The Ministry of Finance of the United Arab Emirates has announced that it has participated on behalf of the UAE in the 9th annual meeting of the Board of Governors of the New Development Bank (NDB) for the BRICS countries.

According to Amac News: The UAE Ministry of Finance announced that the meeting was held on August 30 in Cape Town, South Africa with the theme of "Investing in a sustainable future".
The agenda of the meeting included presentations on innovative financial systems for sustainable development and the sustainable investment landscape.
In this session, meetings were held with leaders, decision makers and business professionals who discussed ways to increase investment for a sustainable future.
In this meeting, the importance of accelerating global sustainable investment and taking necessary measures to ensure a sustainable future was emphasized.
It was also emphasized on the alignment with the goals of sustainable development and the Paris Agreement in 2015 on climate change, focusing on the financing of sustainable development projects and the exchange of best practices.
The audience included NDB governors, NDB directors, representatives of member states, financial institutions, private sector leaders, civil society organizations, and non-governmental organizations.
The sessions discussed cooperative initiatives aimed at addressing critical social and environmental issues and showcased best practices for adopting new factors that support sustainable growth.
The participants expressed their commitment to develop effective cooperation methods to build a more sustainable and prosperous future.
The NDB was established by the BRICS countries following an agreement at the 6th BRICS Summit in Fortaleza, Brazil, in 2014. Headquartered in Shanghai, China, with regional offices in South Africa and India, NDB mobilizes resources through loans, securities and equity investments.
To finance infrastructure projects and sustainable development in BRICS countries, other emerging economies and developing countries. It complements the efforts of other multilateral financial institutions in global development and supports collective commitments to strong, sustainable and balanced growth.
Since its inception, the NDB has approved more than 90 projects with a total value of approximately $33 billion, covering sectors such as transportation, water and sanitation, digital and social infrastructure, and clean energy.