UAE Engages in Third G20 FMCBG Meeting in Brazil, Discusses Sustainable Finance and Global Economic Challenges

UAE, 14 August, 2024 : The UAE, represented by the Ministry of Finance and the Central Bank of the UAE, participated in the third G20 Finance Ministers and Central Bank Governors (FMCBG) meeting held in Rio de Janeiro on July 25-26 under Brazil's 2024 presidency. The UAE delegation, led by HE Mohamed Bin Hadi Al Hussaini, Minister of State for Financial Affairs, engaged in discussions on global economic challenges, financial inclusion, international tax cooperation, and sustainable finance.

On the sidelines, Al Hussaini met with Brazilian President Luiz Inácio Lula da Silva to discuss enhancing bilateral cooperation in sustainable finance. Al Hussaini emphasized the importance of international collaboration to address global economic challenges and support sustainable financial stability.

The meeting focused on key issues such as climate-resilient infrastructure, transparency in sustainability reporting, and strengthening multilateral development banks. Participants also discussed global economic trends, debt vulnerabilities in low-income countries, and strategies to promote sustainable financial flows.

The UAE has participated in previous G20 meetings, including earlier sessions in São Paulo and Washington, DC, marking its continued commitment to international cooperation and economic development.

Source : www.mof.gov.ae