The United Arab Emirates, represented by the Ministry of Finance, is participating in the annual meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD) , which is being hosted by Riga, the capital of the Republic of Latvia, from June 5 to 7. The meeting is attended by senior officials, decision-makers, and representatives of international financial institutions from around the world. The UAE was represented at the meetings by His Excellency Ali Abdullah Sharafi, Assistant Undersecretary for International Financial Relations at the Ministry of Finance, along with a number of specialists from the Ministry.

The UAE’s participation in these meetings comes within the framework of its keenness to enhance its cooperation with international financial and development institutions, and to support efforts aimed at promoting economic stability and sustainable development at the global level, and to emphasize its commitment to supporting multilateral action and strengthening international partnerships aimed at addressing global economic challenges.

Strengthening economic governance

His Excellency Ali Abdullah Sharafi delivered the UAE’s speech during the special session on “Strengthening Economic Governance,” during which he addressed the global economic repercussions of regional conflicts, and the importance of strengthening international cooperation to ensure the stability of global markets, supply chains, and energy and food security .

His Excellency stressed the importance of the Bank continuing to strengthen its support for countries most affected by global economic challenges, by employing its financing tools and technical expertise to support energy projects, especially renewable ones, to diversify sources and reduce fluctuations in consumption prices, in addition to developing financial and development systems and policies with member countries to employ financing efficiently, in a way that contributes to promoting economic growth, creating job opportunities and consolidating the quality of life for peoples .

His Excellency stressed the importance of enhancing food security and the sustainability of the agricultural sector by expanding technical support and innovative financing solutions, calling on member states and the international community to intensify cooperation to support food systems most vulnerable to challenges.

On another note, he emphasized that investment in digital infrastructure has become a cornerstone for achieving sustainable growth and enhancing national competitiveness amidst the accelerating global digital transformation. These efforts align with shared global trends aimed at building more interconnected and resilient digital economies. This investment encompasses the development of high-speed communication networks, cloud computing, and data centers, in addition to emerging technologies such as artificial intelligence, thereby supporting innovation and improving the efficiency of government and private sector services.

sessions

The agenda for the first day included the opening ceremony of the annual meeting of the Board of Governors, the adoption of the agenda and organizational reports, as well as opening remarks. The second day witnessed the convening of the plenary session of the Board of Governors, which included a number of roundtable discussions on the most prominent global economic and development issues, including the Bank’s role in supporting economies affected by conflicts, the future of the Bank’s activities in Ukraine, in addition to the focus on strengthening economic governance in the countries of operations of the European Bank for Reconstruction and Development.

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