ADFD, AIIB explore ways to strengthen cooperation over sustainable economic development

ABU DHABI, 23rd November, 2022 (WAM) — Mohamed Saif Al Suwaidi, Director-General of Abu Dhabi Fund for Development (ADFD), today met at the Fund’s headquarters Jin Liqun, President of the Asian Infrastructure Investment Bank (AIIB).
The meeting was attended by Khalifa Abdullah Al Qubaisi, Deputy Director-General of ADFD, and other officials from both sides. The two sides discussed the development of bilateral relations and explored new investments opportunities in vital sectors.
Al Suwaidi said, “ADFD has close relations with the Asian Infrastructure Investment Bank, especially as the two entities share similar objectives. The Fund is keen to enhance economic cooperation with the bank that would support the common mission to achieve sustainable development in developing countries.”
He welcomed AIIB’s decision to opt for Abu Dhabi as the preferred location to have its first operational office outside of China, which he said would also help in the unification of efforts to smoothen coordination between the UAE and AIIB to achieve the bank’s strategic objectives for expansion.
Al Suwaidi also discussed ways to enhance cooperation between ADFD and the bank over the Energy Transition Accelerator Financing (ETAF) initiative to accelerate the global energy transition, a strategic priority of both organisations.
He pointed out that ADFD and AIIB had contributed to the platform, which plays a critical role in financing renewable energy projects.
The UAE participated in the seventh annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank in October of this year.
Represented by 105 member states, in addition to the strategic partners of the bank, the meeting highlighted the importance of increasing investment in clean energy projects and unification of efforts to reduce the effects of climate change.