The UAE has won the hosting rights for the 2029 meetings of the World Bank Group and the International Monetary Fund in the capital, Abu Dhabi, said HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, in his X post.

The meetings will take place in October 2029.

"In a global economic vote that reflects international confidence, affirms the UAE's entrenched financial status, and embodies the efficiency and capabilities of its people … the UAE has won the hosting rights for the 2029 meetings of the World Bank Group and the International Monetary Fund in the capital, Abu Dhabi.

"These global meetings, which bring together central bank governors and finance ministers from 190 countries, represent a key platform for shaping global financial stability policies and crafting the future of the international economy.

"Proud of the UAE, of its economic and financial cadres, of its growing stature, and of the world's confidence that grows more solid day by day," he said in the post.

The last time the Annual Meetings were held in the UAE was in 2003, when they took place in Dubai.

The Annual Meetings bring together central bankers, ministers of finance and development, private sector leaders, and a wide range of stakeholders across civil society, media, and academia to discuss the most pressing issues facing the global economy, including global economic financial stability, job creation, and poverty eradication.

The Annual Meetings are usually held for two consecutive years at the World Bank Group and International Monetary Fund headquarters in Washington, D.C. and every third year in one of the institutions’ member countries. The 2026 Annual Meetings will take place in Bangkok, Thailand in October, at which time there will be an official signing ceremony for the UAE to host the 2029 Meetings.

"We look forward to welcoming the UAE and the rest of our membership next week for our Spring Meetings in Washington, DC, where we will discuss the global economy, job creation, and support for countries affected by the impacts of the war in the Middle East," said a World Bank Group statement. - TradeArabia News Service