His Excellency Obaid Al Tayer Meets Ferid Belhaj, World Bank Vice President for Mena
As part of the Ministry of Finance (MoF)’s endeavours to strengthen the UAE’s relations with various countries of the world and regional and international financial institutions and organisations, His Excellency Obaid Humaid Al Tayer, Minister of State for Financial Affairs, met Ferid Belhaj, World Bank Vice President for Middle East and North Africa and his accompanying delegation. The meeting was held today at MoF’s headquarters and sought to discuss means of strengthening joint work and cooperation between both parties.
From the World Bank Group, Dr. Merza Hasan, Executive Director of the Arab Group at the World Bank Group; Issam Abou Sleiman, World Bank Regional Director for the Gulf Cooperation Council (GCC); Sufyan Abed Alhameed Al Issa, International Finance Corporation – MENA Regional Head of Operations; and Dr. Jamal Al Kibbi, Resident Representative of the World Bank in Abu Dhabi attended the meeting.
During the meeting, His Excellency Obaid Humaid Al Tayer welcomed Ferid Belhaj and his accompanying delegation, and praised the impact of these meetings on bolstering strategic relations and cooperation between both parties and achieving the desired outcomes from the joint programmes and initiatives of the World Bank and the UAE. His Excellency said: “The UAE will continue working with various international regional institutions and entities, especially the World Bank Group, to focus on the strategic objectives that serve the region, and benefit from the expertise of those entities to help achieve sustainable economic and social development, and advance economic growth, especially in light of the exceptional circumstances the world is witnessing today due to the COVID-19 pandemic.”
The meeting deliberated topics related to the World Bank office in Abu Dhabi; and the road map of the Regional Technology Center and its operations during the period 2021-2025, which would serve as a development institution to devise policies, and a platform for job creation and attracting capabilities in the Middle East, to benefit from their employment in advancing technological growth and innovation – to be in line with the rapid growth of the global technology pace.
The meeting reviewed the economic prospects in the GCC, and His Excellency Obaid Humaid Al Tayer stressed on the importance of working on the necessary reforms to keep pace with the changes taking place in the world, which will help boost the GDP growth in the region.
UAE Ministry of Finance
The UAE Ministry of Finance (MoF) is responsible for implementing all fiscal, monetary and industrial policies related to the UAE’s economic development. Among its core responsibilities are the preparation and allocation of the Federal Budget and the management of the government’s financial position.