The UAE and Asian Infrastructure Investment Bank (AIIB) has signed a Memorandum of Understanding (MoU) to finalize plans for the emirate to host and chair the sixth Annual AIIB Board of Governors meeting virtually between 26th and 28th October 2021.
Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the event is expected to attract delegates from more than 100 countries. The theme of this year’s meeting is “Investing Today. Transforming Tomorrow.”
The meeting offers an important platform for global leaders involved in sustainable socio-economic development support to engage with AIIB and other members, partner institutions, business leaders, civil society organizations and experts from a range of related fields and industries.
“The UAE was founded on the principles of planning for and investing in the future today. This applies not just to the future generations of the UAE but also countries and people in need of support worldwide. Promoting the social and economic sustainability of developing countries is a duty outlined by the UAE’s leadership, helping those in need will contribute to the continued growth, prosperity and strength of the UAE as well as that of our friends and neighbors across the GCC and MENA regions.”
The UAE joined fellow AIIB founder members Saudi Arabia, Oman, Qatar, Egypt and Jordan, as well as 29 other countries from Asia and Europe, the UK, Germany and Russia, in April 2015.
The three-day forum will discuss various issues like opportunities to advance green infrastructure and energy sources, promote connectivity and co-operation across the global sustainable development community, develop technology-enabled infrastructure, and promote private capital mobilization to support infrastructure development.
“With the 2021 UN Climate Change Conference coming up, promoting green infrastructure and our shared commitment to climate action is one of the main areas of interest and focus of the delegates,” Dr. Al Jaber added.
China-led AIIB began operations in Beijing in 2016 and has grown to 103 approved members globally. It is capitalized at $100 billion and triple-A-rated by the major international credit rating agencies. As of June, it has approved up to $25.9 billion for 130 projects worldwide.