UAE signs agreements with IMF to support PRGT and RST funds

The Ministry of Finance announced that the UAE has signed two agreements with the International Monetary Fund (IMF) to contribute to the financing of the Poverty Reduction and Growth Trust (PRGT) and the Resilience and Sustainability Trust Fund (RST). The signing took place on the sidelines of the annual meetings of the World Bank Group and the IMF in Washington, DC, where the UAE is participating until October 26.

The UAE delegation, led by Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, includes top officials from the Central Bank and the Ministry of Finance, such as Ibrahim Al Zaabi, Assistant Governor of the Monetary Policy and Stability Department at the Central Bank of the UAE, and Ahmed Al Qamzi, Assistant Governor for Banking and Insurance Supervision.

This is in addition to Ali Abdullah Sharafi, Acting Assistant Undersecretary for International Financial Relations at the Ministry of Finance, Hamad Essa Al Zaabi, Director of the Office of the Minister of State for Financial Affairs, and Thuraya Hamed Al Hashemi, Acting Director of Relations and International Financial Organisations at the Ministry as well as a number of specialists.

Mohamed Bin Hadi Al Hussaini stated: “Our participation in the annual meetings of the World Bank Group and the International Monetary Fund brought together global economic and financial leaders, offering a valuable platform for exchanging ideas and strategies to tackle pressing global economic challenges.

“We are pleased to announce the signing of two agreements with the IMF to support the Resilience and Sustainability Trust Fund and the Poverty Reduction and Growth Trust Fund. This move reaffirms the UAE’s commitment to supporting international efforts aimed at sustainable development, poverty eradication, and strengthening the resilience of developing economies in the face of global challenges, further solidifying our leading role in promoting global financial and economic stability,” Al Hussaini added.