(MENAFN- Mid-East Info)

• Ensuring fairer representation of emerging and developing markets in the governance of international institutions
• Discussing mechanisms for climate finance to achieve the“Baku to Belém Roadmap”
• Highlighting issues related to reforming the structure of the international financial system and global financial and economic stability
• Addressing the role of the G20 in tackling debt sustainability challenges
• Exploring the priorities of the 2026 G20 presidency by the United States
• Exploring ways to coordinate BRICS countries' efforts in providing financing for development

Mohamed bin Hadi Al Hussaini: The UAE is an active partner in developing financial governance and directing global development financing

The UAE has concluded its participation in the annual meetings of the World Bank Group and the International Monetary Fund, held in Washington, D.C., from October 13 to 18, 2025.

The country's engagement represented a significant milestone in supporting international dialogue on development financing, promoting the stability of the global financial system, and advancing efforts toward achieving sustainable development.

His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, stressed that the UAE's participation in the annual meetings is part of its ongoing efforts to enhance international financial coordination, develop innovative financing instruments, and support the sustainability of global economic growth.

His Excellency added:“The UAE is committed to playing a key role as an active partner in developing the global financial governance system and finding practical solutions to current developmental and economic challenges. This year's annual meetings provided an important platform to strengthen cooperation with international financial institutions and exchange expertise on sustainable finance, financial inclusion, and the green transition.”

IMFC Meeting:

Al Hussaini participated in the International Monetary and Financial Committee (IMFC) meeting, held as part of the annual World Bank Group and IMF meetings, where discussions focused on IMF's global policies. Attendees also discussed the global economic agenda and latest developments as well as the Fund's role in addressing them.

In his keynote speech at the meeting, Al Hussaini noted that recent major political shifts have heightened global uncertainty and exposed new vulnerabilities in the world economy, adding that developing and emerging economies remain particularly susceptible to sharp slowdowns compared to advanced economies.

The minister stressed that addressing these challenges requires a united approach that advocates for multilateralism and strengthened international cooperation to restore confidence and guide the global economy back on track.

He emphasised that the International Monetary Fund plays a fundamental role as a trusted advisor and a key platform for global dialogue during periods of uncertainty.

His Excellency further highlighted the need for the Fund to remain a quota-based institution with adequate resources, while reflecting the interests of emerging markets and developing economies.

He also stressed the importance of capacity building and policy support for countries in transition and advocated for private sector-led growth driven by structural reforms and greater trade integration.

G20 Meetings:

As part of the annual meetings, the UAE participated in the G20 Finance Ministers and Central Bank Governors' meeting, the concluding session of the G20 financial track under South Africa's 2025 presidency.

The meeting addressed issues related to reforming the structure of the international financial system, global financial and economic stability, enhancing G20 cooperation with Africa, and the role of the group in addressing global debt sustainability challenges.

The session also featured a presentation by the United States outlining the priorities for its 2026 G20 presidency and concluded with the issuance of the“Final Summary by the Chair of the G20 Finance Track.”

The summary reviewed the work conducted over the year by various working groups on key issues, including reform of the international financial system, sustainable finance, financial inclusion, macroeconomic stability, infrastructure development, and health financing.

BRICS Meetings:

The UAE also participated in the BRICS meeting titled“Enhancing Multilateral Cooperation to Address Development Financing and Global Governance Challenges.”

The meeting, attended by finance ministry undersecretaries and Deputy Governors of Central Banks from BRICS countries, discussed ways to ensure fairer representation of Global South countries in the governance of international institutions such as the IMF, and explored mechanisms for coordinating BRICS efforts in providing development financing.

The UAE expressed appreciation for the progress achieved under Brazil's BRICS presidency this year and affirmed that the outcomes of the financial track were highly significant, carrying exceptional value through the joint financial statement of the BRICS countries.

The UAE highlighted the Rio de Janeiro vision for reforming IMF quotas and governance, as well as the joint BRICS statement supporting the United Nations Framework Convention on International Tax Cooperation, which was ratified on the sidelines of the BRICS summit in Rio de Janeiro, Brazil, last July.

Conference of the Parties (COP30)

The UAE also took part in the Finance Ministers' Meeting of the Conference of the Parties (COP30) to the United Nations Framework Convention on Climate Change, convened under the initiative of Brazil's COP presidency, which brings together finance ministers participating in the“Finance Ministers' Circle for COP.”

The meeting focused on mobilising climate finance to achieve the“Baku to Belém Roadmap” and reach a target of USD 1.3 trillion. It explored the final technical report of the initiative, which included recommendations to accelerate progress in concessional financing, reforming multilateral development banks, and mobilising domestic resources.

The UAE expressed its deep appreciation for the efforts invested in preparing this report, recognising it as an important technical reference for the Baku to Belém Roadmap toward USD 1.3 trillion.

It also thanked Brazil for its consultative approach in gathering the feedback and inputs of the Finance Ministers' Circle members and expressed anticipation for the success of COP30 in Belém.

Arab Governors meeting with President of the World Bank Group:

As part of the Annual Meetings, the UAE joined the Meeting of Arab Governors with World Bank Group President Ajay Banga. Discussions focused on ways to develop a more coordinated, proactive, and responsive approach to recovery and reconstruction efforts across the region.

The meeting also addressed ways to mobilise the private sector to support sustainable growth, job creation, and innovation, while integrating digital transformation into labour market strategies and balancing climate adaptation and mitigation efforts.

The UAE emphasised the importance of governance, transparency, and institutional resilience within recovery frameworks. It also highlighted the need to close infrastructure gaps, invest in human capital, and expand opportunities in the digital and green economies by fostering greater private sector engagement.

Banks Reception:

On the sidelines of the meetings, the Ministry of Finance, in collaboration with the Central Bank of the United Arab Emirates and the UAE Embassy in Washington, hosted a reception for UAE banks, attended by international officials and heads of leading global financial institutions.

The reception provided a platform to showcase the vital role that national banks play in supporting the UAE's strategic priorities especially in sustainable finance, while strengthening international partnerships in investment, financial technology, and development finance.

The event also reaffirmed the UAE's position as an open and forward-looking global financial hub and underscored the readiness of the UAE banking sector to support the global economic transformation through innovative financial solutions and cross-border collaborations that promote the resilience and sustainability of the international financial system.

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