ABU DHABI, UAE, April 19, 2023 /PRNewswire/ -- The Asian Infrastructure Investment Bank (AIIB) and the United Arab Emirates (UAE) have signed a host member agreement to officially open the first office of the Bank in Abu Dhabi in the abroad, a Provisional Operational Center (the Center). Jin Liqun, Chairman and Director of the AIIB Board of Directors, joined His Excellency Dr. Sultan Al Jaber, AIIB Minister of Industry and Advanced Technology and UAE Governor, during the signing ceremony in Abu Dhabi.
"As a founding member of the AIIB, the UAE actively contributes to the good governance and rapid growth of the Bank," said Chairman Jin. "The establishment of the Center in the UAE provides the Bank with a strong platform to manage our growing investment portfolio. It also enhances client and member engagement, project oversight and implementation services around the world."
In his remarks, H.E. Dr. Al Jaber said: "The agreement to host the operational office of the AIIB reflects the UAE's commitment to enhance cooperation with international organizations and institutions focused on sustainable economic development for developing countries."
He added that the office will serve as a strategic destination in the Middle East and in the world, supporting the development agenda of the AIIB and financing infrastructure projects to achieve sustainable economic growth."
The rapid growth of the AIIB is the catalyst for the opening of an office that helps bring the Bank closer to customers and to the front line of its activity. The Center provides proximity to global financial centers and connectivity to the international infrastructure ecosystem, which is important to maintaining the AIIB's growth momentum.
The Abu Dhabi Development Fund was mandated to represent the UAE on the Bank's Board of Directors and to actively participate in its regular meetings. To date, the AIIB has approved 212 projects worth more than 40,000 million dollars in 33 member countries, which have contributed to economic development and improved the quality of life of the communities of the beneficiary countries.
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is to finance the infrastructure of tomorrow, infrastructure whose core is sustainability. We started our operations in Beijing in January 2016 and have since grown to 106 approved members around the world. We have a capitalization of 100,000 million dollars and a Triple A rating granted by the main international credit rating agencies. In collaboration with its partners, the AIIB meets the needs of clients by unlocking new capital and investing in infrastructure that is ecological, technological and promotes regional connectivity.
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