Yesterday, Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan participated in the virtual session “Preparing for the Future”, as part of the activities of the World Economic Forum “Davos Agenda”. In his opening speech, Al-Jadaan stressed that the past two years have provided many lessons for building economic resilience and improving preparedness for the future, and among these lessons is the need to take deliberate and decisive data-based actions to reduce risks while balancing public health and social and economic needs.

He added, “The Group of Twenty agreed to establish a joint task force from the ministries of health and finance, to ensure the world is better prepared for the future, and it is important that we support these efforts,” noting that the Covid-19 pandemic provided us with a clear lesson that no one country can fight the epidemic alone. Any pandemic requires greater international cooperation.

His Excellency clarified that the transformation in the field of energy and sustainable development are two main factors to be able to build a resilient global economy, but the danger that is often ignored is the need to ensure energy security, so that the matter is not negatively affected by the transformation.

Al-Jadaan stressed that the G20 is working with the World Bank, the International Monetary Fund and other multilateral institutions to find a way to better prepare for potential crises in the future by continuing structural reforms and managing risks, noting that in the past, it took years to produce vaccines, and today, with collective cooperation, Whether from the private sector or the government, we were able to deal well with the crisis, we were able to provide support to low-income countries, and we were able to provide relief efforts in agreement with the Group of Twenty and the Paris Club, and the International Monetary Fund agreed to distribute the equivalent of $650 billion in drawing rights. special liquidity support.

Al-Jadaan indicated that Saudi Arabia supports sustainability while ensuring energy security and the inevitability of moving to a green and sustainable global economy, based on a flexible and thoughtful approach, to ensure energy security and economic stability in the long term.

It is worth noting that the Davos Agenda will be held from January 17-21, which the participants were supposed to meet in Davos, where it will host a series of virtual sessions that are in line with the annual meeting’s goal of guiding world leaders on the necessities of the coming year.