future generations and advance inclusive development across the developing world.
About the Arab Coordination Group (ACG): The Arab Coordination Group (ACG) is a strategic alliance that provides a coordinated response to development finance. Since its establishment in 1975, ACG has been instrumental in developing economies and communities for a better future, providing more than 13,000 development loans to over 160 countries around the globe. Comprising ten development funds, ACG is the second-largest group of development finance institutions in the world and works across the globe to support developing nations and create a lasting, positive impact.
The Group comprises the Abu Dhabi Fund for Development, the Arab Bank for Economic Development in Africa, the Arab Fund for Economic and Social Development, the Arab Gulf Programme for Development, the Arab Monetary Fund, the Islamic Development Bank, the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Development, the Qatar Fund for Development and the Saudi Fund for Development.
