The heads of funds and financial institutions of the Coordination Group held their 11th meeting at the IDB Headquarters in Jeddah, KSA, on Wednesday 17 Rabie-I, 1429 (23 April, 2008). The heads of funds and financial institutions of the Coordination Group held their 11th meeting at the IDB Headquarters in Jeddah, KSA, on Wednesday 17 Rabie-I, 1429 (23 April, 2008). The meeting reviewed the level of coordination and integration among the Group members with regard to project and program financing, as well as policies, procedures and exchange of expertise and information. It also re-affirmed the Group’s determination to pursue more cooperation and coordination, including support for the private sector and trade transactions. The meeting expressed the members’ satisfaction with the continuous increase in the development assistance provided by the Group which has so far exceeded US$ 80 billion for financing economic and social development projects and plans for the benefit of 135 developing countries in various parts of the world. The meeting also discussed the challenges posed by the present food crisis in the world and the steep rise in stable food prices, and the role that the Coordination Group can play to address this deepening crisis. In this regard, the meeting emphasized the necessity for increasing the Group’s support to Arab countries for developing water and agriculture sectors through more and intensified cooperation among the Group’s institutions on one hand, and between these institutions and other international and regional development organizations on the other. This endeavor will have to be part of a strategy to be agreed upon with the countries concerned. The heads of the members of the Group devoted particular attention to the IDB’s special program for the development of Africa prepared by the Bank in consultation with the countries concerned, pursuant to the directives of the 3rd Extraordinary Islamic Summit Conference held in Makkah in 2005 and affirmed by the Islamic Summit held in Dakar last March. The heads of the participating funds and institutions expressed their satisfaction with the contributions made by the Group members severally and collectively in the area of development aid to Palestine. They commended the proposals regarding the improved modes of financing based on past experience, as well as the exemplary response to the needs of the Palestinian people. It is to be noted that the Coordination Group was established in 1975 with the objective of enhancing and coordinating the development efforts of the member funds and institutions in the area of project evaluation, financing and monitoring, and management of loans. It also seeks to achieve uniformity and consistency in their development policies and financing procedures. The Group is comprised of Abu Dhabi Fund for Development, OPEC Fund for International Development (Vienna) the Saudi Fund for Development (Riyadh), the Arab Fund for Economic and Social Development (Kuwait), the Kuwait Fund for Arab Economic Development (Kuwait), the Arab Bank for Economic Development in Africa (Khartoum), the Arab Gulf Programme for United Nations Development Organizations (Riyadh), the Arab Monetary Fund (Abu Dhabi) and the Islamic Development Bank (Jeddah).