UAE Highlights Economic Governance and Sustainable Development at EBRD Annual Meeting in Riga
Riga, The Gulf Observer: United Arab Emirates, represented by the Ministry of Finance, is participating in the Annual Meeting of the Board of Governors of the European Bank for Reconstruction and Development (EBRD), being held in Riga, Latvia, from 5 to 7 June 2026.
The high-level gathering has brought together senior government officials, policymakers, and representatives of international financial institutions from across the globe to discuss pressing economic and development challenges. The UAE delegation is led by Ali Abdullah Sharafi, Assistant Under-Secretary for International Financial Relations at the Ministry of Finance, accompanied by a team of ministry specialists.
The UAE’s participation underscores its commitment to strengthening cooperation with international financial and development institutions, supporting global economic stability, and advancing sustainable development through multilateral partnerships.
During a specialized session titled “Advancing Economic Governance,” Sharafi delivered the UAE’s keynote address, emphasizing the far-reaching economic consequences of regional conflicts and the urgent need for enhanced international cooperation to ensure market stability, strengthen global supply chains, and improve energy and food security.
Sharafi stressed the importance of expanding EBRD support for countries most affected by global economic challenges. He called for greater use of the Bank’s financial instruments and technical expertise to accelerate renewable energy projects, diversify energy sources, and reduce vulnerability to market price fluctuations.
He further highlighted the need for close collaboration with member countries to strengthen financial and development policies, improve the effectiveness of development financing, and promote economic growth, job creation, and higher living standards.
Food security and agricultural sustainability featured prominently in his remarks. Sharafi advocated for increased technical assistance and innovative financing mechanisms to support vulnerable food systems, urging member states and the international community to deepen cooperation in addressing food-related challenges.
Addressing digital transformation, Sharafi noted that investment in digital infrastructure has become a key driver of sustainable growth and national competitiveness. He emphasized the importance of expanding high-speed telecommunications networks, cloud computing infrastructure, data centers, and emerging technologies such as artificial intelligence (AI) to foster innovation, improve government service delivery, and enhance private-sector productivity.
The three-day meeting features a comprehensive agenda focused on global economic resilience and development. Proceedings began with the official opening ceremony of the Board of Governors, followed by the adoption of the agenda and regulatory reports.
The second day included the Board of Governors’ plenary session and a series of roundtable discussions addressing major international economic issues. Key topics included the EBRD’s role in supporting economies affected by conflict, the future direction of the Bank’s activities in Ukraine, and strategies for strengthening economic governance across the institution’s countries of operation.
The UAE’s participation reflects its ongoing efforts to contribute to international dialogue on economic development and to support collaborative solutions aimed at fostering stability, resilience, and sustainable prosperity worldwide.
