Sunday , June 7 2020

UAE discusses deeper cooperation, connectivity at AIIB meet


A UAE delegation attended the fourth annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank (AIIB). Abu Dhabi Fund for Development (ADFD), the leading national entity for international development aid, was mandated to represent the UAE at the bank’s meetings and events and on its board.
Following last year’s event in Mumbai, India, the 2019 meeting ran from July 12 to 13 in Luxembourg City, Luxembourg. In line with AIIB’s strategic vision to step up collaboration among countries in various aspects of sustainable infrastructure development, the meeting took place outside Asia for the first time, illustrating the economic and social benefits of better connectivity within and between countries and regions.
Dr Sultan bin Ahmad Sultan Al Jaber, Minister of State and the UAE’s Governor on the AIIB Board of Governors, led the UAE delegation. Other members included Mohamed Issa Abushahab, UAE Ambassador to the Kingdom of Belgium, EU and Luxembourg, Mohammed Saif Al Suwaidi, Director General of ADFD and the UAE’s Alternate Governor on the AIIB Board of Governors, as well as several ADFD employees.
The 2019 annual meeting and its sideline events convened AIIB governors and directors to engage with key stakeholders from government and private sector entities, thought leaders, key business and development influencers, as well as civil society representatives and experts. Running under the theme ‘Cooperation and Connectivity’, the gathering featured discussions on the benefits of a stronger Asia-Europe cooperation framework, mobilising finance, sustainable infrastructure, digital connectivity, governance in cybersecurity and blended finance.
Dr Al Jaber said: “Holding the fourth annual meeting of the AIIB Board of Governors in Europe is an important step in enhancing cooperation between member countries, as well as consolidating efforts to improve lives in developing countries.”
He added: “Following in the footsteps of its founding father, the late Sheikh Zayed bin Sultan Al Nahyan, the UAE is driving and institutionalising sustainable development through cooperation to ensure continued prosperity around the world. As a founding member of AIIB, the country supports the Bank’s development goals in Asia, helping establish a framework of coll-
aboration and effective communication between member countries, as well as promoting investments in development through utilising resources available in the region.”
Dr Al Jaber noted that the Bank’s objectives are in perfect alignment with the UAE’s international social, humanitarian and development aid programme. He pointed out that as an important partner in the development process, the UAE has ranked first in the world in terms of the value of development and humanitarian assistance relative to national income for five years in a row.

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