UAE Ministry of Finance Unveils World Bank Advisory Services Platform

UAE, 9 December, 2024 : The Ministry of Finance has launched a dedicated webpage for the World Bank Group’s advisory services, enabling local entities to apply for and monitor their requests efficiently. Announcing the initiative, HE Younis Haji Al Khoori, Undersecretary of the Ministry of Finance, emphasized the UAE’s enduring strategic partnership with the World Bank, which spans decades and serves as a model of successful technical cooperation and knowledge exchange.

Al Khoori’s remarks came during a workshop organized by the World Bank Group in collaboration with the Ministry of Finance at the Abu Dhabi Global Market Academy. The event explored the World Bank’s mission, vision, products, and services while showcasing its current activities in the UAE and GCC, opening doors for enhanced cooperation and partnership opportunities.

Highlighting key achievements, Al Khoori noted the role of the World Bank in supporting the UAE’s development journey, including the issuance of its first local bonds, modernizing insolvency laws for SMEs, promoting women’s economic empowerment, and addressing climate change. He reiterated the Ministry’s commitment to strengthening this collaboration to achieve the country’s ambitious development goals.

The workshop facilitated in-depth discussions between the World Bank delegation and UAE government representatives, focusing on sustainable development initiatives that align with national priorities. Sessions covered a range of topics, including governance, competitiveness, trade, climate change, and digital transformation.

The event also marked the renewal of the Advisory Services Payable Agreement between the UAE and the International Bank for Reconstruction and Development, which provides a framework for technical support agreements. Originally signed in 2014 and renewed in 2019, this agreement enables UAE authorities to benefit from the World Bank’s expertise, underscoring the nation’s commitment to leveraging global partnerships for sustainable progress.

Source : www.mof.gov.ae