He emphasized that philanthropy should be seen as a strategic tool, not merely the act of wealthy donors giving money, and that it can act as a catalyst to de-risk and crowd in private investment, particularly in sectors such as technology and social entrepreneurship.

Jafar, CEO of Crescent Enterprises and chairman of Gulftainer, noted that philanthropic capital is often underestimated globally, with private philanthropy in the U.S. surpassing $600 billion in recent years and global philanthropy reaching around $2 trillion annually.

He argued that aligning capital across philanthropy, business, and government creates a multiplier effect that can accelerate development and humanitarian outcomes.

According to Jafar, strategic philanthropy helps address pressing challenges including regional conflicts, political extremism, refugee crises, and environmental issues, complementing government aid and development programs.

He also discussed his book, “The Business of Philanthropy: Perspectives and Insights from Global Thought Leaders on How to Change the World,” which features interviews with 50 leading philanthropists including Bill Gates, Kristalina Georgieva, and Razan Al-Mubarak.

The book’s provocative title aims to challenge the business world to learn from philanthropy while encouraging philanthropists to adopt strategic approaches informed by business principles.

Jafar stressed that the combination of public and private capital, when effectively coordinated, can unlock unprecedented opportunities for investment and social impact.

Growing up in Sharjah, Jafar credited his family with instilling a strong sense of giving and responsibility to the community, and he donates all royalties from his book to the International Rescue Committee to support children affected by armed conflict.

He highlighted that modern philanthropy goes beyond charity, acting as a significant part of the global capital system, often regarded as peripheral or viewed with suspicion, but with the potential to address some of the world’s most urgent humanitarian and development challenges.

The discussion reflected continued engagement aimed at strengthening development-oriented partnerships.

Both sides explored opportunities to expand cooperation across priority development sectors.

These sectors are considered important for supporting long-term economic growth and social progress.

The meeting highlighted the role of development financing in infrastructure and public services.

Such financing is often linked to improving living standards and economic resilience.

Officials emphasized the value of constructive dialogue between development institutions and national authorities.

Regular exchanges help align development goals and identify areas of mutual interest.

The Saudi Fund for Development has been involved in supporting projects across various regions.

Its work focuses on contributing to sustainable development outcomes.

Cote d’Ivoire continues to prioritize economic planning and strategic development initiatives.

Collaboration with international partners supports these national objectives.

During the discussions, attention was given to strengthening bilateral development ties.

Both sides acknowledged the importance of coordinated planning and effective implementation.

Development cooperation often includes technical assistance and capacity building.

These elements help ensure long-term benefits from funded projects.

The presence of diplomatic representatives underscored the importance of the meeting.

Such participation reflects strong institutional support for cooperation initiatives.

Economic development strategies increasingly emphasize sustainability and inclusiveness.

Partnerships aim to address infrastructure needs while supporting social development.

Officials discussed ways to enhance collaboration in sectors critical to economic stability.

These may include transportation, energy, and community development initiatives.

The meeting also reflected broader engagement between Saudi Arabia and African nations.

Such engagement focuses on shared development priorities and long-term partnerships.

Development funds play a role in supporting national planning efforts.

They help mobilize resources for projects aligned with strategic goals.

Constructive dialogue allows for the exchange of experiences and best practices.

This contributes to more effective project design and execution.

International development cooperation remains an important driver of growth.

Collaborative efforts can help address infrastructure gaps and economic challenges.

Both sides expressed interest in continued engagement and future discussions.

Ongoing communication supports sustained cooperation.

Development partnerships are often built on shared objectives and mutual benefit.

They seek to create lasting positive impact.

The meeting in Abidjan reflects ongoing commitment to development cooperation.

Such engagements contribute to broader economic and social progress.

Overall, the talks highlighted the importance of collaboration in development financing.

They reinforced a shared focus on sustainable and inclusive growth.