Abu Dhabi:The United Arab Emirates has secured an agreement to host the 2029 Annual Meetings of the World Bank Group (WBG) and International Monetary Fund (IMF) in Abu Dhabi. This agreement was finalized following the 2026 Annual Meetings of these institutions in Bangkok, Thailand.
According to Emirates News Agency, the signing of the agreement underscores the growing international confidence in the UAE's financial system and its status as a global financial hub. The agreement was signed by Mohamed bin Hadi Al Hussaini, UAE Minister of State for Financial Affairs, and Khaled Mohamed Balama, Governor of the Central Bank of the UAE. Ajay Banga, President of the World Bank Group, and Kristalina Georgieva, Managing Director of the IMF, also signed on behalf of the international institutions.
Mohamed bin Hadi Al Hussaini expressed that the agreement is a testament to the UAE's readiness and infrastructure efficiency, further promoting international partnerships and multilateral cooperation. Khaled Mohamed Balama highlighted that Abu Dhabi's selection reflects the UAE's robust financial system and its capacity to contribute to global economic stability.
Ajay Banga and Kristalina Georgieva both acknowledged the UAE's role as a significant hub for economic dialogue and innovation. Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development, noted the international community's trust in Abu Dhabi as a center for economic dialogue and its capability to support sustainable economic growth.
The 2029 meetings will convene finance ministers, central bank governors, and economic experts from 191 countries, providing a platform for addressing global economic challenges, promoting financial stability, and supporting sustainable development. This event will mark the second time the UAE hosts the Annual Meetings, following Dubai in 2003, further solidifying Abu Dhabi's role in international economic decision-making and cooperation.