UAE reaffirms commitment to global partnerships and sustainable goals at AIIB Beijing summit
The UAE has reaffirmed its commitment to global partnerships and sustainable development goals during a meeting of the board of governors of t he Asian Infrastructure Investment Bank (AIIB) in Beijing.
Dr Sultan Al Jaber, Minister of Industry and Advanced Technology and the UAE governor to the AIIB, participated in the high-level roundtable held on the sidelines of the bank's annual meeting of the board of governors from June 24 to 26.
Dr Al Jaber commended AIIB's achievements and its critical role in financing transformative infrastructure projects across member countries.
The UAE's support for this strategic partnership aligns with the directives of its leadership, who prioritise multilateral co-operation, economic development and bridge-building among nations, he added.
During his meeting with Zou Jiayi, the new president of AIIB, Dr Al Jaber also reaffirmed the UAE's continued support for AIIB's efforts to expand its global impact and noted the bank's success in improving living standards in many countries through developmental support.
Based in Beijing, AIIB has 110 members, with the UAE joining as a founding and permanent member in 2015. The UAE also hosts the bank's first operational office outside of China, which was opened at ADGM in 2023.
The bank, with $100 billion in total capital, has approved financing exceeding $60 billion to support 318 projects in the past decade. According to its 2024 annual report, the bank approved 51 new projects in 19 member countries, amounting to $8.4 billion in financing.
AIIB also made significant progress in climate financing, allocating 67 per cent of its total $5.6 billion in funding to sustainable projects, exceeding its 2025 target of 50 per cent, according to the statement.
Among these initiatives were renewable energy projects with a combined capacity of more than 21 gigawatts, contributing to the annual avoidance of approximately 28 million tonnes of CO₂ emissions.
Mohamed Al Suwaidi, director general of the Abu Dhabi Fund for Development and alternate governor for the UAE at AIIB said the bank's office at ADGM has proven to be successful in expanding lender's operations.
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