The UAE is participating in the meeting of a conservative council "Asian Infrastructure Investment Bank"

BEIJING, on June 27 / WAM / His Excellency Dr. Sultan Ahmed Al -Jaber, Minister of Industry and Advanced Technology, Governor of the UAE at the Asian Bank for Infrastructure Investment, participated in the tenth annual meeting of the Bank’s Governors Council, which was hosted by the Chinese capital “Beijing” during the period from 24 to 26 June under the slogan “Construction for Development and cooperation for prosperity”.

During the meeting, the most prominent achievements achieved during the past year were reviewed, future projects and initiatives discussed, emphasizing the importance of coordinating international efforts to meet global economic challenges, especially related to climate change, by expanding the scope of strategic partnerships, mobilizing facilitated financial resources to support vital sectors, and enhancing investment in sustainable infrastructure projects.

His Excellency Dr. Sultan Ahmed Al -Jaber praised, during his participation in the entrepreneurial achievements achieved by the “Asian Bank for Investment in Infrastructure”, and the vital role he plays in financing quality projects that contribute to developing infrastructure at the level of member states, stressing that the UAE’s support for this strategic partnership comes in implementation of the directives of the rational leadership that puts multilateral cooperation, extending the bridges of cooperation and achieving economic development goals within its main priorities.

During his meeting with Tsu Jia Yi, the new president of the Asian Bank for Investment in Infrastructure, the UAE’s keenness to support the bank’s efforts to expand its global impact, indicating that since its establishment has succeeded in improving and developing living conditions in many beneficiary countries by supporting development efforts and highlighting the importance of the role and efforts of multilateral institutions in the development and financing fields.

For his part, His Excellency Mohammed Saif Al -Suwaidi, Director General of the Abu Dhabi Development Fund, and the deputy governor of the UAE at the Asian Bank for Infrastructure Investment, stressed the importance of the strategic partnership that exists between the Fund and the bank, which is based on common development goals that actively contribute to supporting sustainable economic and social growth in developing countries.

He pointed out that the operating office of the bank in the “Abu Dhabi Global Market” formed a successful model in enhancing the bank’s capabilities and expanding its operations; During his first year, he contributed to the alignment of investments with the bank’s priorities and strategies, which strengthened the effectiveness of communication with customers, partners and parties concerned in the region.

It is noteworthy that the UAE joined as a founding member of the Asian Investment Bank in April 2015, and it also hosts the first operating office of the bank outside China, which is evidence of the level of cooperation, coordination and effective membership of the state in this bank and its pioneering role in activating, supporting and strengthening international multilateral institutions.

During the past decade, the bank succeeded in adopting funds exceeding $ 60 billion to implement 318 projects, and its annual report for 2024 indicated that it witnessed exceptional growth in its operational operations; He agreed to fund 51 projects with a total value of 8.4 billion dollars, from which 19 countries benefited from.

The bank also recorded great progress in climate financing; 67% of his total financing of $ 5.6 billion allocated to projects with a sustainable impact, by exceeding the target of 50% by 2025, and among these achievements is the financing of renewable energy projects that exceed 21 GW, which contributed to avoiding the emission of approximately 28 million tons of carbon dioxide annually.

This success, which was achieved during a decade, stresses the advisory vision of the UAE and its keenness to support multiple -party institutions concerned with sustainable development, and also embodies the state’s firm commitment to enhancing international cooperation to confront joint global challenges.

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