AIIB opens first overseas office in Abu Dhabi

The Asian Infrastructure Investment Bank (AIIB) has opened its first overseas office in Abu Dhabi, its temporary operating hub.

Jin Liqun, President and Chairman of the Board of Directors of the AIIB, and Sultan Al-Jabir, Minister of Industry and Advanced Technology and President of the United Arab Emirates, signed the host membership agreement and officially opened the hub.

Jin Liqun, President and Chairman of the Board of Directors of the AIIB, and Al Jaber, Minister of the United Arab Emirates, unveiled the AIIB’s first overseas office in Abu Dhabi at the signing ceremony.

“As a founding member of the AIIB, the UAE has actively contributed to the good governance and rapid development of the AIIB,” Kim said at the signing ceremony. “Establishing the center in the UAE provides the bank with a strong platform to manage our growing portfolio. It also enhances global client and member engagement, project monitoring and implementation services.”

For his part, Al Jaber said that the agreement to set up the AIIB’s operational office in Abu Dhabi reflects the UAE’s commitment to strengthen cooperation with international organizations and institutions focused on sustainable economic development in developing countries.

The center will support the AIIB’s development agenda and infrastructure project financing for sustainable economic growth, he added.

According to the AIIB, the hub’s proximity to global financial centers and connectivity to international infrastructure ecosystems is important to sustain the bank’s growth momentum.

Abu Dhabi Development Fund was appointed to represent the UAE on the Bank’s Board of Directors and actively participated in its regular meetings.

So far, the AIIB has approved 212 projects in 33 member countries, with a total value of more than 40 billion US dollars, contributing to the economic development of the beneficiary countries and the improvement of people’s quality of life.