UAE The Ministry of Finance has announced the launch of an online platform dedicated to the World Bank’s advisory services. This new webpage enables local organizations to efficiently request and track the status of their advisory service applications.
Younis Haji Al Khoori, Under-Secretary of the Ministry of Finance, emphasized the UAE’s enduring and strategic partnership with the World Bank Group, which has flourished over several decades. He remarked that this collaboration represents a distinctive model of successful cooperation in technical areas and knowledge sharing, with both parties focused on enhancing financial and economic institutions to promote sustainable development.
These comments were made during a workshop co-hosted by the World Bank Group and the Ministry of Finance at the Abu Dhabi Global Market Academy, the educational arm of ADGM.
The workshop aimed to outline the World Bank Group’s mission, primary services, initiatives, and strategic priorities in global development. It also assessed the Group’s current activities in the UAE and the broader GCC, paving the way for stronger partnerships and new cooperation opportunities.
Among the attendees were Safaa El Tayeb El Kogali, World Bank’s Country Director for the GCC, Iva Hamel, World Bank’s Resident Representative for the UAE, and Abdullah Jafri, Regional Director for GCC Affairs at the International Finance Corporation (IFC), along with representatives from various UAE ministries and agencies.
Al Khoori discussed the advancing partnership between the UAE and the World Bank, highlighting key developments such as the opening of the World Bank office in Abu Dhabi in 2019 and the establishment of the International Finance Corporation’s regional office in Dubai. He noted that this collaboration has led to significant accomplishments, including the issuance of local bonds, modernization of insolvency laws, and initiatives aimed at enhancing women’s economic empowerment, entrepreneurship, and climate change mitigation.
The workshop featured dialogues between the World Bank Group delegation and UAE government representatives, focusing on identifying critical cooperation areas and exploring mutually beneficial partnerships. The discussions aimed to leverage shared expertise and resources to drive sustainable development initiatives that align with the UAE’s national priorities.
Additionally, the Ministry of Finance and the World Bank Group have signed a second renewal of the Advisory Services Payable Agreement between the UAE and the International Bank for Reconstruction and Development. Initially signed in 2014 and first renewed in 2019, this agreement facilitates technical support service agreements between federal and local authorities in the UAE, allowing them to access the World Bank’s extensive expertise.
