With the participation of 103 member countries of the Bank and strategic partners

Mohammed bin Rashid inaugurates the sixth annual meeting of the Board of Governors of the Asian Bank in Infrastructure

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His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, inaugurated the sixth annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank, which is chaired by the United Arab Emirates. Countries that are members of the Bank and strategic partners.

His Highness Sheikh Mohammed bin Rashid delivered the keynote speech for the meeting, in which he welcomed the members and attendees, while stressing that the meeting represents a platform for communication and strengthening partnership and economic cooperation between countries. In the UAE, everyone celebrates the fiftieth year of our country with us, and we celebrate the partnership and global economic cooperation with you.

In hosting the first meeting of the Board of Governors in the Middle East, representatives of the member states of the Asian Infrastructure Investment Bank are discussing ways to accelerate sustainable development, under the slogan “We invest today, for a bright future.”

His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, Governor of the UAE at the Bank and Chairman of the Board of Governors, delivered a speech in which he welcomed the participants and said: “In conjunction with our preparations to celebrate the golden jubilee of the UAE, and with Expo 2020 Dubai, we look with pride at all the achievements made by the country. We look forward with determination and confidence to consolidate its position at the forefront of developed countries around the world. As one of the founding members of the Asian Infrastructure Investment Bank, the UAE is proud to support the strategic goals of the bank, which is to contribute to the advancement of all Asian countries so that they can occupy prominent ranks among the countries of the world.”

His Excellency added: "Through the vision of the wise leadership, we are working in the UAE to create new opportunities in various areas of sustainable development, and we focus on keeping pace with the transformation of the energy sector, building a knowledge economy and developing the industrial sector, in line with the 50 Principles, which are considered the strategic roadmap for the next stage. From the economic, political and social development process of the UAE, in addition to launching pioneering initiatives such as the strategic initiative to achieve climate neutrality by the world 2050. These initiatives confirm the common vision with the Asian Infrastructure Investment Bank, which has the same commitment to sustainability and economic development, which is evident In the strategic goal announced in 2020 to allocate 50% of its total funding until 2025 to climate-friendly projects. This trend towards adopting climate projects is an example to follow.”

After the opening ceremony, His Excellency Mohammed Saif Al-Suwaidi, Director General of the Abu Dhabi Fund for Development and Deputy Governor of the United Arab Emirates at the Asian Infrastructure Investment Bank, spoke during the Board of Governors round table discussions entitled “Financing Climate Projects”, where he focused in his speech on the importance of cooperation International, partnerships and continuous dialogue to bridge the infrastructure investment gap and encourage green finance.

His Excellency said: “The growing momentum of investment in green infrastructure is a very important issue for the future.

Long-term thinking about investing for the future will also be an essential pillar of sustainable development.

There is no doubt that the discussions of the sixth annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank are very vital if we are to stimulate investments in infrastructure that support global efforts to deal with climate issues.

It is worth noting that this year's meeting program focuses on topics centered around creating an infrastructure for the future based on the principle of sustainability.

Topics also include cross-border infrastructure connectivity, green finance, the role of global multilateral banks in supporting projects based on environmental, social and governance principles, resilient healthcare infrastructure, gender equality, and the infrastructure sector in a post-Covid world.

Parallel to the activities of the bank's annual virtual annual meeting, the UAE is organizing two private seminars in Abu Dhabi that focus in particular on the UAE and the Middle East region.

Participants from the Asian Infrastructure Investment Bank, speakers from the UAE government and industry experts will present their vision and opinions on the region to the meeting participants from all over the world.

The first symposium will be held under the title "How innovative financing can bridge the spending gap on infrastructure in the Middle East", and will be held on the morning of Wednesday, October 27, at the headquarters of the Abu Dhabi Global Market on Al Maryah Island.

As for the second symposium, it will be held under the title “How the UAE Supports Climate Resilient Infrastructures in the Middle East” on Thursday morning, 28 October at the headquarters of the International Renewable Energy Agency (IRENA) in Masdar City.

Both seminars are available for virtual attendance after registration on the Asian Infrastructure Investment Bank's website www.AIIB.org.

One of the issues that the Governing Council meeting, held just a few days before the start of the 26COP Summit in Glasgow, will focus on how to support the efforts of Member States to achieve their goals of mitigating and adapting to climate change, and thus assisting societies facing the most serious threat in this area. Climate-resilient infrastructure that supports clean energy and decarbonization efforts is a priority concern as countries strive to achieve their zero-sum goals.

It is worth noting that the Asian Infrastructure Investment Bank announced in 2020 its strategic goal of allocating 50% of its total financing until 2025 to climate-friendly projects (noting that climate financing accounted for 41% of total financing in 2020).

As one of the bank's founding members, the strategic plans of the UAE are in harmony with the bank's vision and priorities, as the country continues to advance the path of sustainable development through the 50 principles and the strategic initiative to achieve climate neutrality by 2050.

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