Saudi Gazette report

RIYADH — Finance Minister Mohammed Al-Jadaan called on the need to prioritize food security and energy access, to secure an affordable and dignified livelihood for the most vulnerable people.

Al-Jadaan made the remarks during his participation in the International Monetary and Financial Committee (IMFC) and World Bank Development Committee meetings, in Washington DC. He also noted the importance of international cooperation to meet and address the urgent challenges facing the global economy.

He stressed the importance of supporting the development of technologies related to carbon extraction, use, recycling and storage.

Al-Jadaan noted the importance of comprehensive energy investments to achieve Goal No. 7 of the Sustainable Development Goals (SDGs), which is related to ensuring universal access to energy.

He also called for the need to target building resilience and capacity in developing countries in the face of natural disasters.

The minister of finance also called on the World Bank to lead initiatives aimed at halving food waste, noting that nearly a third of the food produced is wasted along the food supply chain.

The role of the World Bank Group in supporting countries through financial and technical assistance is very important, Al-Jadaan confirmed.

The concerns related to the COVID-19 pandemic and its variants, geopolitical tensions have greatly affected supply chains disruption, food and security energy, he said.

He pointed to the importance of protecting supply chains from any future interruptions, while supporting the position of the Indonesian presidency on the importance of the G20 response to the challenges of energy and food security and protecting the most vulnerable groups.

During the meeting, Al-Jadaan also discussed several topics and issues, including reducing extreme poverty, in addition to promoting shared prosperity by 2030.