UAE broadens BRICS finance role at Mumbai meetings
Arabian Post Staff -Dubai The UAE has backed closer financial coordination among BRICS members and supported the New Development Bank’s next five-year strategy during high-level meetings in Mumbai, reinforcing its expanding role in multilateral development finance. The Ministry of Finance said the country took part on Thursday in the second meeting of BRICS finance ministers and central bank…
The UAE has strengthened its involvement in BRICS financial coordination during meetings in Mumbai, supporting the New Development Bank’s (NDB) five-year strategy. The Ministry of Finance participated in the second BRICS finance ministers and central bank governors meeting and a special NDB Board of Governors gathering. Led by Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini, the UAE delegation collaborated on a joint statement and discussed key issues affecting emerging and developing economies.
These included enhanced economic coordination, digital transformation, innovation, and reforms to support growth. The UAE views BRICS as vital for coordinating positions on financial and economic matters amid significant global challenges. The recent meeting also marked the launch of the BRICS-NDB Knowledge Portal, a joint platform to consolidate technical work, policy experience, and development practices from BRICS groups and the NDB.
The UAE pledges to contribute expertise and best practices to the portal. Discussions at the NDB focused on the bank’s new five-year strategy (2027-2031), with the UAE endorsing proposals for technology, digital transformation, climate finance, and women’s representation. Founded in 2015 by Brazil, Russia, India, China, and South Africa, the NDB now includes the UAE, expanding its role in financing infrastructure and sustainable development in emerging markets and developing countries.
Written by urgent.news from Arabian Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
