The UAE hosts the meeting of the Public and Private Partnership Group for"Brex"

Abu Dhabi, May 7 / WAM / The United Arab Emirates, represented by the Ministry of Finance, hosted the first effectiveness of the BRICS group held in the country, through the meeting of the Public and Private Partnership Working Group, within the financial track of the BRICS Group.

The meeting, which was held in Abu Dhabi on May 5 and 6, was attended by a group of senior government officials, international experts, representatives of international financial institutions and the private sector.
On the sidelines of the meeting, the Ministry of Finance organized an expanded symposium entitled “A new era of growth: the re -imagination of infrastructure in the BRICS”, which focused on ways to develop mechanisms for financing infrastructure projects, and expanding the scope of public and private sectors.
The guest delegation visited the city of Masdar, where the participants were briefed on the most prominent partnership projects between the public and private sectors in the UAE, in the fields of energy, sustainability and transportation, as a practical model that reflects the state’s keenness to implement innovative and effective solutions in financing and implementing infrastructure projects.
The event was attended by His Excellency Younis Haji Al -Khoury, Undersecretary of the Ministry of Finance, His Excellency Antonio Fretas, Undersecretary of the Ministry of Finance in Brazil for International Affairs, His Excellency Ambassador Tatiana Rossito, Undersecretary of International Affairs at the Brazilian Ministry of Finance, and His Excellency Sydney Lyon Romero, Ambassador of the Federal Republic of Brazil to the UAE.
His Excellency Younis Haji Al -Khoury stressed that the UAE hosting this high -level meeting and the accompanying symposium reflects its growing role as a firm partner in formulating the future of global economic cooperation, especially with regard to reshaping the infrastructure financing system in partnership with the private sector, and in line with the priorities of sustainable development and the needs of the changing global economy.
He said that strengthening the public and private partnerships represents one of the main axes in the UAE’s vision to enhance sustainable growth, by adopting flexible and innovative financing models that enables vital projects in the fields of education, health care, clean energy, and transportation, as part of its constant commitment to achieving the balance between the investment return and the social and environmental return.
He expressed his aspiration to build a permanent platform for exchanging experiences between the BRICS countries and partner countries, and to enhance the role of the private sector in leading the economic transformation, especially in light of the increasing global challenges that require wider international coordination, and more comprehensive and innovative financing strategies.
In turn, His Excellency Ambassador Tatiana Rossito, in the name of the Brazilian presidency of the BRICS Group, thanked all the parties participating in this meeting, and for the very appreciation of the pivotal support and constructive partnership presented by the UAE government, stressing its confidence that this forum will contribute to enhancing cooperation, and pushing towards achieving common goals in financing more quality and influential infrastructure projects in the participating countries.

She said that the work team on the public and private sectors and infrastructure partnerships is a symbolic importance that reflects the trend towards strengthening the bonds of cooperation between the BRICS Group countries, strengthening bilateral and multilateral relations, and exploring new areas of cooperation between the countries concerned, as well as exchanging knowledge and experiences.
For his part, Ahmed Baghaoum, CEO of Masdar City, said that the visit of the BRICS Group’s delegation to the city represents an international recognition of its pioneering role in developing innovative and sustainable projects within the Public and Private Partnership Model, pointing to the presentation of a number of leading projects, such as the regional headquarters of Siemens Energy, the headquarters of the International Renewable Energy Agency (IRENA), and the University of Mohammed bin Zayed for intelligence Artificial, in addition to the free zone that embraces more than 1500 companies operating in the areas of clean technology, artificial intelligence and renewable energy, which represents a practical model that reflects the UAE’s commitment to adopting advanced solutions in financing and implementing infrastructure projects.

The symposium witnessed a series of dialogue sessions that discussed the most prominent challenges and opportunities in the infrastructure financing sector, by reviewing the experiences of the BRICS countries and best global practices. The sessions dealt with multiple axes that included innovative financing mechanisms for social projects such as housing, health and education, mixed financing forms that allow mobilization of private capital to counter climate change, as well as specialized sessions on project structuring and processing investment risks, and the role of insurance companies in alleviating challenges.
The second day was also devoted to in -depth discussions on governments and the financial sector about organizational policies and implementation mechanisms, in addition to anticipating the future of partnerships between the public and private sectors in light of economic and technological changes.

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