emirates7 - The UAE, represented by the Ministry of Finance, took part in the 9th Annual Meeting of the New Development Bank (NDB) Board of Governors for BRICS countries, held on August 30th in Cape Town, South Africa. The event, themed "Investing in a Sustainable Future," focused on promoting sustainable development.
The UAE delegation was led by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs and the UAE Governor for the NDB, along with Thuraiya Hamid Alhashmi, Director of the International Financial Relations and Organisations Department at the UAE Ministry of Finance. Alhashmi is also a member of the NDB's board of directors and a Constituency Director representing the UAE, Egypt, and Bangladesh.
The meeting's agenda included discussions on innovative financial systems for sustainable development and opportunities for sustainable investment. The sessions featured leaders, decision-makers, and business professionals who explored strategies to enhance investments geared towards a sustainable future.
In his opening remarks, Mohamed bin Hadi Al Hussaini emphasized the NDB's vital role in promoting sustainable development and infrastructure projects among member countries. He also highlighted the importance of the NDB's continued efforts in developing domestic capital markets, encouraging private sector participation, and collaborating with other multilateral development banks (MDBs).
The meeting stressed the need to accelerate global sustainable investment and take action to ensure a sustainable future. It also focused on aligning efforts with the Sustainable Development Goals (SDGs) and the 2015 Paris Agreement on climate change, particularly in financing sustainable development projects and sharing best practices.
Participants included NDB Governors, Directors, representatives from member countries, financial institutions, private sector leaders, civil society, and non-governmental organizations. The discussions centered on cooperative initiatives to address critical social and environmental challenges and showcased best practices for promoting sustainable growth. Attendees expressed their commitment to developing effective collaboration to build a more sustainable and prosperous future.
The NDB was established by BRICS countries following an agreement at the sixth BRICS Summit in Fortaleza, Brazil, in 2014. Headquartered in Shanghai, China, with regional offices in South Africa and India, the NDB mobilizes resources through loans, securities, and equity investments to finance infrastructure and sustainable development projects in BRICS countries, other emerging economies, and developing nations. It complements the efforts of other multilateral financial institutions in global development and supports collective commitments towards strong, sustainable, and balanced growth. Since its inception, the NDB has approved over 90 projects worth approximately US$33 billion, covering sectors such as transport, water and sanitation, digital and social infrastructure, and clean energy.
The UAE delegation was led by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs and the UAE Governor for the NDB, along with Thuraiya Hamid Alhashmi, Director of the International Financial Relations and Organisations Department at the UAE Ministry of Finance. Alhashmi is also a member of the NDB's board of directors and a Constituency Director representing the UAE, Egypt, and Bangladesh.
The meeting's agenda included discussions on innovative financial systems for sustainable development and opportunities for sustainable investment. The sessions featured leaders, decision-makers, and business professionals who explored strategies to enhance investments geared towards a sustainable future.
In his opening remarks, Mohamed bin Hadi Al Hussaini emphasized the NDB's vital role in promoting sustainable development and infrastructure projects among member countries. He also highlighted the importance of the NDB's continued efforts in developing domestic capital markets, encouraging private sector participation, and collaborating with other multilateral development banks (MDBs).
The meeting stressed the need to accelerate global sustainable investment and take action to ensure a sustainable future. It also focused on aligning efforts with the Sustainable Development Goals (SDGs) and the 2015 Paris Agreement on climate change, particularly in financing sustainable development projects and sharing best practices.
Participants included NDB Governors, Directors, representatives from member countries, financial institutions, private sector leaders, civil society, and non-governmental organizations. The discussions centered on cooperative initiatives to address critical social and environmental challenges and showcased best practices for promoting sustainable growth. Attendees expressed their commitment to developing effective collaboration to build a more sustainable and prosperous future.
The NDB was established by BRICS countries following an agreement at the sixth BRICS Summit in Fortaleza, Brazil, in 2014. Headquartered in Shanghai, China, with regional offices in South Africa and India, the NDB mobilizes resources through loans, securities, and equity investments to finance infrastructure and sustainable development projects in BRICS countries, other emerging economies, and developing nations. It complements the efforts of other multilateral financial institutions in global development and supports collective commitments towards strong, sustainable, and balanced growth. Since its inception, the NDB has approved over 90 projects worth approximately US$33 billion, covering sectors such as transport, water and sanitation, digital and social infrastructure, and clean energy.