UAE Strengthens Global Partnerships at AIIB’s 10th Annual Meeting

Photo: WAM

Dr. Sultan Ahmed Al Jaber, the UAE Minister of Industry and Advanced Technology, recently participated in a key meeting at the Asian Infrastructure Investment Bank's (AIIB) 10th Annual Meeting in Beijing, which took place from June 24th to 26th. The theme for the meeting was "Connecting for Development, Collaborating for Prosperity."

During the meeting, leaders reflected on the progress made in the past year and discussed plans for future projects. The discussions focused on how countries can work together to overcome economic challenges, especially those related to climate change. A big part of the conversation was about creating stronger partnerships, securing financial support, and investing in sustainable infrastructure.

Dr. Al Jaber praised AIIB for its important role in funding major infrastructure projects in member countries. He also mentioned that the UAE's support for AIIB reflects the country's focus on international cooperation and economic growth.

Dr. Al Jaber also met with Zou Jiayi, the new President of AIIB, and reaffirmed the UAE’s commitment to supporting AIIB’s mission to expand globally. He highlighted the Bank's success in helping improve living standards in many countries and emphasized how vital international organizations like AIIB are for development and financing.

Mohamed Saif Al Suwaidi, Director-General of the Abu Dhabi Fund for Development, also participated in the meeting. He spoke about the strong partnership between the Fund and AIIB, which works together to promote sustainable economic growth in developing nations. He also praised AIIB's operational office in Abu Dhabi for being a successful model for expanding the Bank's reach and improving investments in the region.

The UAE has been a founding member of AIIB since 2015 and hosts the first AIIB office outside of China, further showing the UAE's commitment to supporting international development institutions.

In the past 10 years, AIIB has approved over $60 billion for 318 projects. The Bank’s 2024 report highlights its growth, with 51 new projects across 19 countries, totaling $8.4 billion in financing. AIIB has also made impressive strides in climate financing, with 67% of its funds going toward sustainable projects—surpassing its 2025 target. This includes renewable energy projects that are helping reduce CO₂ emissions.

The UAE’s ongoing support for AIIB’s efforts underscores the country’s vision for a sustainable future and its dedication to global cooperation in addressing major challenges.