UAE participates in the 9th Annual Meeting of the New Development Bank (NDB) Board of Governors for BRICS nations .

United Arab Emirates, represented by its Ministry of Finance, took part in the 9th Annual Meeting of the New Development Bank (NDB) Board of Governors for BRICS nations on August 30th in Cape Town, South Africa. Themed “Investing in a Sustainable Future,” the meeting brought together key stakeholders to explore innovative financial systems and sustainable investment opportunities. Leading the UAE delegation was Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs and the UAE Governor for the NDB. He was joined by Thuraiya Hamid Alhashmi, Director of the International Financial Relations and Organisations Department at the Ministry of Finance, who also serves as a Constituency Director representing the UAE, Egypt, and Bangladesh. The agenda featured insightful presentations and discussions among leaders, decision-makers, and business professionals focused on enhancing investment strategies that promote sustainability. In his opening remarks, Al Hussaini emphasized the vital role of the NDB in advancing sustainable development and infrastructure projects across member countries. He underscored the necessity for the NDB to further develop domestic capital markets, encourage private sector participation, and collaborate with other multilateral development banks. The meeting highlighted the urgent need to accelerate global sustainable investment and implement concrete actions to ensure a thriving future. It reinforced alignment with the Sustainable Development Goals and the 2015 Paris Agreement on climate change, concentrating on financing sustainable development initiatives and sharing best practices among participants. Attendees included NDB Governors, Directors, representatives from member states, financial institutions, private sector leaders, civil society organizations, and non-governmental entities. The sessions fostered discussions on cooperative initiatives aimed at tackling pressing social and environmental challenges while showcasing exemplary practices that promote sustainable growth. Participants expressed their commitment to developing effective collaborative approaches to create a more sustainable and prosperous future. The NDB was established by BRICS nations following an agreement at the sixth BRICS Summit in Fortaleza, Brazil, in 2014, marking a significant step towards fostering economic cooperation among its members.

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