Latest news with #AIIB
Mid East Info
21 hours ago
- Business
- Mid East Info
UAE Participates in the 10th Annual Meeting of the Board of Governors of AIIB - Middle East Business News and Information
Dr. Sultan Al Jaber participates in high-level roundtable on the sidelines of AIIB's Board of Governors Meeting, and reaffirms the UAE leadership's commitment to global partnerships and sustainable development goals Beijing June 2025 – H.E. Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and the UAE Governor to the Asian Infrastructure Investment Bank (AIIB), participated in a high-level roundtable held on the sidelines of the Bank's 10th Annual Meeting of the Board of Governors, hosted in Beijing from June 24 to 26, 2025, under the theme 'Connecting for Development, Collaborating for Prosperity.' During the meeting, the Board reviewed key achievements over the past year and explored future initiatives and projects. Participants emphasized the importance of coordinated international efforts to address global economic challenges—particularly those related to climate change—by expanding strategic partnerships, mobilizing concessional finance, and investing in sustainable infrastructure. Dr. Sultan Al Jaber commended AIIB's pioneering achievements and its critical role in financing transformative infrastructure projects across member countries. He noted that the UAE's support for this strategic partnership aligns with the directives of its wise leadership, which prioritizes multilateral cooperation, economic development, and bridge-building among nations. During his meeting with Ms. Zou Jiayi, the new President of AIIB, Dr. Sultan Al Jaber reaffirmed the UAE's continued support for AIIB's efforts to expand its global impact, noting the Bank's success since its establishment in improving living standards in many countries through developmental support and showcasing the importance of multilateral institutions in both development and financing. H.E. Mohamed Saif Al Suwaidi, Director General of the Abu Dhabi Fund for Development and Alternate Governor for the UAE at AIIB, underscored the importance of the strategic partnership between the Fund and the Bank. He emphasized their shared development objectives, which effectively contribute to sustainable economic and social growth in developing nations. He added that AIIB's operational office in Abu Dhabi Global Market has proven to be a successful model for strengthening the Bank's capacity and expanding its operations. Within its first year, the office has helped align investments with the Bank's strategic priorities and enhanced engagement with clients, partners, and stakeholders across the region. It is worth noting that the UAE joined AIIB as a founding member in April 2015 and hosts the Bank's first operational office outside of China, reflecting the UAE's active and leading role in supporting and strengthening multilateral international institutions. Promising Growth and Impact: Over the past decade, AIIB has approved financing exceeding USD 60 billion to support 318 projects. According to its 2024 Annual Report, the Bank recorded exceptional operational growth, approving 51 new projects in 19 member countries, amounting to USD 8.4 billion in financing. AIIB also made significant progress in climate financing, allocating 67% of its total USD 5.6 billion in funding to sustainable projects—exceeding its 2025 target of 50%. 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 tons of CO₂ emissions. This decade of success reflects the UAE's forward-looking vision and its dedication to supporting multilateral institutions focused on sustainable development. It also reaffirms the country's strong commitment to international cooperation in addressing global challenges.
Sharjah 24
a day ago
- Business
- Sharjah 24
UAE participates in 10th Meeting of Board of Governors of AIIB
During the meeting, the Board reviewed key achievements over the past year and explored future initiatives and projects. Participants emphasised the importance of coordinated international efforts to address global economic challenges—particularly those related to climate change—by expanding strategic partnerships, mobilising concessional finance, and investing in sustainable infrastructure. Dr. Al Jaber commended AIIB's pioneering achievements and its critical role in financing transformative infrastructure projects across member countries. He noted that the UAE's support for this strategic partnership aligns with the directives of its wise leadership, which prioritises multilateral cooperation, economic development, and bridge-building among nations. During his meeting with Zou Jiayi, the new President of AIIB, Dr. Al Jaber reaffirmed the UAE's continued support for AIIB's efforts to expand its global impact, noting the Bank's success since its establishment in improving living standards in many countries through developmental support and showcasing the importance of multilateral institutions in both development and financing. Mohamed Saif Al Suwaidi, Director-General of the Abu Dhabi Fund for Development and Alternate Governor for the UAE at AIIB, underscored the importance of the strategic partnership between the Fund and the Bank. He emphasised their shared development objectives, which effectively contribute to sustainable economic and social growth in developing nations. He added that AIIB's operational office in Abu Dhabi Global Market has proven to be a successful model for strengthening the Bank's capacity and expanding its operations. Within its first year, the office has helped align investments with the Bank's strategic priorities and enhanced engagement with clients, partners, and stakeholders across the region. It is worth noting that the UAE joined AIIB as a founding member in April 2015 and hosts the Bank's first operational office outside of China, reflecting the UAE's active and leading role in supporting and strengthening multilateral international institutions. Over the past decade, AIIB has approved financing exceeding US$60 billion to support 318 projects. According to its 2024 Annual Report, the Bank recorded exceptional operational growth, approving 51 new projects in 19 member countries, amounting to US$8.4 billion in financing. AIIB also made significant progress in climate financing, allocating 67 percent of its total $5.6 billion in funding to sustainable projects—exceeding its 2025 target of 50 percent. 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. This decade of success reflects the UAE's forward-looking vision and its dedication to supporting multilateral institutions focused on sustainable development. It also reaffirms the country's strong commitment to international cooperation in addressing global challenges.
Qatar Tribune
a day ago
- Business
- Qatar Tribune
Qatar to host Asian Infrastructure Investment Bank annual meeting
BEIJING: The State of Qatarwill host the11th Annual Meeting of the Asian Infrastructure Investment Bank in 2026. Minister of Finance HE Ali bin Ahmed Al Kuwari, representing the State of Qatar, and President of the Asian Infrastructure Investment Bank (AIIB), Jin Liqun signed the agreement for hosting the 2026 Annual Meeting, on the margin of the the Annual Meeting of the AIIB, taking place in Beijing, China. In his speech during the signing ceremony, the Minister stated: "Our capital stands out as a hub for global dialogue and cooperation, and we look forward to welcoming you with Qatari warmth, professionalism, and a deep respect for the multilateral values that unite us." He highlighted the importance of leveraging this event to foster international dialogue on the future of infrastructure, stating: "We hope the Doha Annual Meeting will serve as a platform to deepen the conversation on future infrastructure, whether in sustainable transport, resilient energy systems, or cross-border connectivity projects such as the Development Road in Iraq and other vital corridors across Asia and the Middle East." He reaffirmed Qatar's commitment to supporting the Bank's objectives and enhancing the partnership, saying: "We do not view the Asian Infrastructure Investment Bank merely as a financial institution, but rather as a platform for ideas, partnerships, and shared prosperity. Our national vision is built upon principles of diversification, sustainability, and human capital—values we aspire to embody when we host you in Doha." For his part, AIIB President and Chair of the Board of Directors, Jin Liqun said: "Located at the crossroads of Asia, Africa, Europe and South America, Qatar serves as a vital global connector." "Hosting the 2026 Annual Meeting there will open new avenues for interregional collaboration on sustainable infrastructure, connectivity and innovation," he added. Qatar's hosting of this prominent international event reflects its growing stature as a leading regional financial and investment hub and underscores its ongoing commitment to supporting multilateral development initiatives and enhancing international cooperation in infrastructure and sustainable development.
The National
a day ago
- Business
- The National
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.
Argaam
a day ago
- Business
- Argaam
Saudi Water Authority to finance SAR 2.4B Jubail, Al Khobar desalination systems
The Saudi Water Authority signed a financing agreement with the Asian Infrastructure Investment Bank (AIIB) and the National Infrastructure Fund (Infra) to support a strategic project aimed at developing the infrastructure of the first phase of the Jubail desalination system and the second phase of the Al Khobar system, at a total value of SAR 2.43 billion. According to SPA, AIIB will provide over SAR 1.6 billion in funding under the agreement, marking one of the largest non-sovereign institutional financing deals supported by the bank to date. This strengthens public-private partnerships in strategic infrastructure projects. Infra will contribute SAR 750 million. The water sector is one of the key focus areas of the fund, aligning with the goals of Saudi Vision 2030. The project aims to convert the Jubail Phase 1 and Al Khobar Phase 2 desalination systems from multi-stage thermal desalination to reverse osmosis (RO) technology. This shift is expected to improve energy efficiency, increase water production capacity, and extend the operational lifespan of both systems by around 20 years, in support of Saudi Arabia's sustainability and climate goals under Vision 2030. The Al Khobar Phase 2 desalination system has achieved a global milestone as the world's largest seawater desalination plant using RO technology, with a record production capacity of 670,852.4 cubic meters per day. It was also built on the smallest land area globally for a plant of its kind, thanks to the application of advanced technical methodologies and value engineering. This agreement follows a joint announcement made earlier this year between the AIIB and the Government of Saudi Arabia, which laid the groundwork for long-term cooperation in the areas of water, wastewater, renewable energy, sustainable transport, and urban development.
