Washington: 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 13th to 18th October, 2025. The country’s engagement marked a key milestone in supporting international dialogue on development financing, promoting the stability of the global financial system, and advancing efforts toward achieving sustainable development.
According to Emirates News Agency, Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, emphasized that the UAE’s participation is part of its ongoing efforts to enhance international financial coordination, develop innovative financing instruments, and support the sustainability of global economic growth. Al Hussaini noted that 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.
Al Hussaini participated in the International Monetary and Financial Committee (IMFC) meeting, where discussions focused on IMF’s global policies. Attendees also discussed the global economic agenda, latest developments, and the Fund’s role in addressing them. In his keynote speech, Al Hussaini highlighted that recent major political shifts have heightened global uncertainty, exposing new vulnerabilities in the world economy. He stressed that addressing these challenges requires a united approach advocating for multilateralism and strengthened international cooperation.
He emphasized the role of the International Monetary Fund as a trusted advisor and key platform for global dialogue during periods of uncertainty. Al Hussaini also highlighted the need for the Fund to remain a quota-based institution with adequate resources, reflecting the interests of emerging markets and developing economies. He 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.
During the meetings, the UAE also participated in the G20 Finance Ministers and Central Bank Governors’ meeting, addressing issues related to reforming the structure of the international financial system, global financial and economic stability, and enhancing G20 cooperation with Africa. The session concluded with the issuance of the ‘Final Summary by the Chair of the G20 Finance Track,’ reviewing work conducted over the year on key issues, including sustainable finance, macroeconomic stability, and health financing.
The UAE participated in the BRICS meeting focused on enhancing multilateral cooperation to address development financing and global governance challenges. The meeting discussed ensuring fairer representation of Global South countries in the governance of international institutions such as the IMF and explored mechanisms for coordinating BRICS efforts. The UAE praised the progress achieved under Brazil’s BRICS presidency and affirmed the significance of the financial track outcomes.
Furthermore, the UAE took part in the Finance Ministers’ Meeting of the Conference of the Parties (COP30) to the United Nations Framework Convention on Climate Change, focusing on mobilizing climate finance to achieve the ‘Baku to Bel©m Roadmap’ target of USD 1.3 trillion. The UAE expressed appreciation for the efforts invested in preparing a report on accelerating progress in concessional financing and reforming multilateral development banks.
Additionally, the UAE joined the Meeting of Arab Governors with World Bank Group President Ajay Banga. Discussions focused on developing a coordinated approach to recovery and reconstruction efforts across the region, emphasizing governance, transparency, and institutional resilience within recovery frameworks.
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 event showcased the vital role of national banks in supporting the UAE’s strategic priorities and reaffirmed the UAE’s position as a global financial hub.