By: FAZLI HAQ
BANGKOK, THAILAND: The World Bank Group and the International Monetary Fund (IMF) have signed a host country agreement with the United Arab Emirates (UAE) to hold their 2029 Annual Meetings in Abu Dhabi, recognising the UAE’s growing role in international finance while the IMF leadership praised Thailand for its hosting arrangements.
The agreement was signed in the presence of World Bank Group President Ajay Banga, IMF Managing Director Kristalina Georgieva, UAE Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini, and Central Bank of the UAE Governor Khaled Mohamed Balama.
The 2029 gathering will mark the return of the World Bank-IMF Annual Meetings to the UAE after Dubai hosted the event in 2003. Abu Dhabi is expected to welcome policymakers, financial experts, bankers, academics and representatives of civil society from around the world.
Speaking at the signing ceremony, World Bank Group President Ajay Banga praised the UAE’s hospitality, open capital markets and significant economic transformation over recent decades. He also highlighted Abu Dhabi’s contribution to knowledge on gender equity.
Banga emphasised the importance of holding the Annual Meetings outside Washington, D.C., saying such gatherings provide valuable opportunities for people from different sectors and countries to exchange ideas and discuss global economic challenges.
IMF Managing Director Kristalina Georgieva described hosting the meetings outside Washington as a memorable experience for member countries. She referred to the UAE’s vision of preparing future generations for a rapidly changing world and expressed confidence that Abu Dhabi would deliver a successful international gathering in 2029.
Georgieva also praised Thailand for its arrangements for the current Annual Meetings, commending the country’s preparation, dedication, cultural programmes and hospitality. She said Thailand had established a high standard for future hosts, while expressing confidence that Abu Dhabi would offer its own distinctive experience.
UAE officials welcomed the opportunity to host the meetings, describing it as recognition of the country’s leadership vision, economic strength and expanding position as a global financial centre.
The discussions also highlighted the importance of mobilising private-sector capital alongside public financing and philanthropic resources to support development in emerging markets. Greater private investment is considered important for expanding economic opportunities, strengthening infrastructure and supporting sustainable growth.
The 2029 Annual Meetings in Abu Dhabi are expected to provide an important platform for international dialogue on economic growth, financial stability, investment and development cooperation. The selection also highlights the continuing role of international financial institutions in bringing governments and economic stakeholders together to address shared challenges.
