The UAE recently attended the annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB) in Samarkand, Uzbekistan.
The UAE was represented by Mohamed Saif Al Suwaidi, Director-General of the Abu Dhabi Development Fund for Development (ADFD) and the nation’s Alternate Governor at AIIB.
The meeting focused on the achievements of the previous year while outlining strategic initiatives for future collaboration. Key discussions emphasized the urgent need to address climate change through enhanced cooperation, mobilization of accessible financing, and increased investments in sustainable infrastructure, particularly in renewable energy, water, and transport sectors.
Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Governor of AIIB, highlighted the bank's significant role in sustainable development. He stated,
“Our goal is to maximize our impact on global development and create an environment that drives investment into infrastructure supporting sustainable and inclusive growth.”
Dr. Al Jaber stressed the importance of accelerating private capital mobilization and leading transactions to strengthen AIIB's market position. He noted,
“AIIB’s commitment to developing cutting-edge, green, and resilient infrastructure is critical for future progress.”
Al Suwaidi echoed this sentiment, urging prioritization of climate-resilient infrastructure and collaboration among multilateral institutions, national agencies, and the private sector to foster economic growth and environmental resilience.
As a founding member of AIIB since 2015, the UAE has contributed approximately US$1.185 billion to the bank, which now includes 106 members and has funded 232 projects totaling US$44.41 billion. With global economic growth projected at just 3.3% in 2025, the urgency for robust infrastructure investments has never been greater.
News Source: Emirates News Agency
