Recently, a meeting was held between Ajay Banga, President of the World Bank Group and Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance of the United Arab Emirates(UAE). During this meeting, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum highlighted the importance of improving the partnership between the United Arab Emirates and the World Bank Group to overcome the economic challenges of the present time.
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum also emphasised the role of the World Bank Group in supporting the agenda under the (conference of parties)COP28. The COP28 is related to areas like food, water, climate financing, etc. Moreover, the COP28 is going to be held in Dubai from 30 November to 12 December 2023 at Expo City.
It is to be specifically mentioned that COP serves as the formal meeting of the UNFCCC regarding the action and strategy on climate change, limiting carbon emissions and other climate-related issues.
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum also said that UAE 28 will be a unique opportunity for the world to come and discuss the climate-related issue on single on a single platform. Additionally, he stressed that COP28 will be a transformational moment for the world to unite and tackle climate-related dangers in future.
During the meeting, Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum and Ajay Banga also explored ways to advance the partnership between the UAE and the World Bank Group in accordance with the WBG’s new vision and mission.
They also discuss the ways to create a world free of poverty and make the earth a happy and liveable planet. Discussion also revolved around different opportunities and different roles of the World Bank in the region and internationally.
World Bank Group’s president reaffirmed the support of the world bank to provide every possible aid for the projects related to development and environmental protection in the UAE region.