AIIB opens first overseas office in Abu Dhabi

Category : International Published on: April 24 2023

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The Asian Infrastructure Investment Bank (AIIB) has opened its first overseas office in Abu Dhabi, the Interim Operation Hub.
Jin Liqun, AIIB president and board chairman, and Sultan Al Jaber, minister of industry and advanced technology and AIIB United Arab Emirates governor, signed a host member agreement to officially open the Hub.
The Hub will support AIIB’s development agenda and financing of infrastructure projects to achieve sustainable economic growth.
As the host country for COP28 later this year, the UAE has emphasized the importance of climate finance, a key concern for nations as they strive to increase their efforts and commitments towards climate action.
AIIB is a multilateral development bank that was established in 2016 with the goal of financing infrastructure projects in Asia and beyond.
The bank is headquartered in Beijing, China, and has over 100 member countries, including several major economies such as the United Kingdom, Germany, and Australia.
AIIB’s mission is to foster sustainable economic growth, create wealth and improve infrastructure connectivity in Asia by investing in infrastructure and other productive sectors.