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03 March 2024

Mohammed bin Rashid meets with President of the World Bank Group at World Governments Summit 2024

By E247

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, today met with Ajay Banga, President of the World Bank Group (WBG), on the first day of the World Governments Summit (WGS) 2024.

The meeting was held in the presence of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, and His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance of the UAE.

During the meeting, HH Sheikh Mohammed bin Rashid and the President of WBG discussed global economic issues, recent advancements in the UAE’s economic development process and strategies to strengthen cooperation between the UAE and the World Bank Group. This includes enhancing collaboration in exchanging experiences, sharing knowledge and developing national competencies.

The meeting also explored strategies to enhance the global business environment by drawing upon the UAE's leading experience in creating an attractive business climate for investors locally, regionally and internationally. The UAE's pioneering efforts in this regard serve as an exemplary model in the region and globally, particularly in the development of regulations and legislations.

His Highness Sheikh Mohammed bin Rashid Al Maktoum expressed his appreciation to the World Bank for its role in supporting developing economies and advancing global economic development rates.

Sheikh Mohammed said: “The World Bank’s efforts to eradicate poverty, enhance global prosperity, create opportunities for sustainable economic growth and invest in building human capabilities are commendable.”

His Highness stressed the UAE’s commitment to strengthening its relations with the World Bank Group and discovering new opportunities for cooperation to advance national, regional and international interests. He also underscored the importance of these collective endeavours in shaping a brighter future and ensuring peace, stability and prosperity across the world.

The meeting was also attended by His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai; His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman and Chief Executive of Emirates Airline and Group; His Excellency Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs and Chairman of the World Governments Summit; and His Excellency Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs.

The President of the World Bank Group underscored the UAE’s pioneering development model, which has been recognised across the region and the world. Ajay Banga said that the UAE’s achievements in development embody valuable knowledge that could benefit other countries.

He added that the World Bank Group is committed to enhancing its collaboration with the World Governments Summit to facilitate global cooperation, with the aim of creating a brighter future for humanity.

The WGS 2024 is being held in Dubai until 14 February under the theme of ‘Shaping Future Governments’. The three-day mega-event has brought together more than 25 heads of state, more than 85 international and regional organisations and global institutions, 140 governments, and distinguished global thought leaders and experts.

Over 200 prominent speakers will address future global trends during more than 110 dialogues and sessions. WGS 2024 features more than 4,000 attendees, and over 23 ministerial meetings and executive sessions attended by more than 300 ministers.