Saudi Finance Minister Leads Fiscal and Climate Talks at World Governments Summit

RIYADH — Saudi Arabia’s Minister of Finance, Mohammed Al-Jadaan, participated in the World Governments Summit and the Ninth Arab Fiscal Forum, held from February 10 to 13, 2025, in Dubai, United Arab Emirates. The forum, organized under the patronage of the UAE government, brought together finance ministers, policy makers, and economic experts from across the Arab world and beyond to discuss pressing fiscal challenges and opportunities for regional cooperation.

Context and Background

The World Governments Summit is an annual global platform that convenes leaders from government, international organizations, and the private sector to shape the future of governance. The Ninth Arab Fiscal Forum, held concurrently, focuses on fiscal policy reforms, debt management, and economic resilience in the Arab region. Saudi Arabia’s active participation underscores its commitment to regional economic stability and collaborative policy development, aligned with the Kingdom’s broader Vision 2030 objectives of diversifying the economy and enhancing its global role.

Key Details

During the forum, Minister Al-Jadaan chaired the third session titled “Fiscal Policy and Climate Resilience,” which examined the economic costs of climate change in the region, associated financial risks, and pressures such as debt sustainability challenges, particularly for heavily indebted countries. Speakers presented a range of solutions to enhance climate adaptation capabilities, including innovative financing mechanisms and public-private partnerships. Al-Jadaan also participated in a high-level roundtable discussion under the theme “Reimagining the Future of Multilateral Cooperation and the Future Fund,” emphasizing the need for strengthened international collaboration to address global economic uncertainties.

On the sidelines, the Minister signed a Memorandum of Understanding (MoU) on financial cooperation with the United Arab Emirates’ Minister of State for Financial Affairs, Mohamed bin Hadi Al Hussaini. The MoU aims to enhance bilateral financial coordination, share expertise, and promote joint initiatives in fiscal policy and economic development, further solidifying the strategic partnership between the two nations.

Implications and Impact

Saudi Arabia’s engagement at the summit and forum highlights its leadership in addressing critical issues such as climate change, debt sustainability, and multilateral cooperation. By chairing a session on fiscal policy and climate resilience, the Kingdom is positioning itself as a key advocate for integrating environmental considerations into economic planning. The MoU with the UAE strengthens bilateral financial ties, facilitating knowledge exchange and joint projects that could serve as a model for regional integration. These efforts reinforce the Kingdom’s role as a stabilizing force in the Middle East and a proponent of proactive, forward-looking economic governance.

Vision 2030 Alignment

Minister Al-Jadaan’s participation directly supports Vision 2030 by demonstrating Saudi Arabia’s commitment to international partnerships, economic diversification, and sustainable development. The focus on fiscal resilience and climate adaptation aligns with the Kingdom’s goals of building a dynamic, diversified economy that is less dependent on oil revenues. By engaging in multilateral forums and signing cooperation agreements, Saudi Arabia is advancing its vision of becoming a global investment powerhouse and a hub connecting three continents. These efforts contribute to the long-term prosperity and stability of the Kingdom and the broader region.

20 Questions

Q1. What was the main purpose of the World Governments Summit and the Ninth Arab Fiscal Forum?

A1. The summit and forum aimed to bring together global leaders and experts to discuss governance innovation, fiscal policy reforms, debt management, and economic resilience in the Arab region. They served as platforms for sharing best practices and fostering international cooperation on critical economic issues.

Q2. Who represented Saudi Arabia at these events?

A2. Saudi Arabia was represented by Minister of Finance Mohammed Al-Jadaan, who participated in multiple sessions and signed a bilateral agreement. His presence underscored the Kingdom’s active role in regional fiscal dialogues.

Q3. What session did Minister Al-Jadaan chair at the Arab Fiscal Forum?

A3. He chaired the third session titled “Fiscal Policy and Climate Resilience,” which focused on the economic costs of climate change and solutions for enhancing climate adaptation. The session included ministers and experts from various countries.

Q4. Why is the session topic “Fiscal Policy and Climate Resilience” important?

A4. Climate change poses significant financial risks, including increased debt burdens for vulnerable countries. The session explored ways to integrate climate resilience into fiscal planning, helping nations manage economic shocks and transition to sustainable growth.

Q5. What was discussed during the high-level roundtable session?

A5. The roundtable, themed “Reimagining the Future of Multilateral Cooperation and the Future Fund,” focused on strengthening collaborative frameworks among nations to tackle global economic challenges. Participants explored innovative approaches to multilateralism and investment.

Q6. What agreement did Saudi Arabia sign with the UAE during the summit?

A6. An Memorandum of Understanding on financial cooperation was signed between the two countries, aimed at enhancing bilateral coordination, sharing expertise, and promoting joint initiatives in fiscal policy and economic development.

Q7. Who signed the MoU on behalf of the UAE?

A7. The MoU was signed by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs of the United Arab Emirates. This agreement reflects the strong economic ties between the two nations.

Q8. How does this MoU benefit Saudi Arabia and the UAE?

A8. The MoU facilitates knowledge exchange, joint projects, and closer financial coordination, which can lead to more efficient policy implementation and stronger bilateral trade. It also reinforces their strategic partnership in the region.

Q9. What broader message does Saudi Arabia’s participation send?

A9. Saudi Arabia’s active engagement signals its commitment to regional cooperation, economic reform, and global leadership under Vision 2030. It positions the Kingdom as a reliable partner in addressing shared fiscal and environmental challenges.

Q10. How does the forum address debt sustainability challenges?

A10. The forum highlighted solutions such as innovative financing, restructuring mechanisms, and fiscal discipline. It emphasized the need for collective action to help heavily indebted countries manage their debt burdens while maintaining economic stability.

Q11. What is Vision 2030 and how does this event relate to it?

A11. Vision 2030 is Saudi Arabia’s strategic roadmap for economic diversification, social reform, and global integration. This event aligns by promoting fiscal resilience, international partnerships, and sustainable development—key pillars of the vision.

Q12. Why is climate resilience a focus for Arab countries?

A12. Arab nations are highly vulnerable to climate impacts like water scarcity and extreme heat. Building climate resilience is critical to protecting economies, infrastructure, and livelihoods, and requires coordinated fiscal policies.

Q13. What role do public-private partnerships play in climate adaptation?

A13. Public-private partnerships can mobilize investment, foster innovation, and share risks in climate projects. They are seen as essential tools for financing adaptation measures and building resilient infrastructure efficiently.

Q14. How does Saudi Arabia contribute to multilateral cooperation?

A14. Saudi Arabia actively participates in forums like the World Governments Summit, chairs sessions, and signs agreements to promote dialogue and action on global issues. This demonstrates its willingness to collaborate with international partners.

Q15. What are the main financial risks from climate change discussed?

A15. Risks include increased fiscal burdens from disaster relief, reduced productivity in climate-sensitive sectors, and higher debt costs for vulnerable countries. Addressing these requires integrating climate factors into fiscal planning.

Q16. Did Minister Al-Jadaan meet with other officials during the summit?

A16. Yes, he participated in various sessions and bilateral meetings, including the MoU signing with the UAE. Such interactions strengthen diplomatic and economic ties with other nations.

Q17. What is the significance of the forum being held in Dubai?

A17. Dubai is a global hub for commerce and innovation, providing a neutral and accessible venue for international dialogue. The location facilitates high-level participation and visibility for regional economic issues.

Q18. How can fiscal policy support climate adaptation?

A18. Fiscal policy can allocate resources for climate-resilient infrastructure, provide incentives for green investments, and create safety nets for affected populations. Strategic budgeting helps countries adapt while maintaining economic growth.

Q19. What future outcomes are expected from this summit?

A19. Outcomes include actionable recommendations on fiscal resilience, strengthened bilateral cooperation, and enhanced momentum for multilateral reforms. Participants will carry forward insights to their respective governments for implementation.

Q20. How does the public view Saudi Arabia’s global engagement?

A20. Saudi Arabia’s proactive diplomacy and participation in international forums are generally seen positively, reflecting its commitment to global stability, economic reform, and partnership. This enhances the Kingdom’s reputation as a responsible global actor.

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