Abu Dhabi, UAE – Abu Dhabi Fund for Development (ADFD) and Asian Infrastructure Investment Bank (AIIB) on Wednesday explored ways to strengthen cooperation over sustainable economic development during a meeting between Mohamed Saif Al Suwaidi, Director-General of ADFD and Jin Liqun, President of the AIIB.
Al Suwaidi 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.
“ADFD has close relations with the Asian Infrastructure Investment Bank, especially as the two entities share similar objectives,” Al Suwaidi said. “The Fund is keen to enhance economic cooperation with the bank that would support the common mission to achieve sustainable development in developing countries.”
Al Suwaidi and Jin Liqun 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.
The UAE participated in the seventh annual meeting of the Board of Governors of the Asian Infrastructure Investment Bank in October 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.