Saudi Finance Minister Joins G20 Meeting to Enhance Role of Multilateral Development Banks

KSA, 20 April, 2024 :  Saudi Arabia's Minister of Finance, Mohammed Aljadaan, participated in the second session of the G20 Finance Ministers and Central Bank Governors meeting under the Brazilian presidency. The meeting took place during the 2024 Spring Meetings of the International Monetary Fund (IMF) and World Bank Group (WBG) in Washington, D.C., on April 18, 2024.

During the session, Minister Aljadaan expressed Saudi Arabia's support for the Brazilian Presidency's efforts to enhance the role of Multilateral Development Banks (MDBs) in development finance. He emphasized the importance of individual MDB boards determining the strategy and pace of scaling up their lending operations, considering their unique mandates and capabilities. Aljadaan highlighted the G20's role in providing political support for MDBs to improve coordination and maximize development impact.

On the sidelines of the Spring Meetings, Minister Aljadaan held discussions with several ministers, central bank governors, and officials from international commercial banks to explore ways to strengthen economic cooperation and bilateral relations.

Source : www.mof.gov.sa