The UAE has signed an agreement to host the 2029 Annual Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF) in Abu Dhabi.
The meetings will mark the second time the UAE has hosted the event, following Dubai in 2003.
The 2029 meetings are set to bring together finance ministers, central bank governors, policymakers, economic experts, private sector representatives, civil society representatives, media and academics from 191 countries.
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They will examine the challenges facing the global economy, the outlook for growth and financial stability, and policies to support inclusive and sustainable development.
The signing builds on the UAE’s longstanding partnership with both institutions. Officials said hosting the event would also cement Abu Dhabi’s role as a global centre for economic decision-making and multilateral financial dialogue.
‘Significant milestone’
Mohamed bin Hadi Al Hussaini, minister of State for Financial Affairs, said the signing of the agreement marked a significant milestone, reflecting the international community’s enduring confidence in the UAE’s readiness, the efficiency of its infrastructure and financial system, and its ability to host major international events of strategic importance.
He added that the selection built on the UAE’s track record of hosting major economic events and its role in supporting sustainable development and digital transformation.
He said the UAE would continue working with the IMF and the World Bank Group to put in place the facilities and organisational capabilities needed to ensure the meetings’ success.
Khaled Mohamed Balama, governor of the Central Bank of the UAE and the UAE’s governor to the IMF, said Abu Dhabi’s hosting of the meetings reflected the leadership’s efforts to reinforce the UAE’s global standing and the competitiveness of its financial system.
“This selection is a testament to international confidence in the strength of the UAE’s financial and banking sector and the efficiency of the financial, regulatory and monetary infrastructure overseen by the Central Bank,” he said.
He said the Central Bank looked forward to leading international efforts to advance global financial and monetary stability, accelerate secure digital innovation and drive the transition towards sustainable finance. The bank would bring the UAE’s expertise in financial stability, financial infrastructure and digital financial services to the global discussion, he added.
Welcome decision
Ajay Banga, president of the World Bank Group, said the UAE had built institutions and infrastructure “with a spirit of bold ambition and partnership”.
“Abu Dhabi is a fitting host for the Annual Meetings, where our focus is on development impact and delivering jobs, growth and financing at scale,” he said.
Kristalina Georgieva, managing director of the IMF, said she was delighted that the UAE would host the IMF membership in 2029.
“The UAE has become an important hub for ideas, finance, innovation and international cooperation,” she said.
Ahmed Jasim Al Zaabi, chairman of the Abu Dhabi Department of Economic Development, said Abu Dhabi brought together the institutional strength, regulatory certainty and long-term investment capacity needed to support sustainable economic growth.
The agreement was signed at the conclusion of the 2026 Annual Meetings in Bangkok, Thailand, reflecting growing international confidence in the UAE’s economic and financial ecosystem, officials said.
Source: Khaleej Times