Local Business

UAE Minister of State for Financial Affairs meets with World Bank VP for Mena region

reporters@khaleejtimes.com Filed on July 13, 2021

Obaid Humaid Al Tayer, Minister of State for Financial Affairs, recently met Ferid Belhaj, World Bank vice president for the Middle East and North Africa and his accompanying delegation to discuss means of strengthening joint work and cooperation between both parties.

The meeting is part of the Ministry of Finance (MoF)’s endeavours to strengthen the UAE’s relations with various countries of the world and regional and international financial institutions and organisations.

From the World Bank Group, Dr. Merza Hasan, executive director of the Arab Group at the World Bank Group; Issam Abou Sleiman, World Bank regional director for the Gulf Cooperation Council (GCC); Sufyan Abed Alhameed Al Issa, International Finance Corporation – MENA regional head of Operations; and Dr. Jamal Al Kibbi, resident representative of the World Bank in Abu Dhabi attended the meeting.

During the meeting, Obaid Humaid Al Tayer welcomed Ferid Belhaj and his accompanying delegation, and praised the impact of these meetings on bolstering strategic relations and cooperation between both parties and achieving the desired outcomes from the joint programmes and initiatives of the World Bank and the UAE.

He said: “The UAE will continue working with various international regional institutions and entities, especially the World Bank Group, to focus on the strategic objectives that serve the region, and benefit from the expertise of those entities to help achieve sustainable economic and social development, and advance economic growth, especially in light of the exceptional circumstances the world is witnessing today due to the Covid-19 pandemic.”

The meeting deliberated topics related to the World Bank office in Abu Dhabi; and the road map of the Regional Technology Center and its operations during the period 2021-2025, which would serve as a development institution to devise policies, and a platform for job creation and attracting capabilities in the Middle East, to benefit from their employment in advancing technological growth and innovation – to be in line with the rapid growth of the global technology pace.

The meeting reviewed the economic prospects in the GCC, and Obaid Humaid Al Tayer stressed on the importance of working on the necessary reforms to keep pace with the changes taking place in the world, which will help boost the GDP growth in the region.


Staff Reporter

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