The Asian Infrastructure Investment Bank (AIIB) and theย United Arab Emiratesย (UAE) signed a host member agreement to officially open inย Abu Dhabiย the Bank’s first overseas office, an Interim Operational Hub (the Hub). Jin Liqun, President and Chair of the Board of Directors of AIIB, joined His Excellency Dr.ย Sultan Al Jaber, Minister of Industry and Advanced Technology and UAE Governor of AIIB, during the signing ceremony inย Abu Dhabi.
“As a founding member of AIIB, the UAE actively contributes to the Bank’s sound governance and rapid growth,” said President Jin. “The establishment of the Hub in the UAE gives the Bank a robust platform to manage our growing investment portfolio. It also enhances client and member engagement, project monitoring and implementation services across the globe.”
In his remarks, H.E. Dr.ย Al Jaberย said: “The agreement to host AIIB’s operational office 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 would serve as a strategic destination in theย Middle Eastย and the world, supporting AIIB’s development agenda and financing infrastructure projects to achieve sustainable economic growth.”
AIIB’s rapid growth is the catalyst for opening an office that helps bring the Bank closer to clients and to the frontline of its business. The Hub provides proximity to global financial centers and connectivity with the international infrastructure ecosystem which is important in maintaining AIIB’s growth momentum.
The Abu Dhabi Fund for Development was mandated to represent the UAE on the Bank’s Board and to actively participate in its periodic meetings. As of today, AIIB has approved 212 projects amounting to overย USD40 billionย in 33 member countries, which have contributed to economic development and improved the quality of life for communities in beneficiary countries.
