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Dubai: Sheikh Maktoum, World Bank Group President discuss socio-economic developments

The First Deputy Ruler of Dubai highlights country’s efforts to make significant contributions to mitigating climate change at both global and regional levels

Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance of the UAE, met with Ajay Banga, President of the World Bank Group (WBG), to discuss recent socio-economic developments in the UAE and ways to strengthen ties between the UAE and the WBG.

The meeting explored opportunities to further advance the partnership between the UAE and the WBG. Sheikh Maktoum highlighted the importance of enhancing collaboration to achieve the global agenda for overcoming challenges. He noted the WBG’s role in supporting the 2023 United Nations Climate Change Conference (COP28) in areas related to food, water and climate financing.

During the meeting, Sheikh Maktoum highlighted the UAE’s commitment to creating a hub for excellence and innovation in sustainable technologies and the country’s efforts to make significant contributions to mitigating climate change at both global and regional levels.

Sheikh Maktoum congratulated Banga on the successful Annual Meetings of the World Bank recently held in Marrakech, which saw the announcement of the new vision and mission of the organisation that underscore its commitment to finding innovative solutions for global challenges including the crises of climate change and food insecurity.

Sheikh Maktoum was briefed on the new WBG playbook, which emphasises the pivotal role of the knowledge bank and the imperative of capacity building across various sectors. These sectors include People, which touches on aspects like education, healthcare, and social benefits; Prosperity, focusing on areas such as jobs, financial inclusion, local currency markets, credit availability, and economic and trade policies; Planet, which centres on preserving drinking water and biodiversity; Infrastructure, a foundational element for progress; and Digital, which highlight the importance of governance, transparency, and digital access.

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The meeting was also attended by Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs; Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs; Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications; and Younis Haji Al Khoori, Undersecretary of the Ministry of Finance.

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