India: Mr. Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, has headed the UAE delegation participating in the first G20 finance ministers and central bank governors (FMCBG) meeting in 2023.
The meeting held in Bengaluru discussed the progress made under the G20 priorities set by the Indian presidency for the year 2023, in light of global challenges and strengthening international cooperation.
The UAE delegation included Mr. Younis Haji Al Khoori, Undersecretary of Ministry of Finance, Mr. Ebrahim Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at the Central Bank of the UAE, Mr. Hamad Al Zaabi, Director of the Office Minister of State for Financial Affairs, Ms. Thuraiya AlHashmi, Director of International Tax Department at the Ministry of Finance and Mr. Fares AlKaabi, Senior Analyst, Research and Statistics Department.
Mr. Al Hussaini reiterated the relevance of internationally coordinated multilateral action to encourage climate finance, as well as enhancing joint international action to set goals and strategies to achieve the best means of financing and investments needed to tackle climate change and mitigate its repercussions.
“We have leveraged private sector participation in the development of smart cities through collaborative models that incentivise private sector involvement in areas such as clean energy, green buildings and ICT infrastructure development, which we believe to be all critical enablers for the future cities of tomorrow,” the minister commented.
“The UAE’s economy continues to withstand global effects, where we expect to achieve 4.2 pervcent of non-oil economic growth by the end of this year. On a global scale, there remains an immediate need for policy coordination to minimise vulnerabilities and promote food and energy security,” Mr. Al Hussaini added.