
Multilateral Cooperation Center for Development Finance (MCDF) CEO Zhongjing Wang and staff held bilateral meetings with Saudi Arabia’s Ministry of Finance (MOF), the Saudi Fund for Development (SFD), and Islamic Development Bank (IsDB), on the sidelines of the MCDF Governing Committee meeting and Retreat hosted by Saudi Arabia on 17 and 18 December in Riyadh. A team from the MCDF Secretariat also visited senior colleagues at IsDB headquarters in Jeddah on 19 December.
CEO Wang met with Deputy Finance Minister H.E. Mr. Khalid Bawazier at MOF on 17 December. Deputy Minister Bawazier praised MCDF’s unique support for connectivity project preparation, capacity building, and information sharing. He went on to note the importance of enhancing connectivity to facilitate Saudi Arabia’s hosting of World Expo 2030, the 2034 FIFA World Cup, and other major international events.
CEO Wang thanked Deputy Minister Bawazier for his ministry’s strong support for MCDF. They discussed the Workshop Series on Innovations in Renewable Energy Technology and Connectivity co-organized by Saudi Arabia MOF, MCDF, the Asian Development Bank, and IsDB, to be launched in early 2025 and targeting related ministries and utility companies in developing countries. The series will harness Saudi Arabia’s expertise in renewable energy, as well as IFI standards and good practices, to help foster sustainable, high-quality project financing and development.
CEO Wang also underscored MCDF’s desire to work with Saudi Arabia to support the preparation of more high-quality cross-border connectivity projects through the MCDF Finance Facility.
Subsequently, during the GC meeting, Saudi Arabia and other GC members approved 5 new MCDF Finance Facility project support grants and a change in the implementation of a previously approved grant. Overall, MCDF has now approved 38 grants totaling USD43.29 million to support high-quality connectivity projects in Africa, Asia, and Latin America and the Caribbean. It is projected to mobilize USD7.65 billion in investment.
In the afternoon of 17 December, MCDF CEO Wang met SFD CEO H.E. Mr. Sultan A. Al-Marshad and senior staff at the SFD office. CEO Marshad expressed his desire for SFD to work with MCDF Implementing Partners (IPs) seeking MCDF Finance Facility project support grants.
CEO Wang explained MCDF’s focus on the sustainable transport and logistics, energy, telecommunications, and transboundary water resource management sectors. He welcomed SFD’s robust participation in MCDF activities that align with its regional and sectoral priorities, including in collaboration with MCDF’s growing number of IPs. CEO Wang added that he expects SFD and MCDF could further strengthen their partnership.
On 19 December, an MCDF Secretariat team comprised of Mr. Ayumi Konishi, Senior Advisor to the CEO, Mr. Frederic Wiltmann, Program Team Head, Mr. Strahan Spencer, Platform Team Head, and Ms. Rui Mi, Acting Corporate Secretariat Unit Head visited IsDB Headquarters in Jeddah for technical discussions following IsDB’s signing of an MCDF Finance Facility IP Agreement with MCDF Administrator, the Asian Infrastructure Investment Bank.
In a meeting with Mr. Anasse Aissami, IsDB’s Acting Vice President of Operations they discussed the status of the MCDF Finance Facility portfolio and opportunities to support capacity building programs presented by IsDB to the MCDF Finance Facility in 2025-2026.
Contact
David Hendrickson
Senior Communications Officer
Mobile: +86 185 0114 6758
david.hendrickson@themcdf.org



