Abu Dhabi:The United Arab Emirates will host the IMF-World Bank Annual Meetings in 2029, marking the return of the event to the region after 26 years. The meetings will take place in Abu Dhabi, as confirmed by an agreement signed by the World Bank Group and the International Monetary Fund (IMF) with representatives from the UAE.
According to Thai News Agency, the agreement highlights the UAE's role as a global economic hub, with the potential to stimulate private sector funding alongside public and philanthropic capital. Ajay Banga, President of the World Bank Group, emphasized the importance of the meetings as a platform for collaboration among academia, banking professionals, and policymakers.
The UAE was praised for its remarkable economic transformation and social development efforts, including hosting a Gender Knowledge Hub. The 2029 meetings in Abu Dhabi are seen as a significant milestone in promoting sustainable growth and stable international finance.
IMF Managing Director Kristalina Georgieva referenced a quote from UAE's founding father, Sheikh Zayed, to emphasize the importance of preparing for a rapidly changing world. The upcoming meetings are expected to provide an opportunity for such preparations as Abu Dhabi continues to evolve as a global hub.
Thailand, the previous host, was commended for its excellent organization and hospitality during the recent conference. His Excellency Mohamed bin Hadi Al Hussaini, UAE's Minister of State for Financial Affairs, expressed pride in hosting the upcoming event and looked forward to welcoming participants back to the UAE.