UAE participates in 7th annual meeting of Board of Governors of New Development Bank

Published date20 May 2022
Publication titleLETA

Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, yesterday participated in the 7th annual meeting of the Board of Governors of the New Development Bank (NDB) of the BRICS countries, which was held virtually under the theme "NDB: Optimising Development Impact".

The meeting sought to discuss NDB's achievements throughout its first strategy cycles 2017-2021, as well as boost the development impact and consolidate the bank's leading position in supporting infrastructure and sustainable development goals around the world, especially in emerging markets and developing economies.

The Board of Governors also approved NDB's General Strategy for 2022-2026, which will focus on enhancing the bank's activities towards SDGs and investing in new emerging markets.

During his intervention, Al Hussaini thanked Marcos Troyjo, President of the New Development Bank, stressing on the importance of the meeting and its impact on strengthening cooperation among member states to continue supporting and funding infrastructure and sustainable development projects in BRICS, as well as other emerging economies and developing countries.

"We are pleased to be here in our first meeting as a member, and we look forward to taking part in the upcoming discussions. The UAE is the newest member of the NDB and through our membership, we will aim to complement the bank's impressive track record...

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