Sheikh Mohammed okays setting up of $100 billion Asian Investment Bank office

ABU DHABI / WAM

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, chaired the UAE Cabinet meeting at Qasr Al Watan, Abu Dhabi, in the presence of HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance; HH Lt General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior; and HH Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Court.
His Highness Sheikh Mohammed bin Rashid Al Maktoum said, “In the presence of my brother the President, we presided over the swearing-in of the newly appointed ministers, wishing them success in their duties.”
He further stated, “Today, I chaired the cabinet meeting in Qasr Al Watan, Abu Dhabi, where we approved four international agreements, and the establishment of an office for the Asian Infrastructure Investment Bank (AIIB) in the country. The bank brings in 57 countries, with a starting capital of $100 billion and aims at driving investments in infrastructure to promote Asia’s accelerated development.”
His Highness added, “During the meeting, we adopted the UAE Circular Economy Policy 2031. Also, we reviewed the UAE Council for Climate Change and Environment report and its action plan for the upcoming period, to achieve UAE Net Zero by 2050.”
His Highness said, “We approved the ‘Ajyal Schools’ model which includes managing 28 government school by operators from the private sector for three years to ensure experience transfer and diversification of educational choices for parents.”