UAE Signs Agreement with World Bank and IMF to Launch Preparations for 2029 Annual Meetings in Abu Dhabi

 

Agreement signed in Bangkok on final day of this year's gathering sets framework for Abu Dhabi event, 26 years after Dubai last hosted the meetings in 2003.

 

The United Arab Emirates, the World Bank Group, and the International Monetary Fund (IMF) signed a formal agreement in Bangkok on Sunday, officially kicking off preparations to host the 2029 Annual Meetings in Abu Dhabi.

 

The signing ceremony took place on Sunday (18 October)—the final day of the 2026 Annual Meetings hosted by Thailand. The event was attended by World Bank Group President Ajay Banga, IMF Managing Director Kristalina Georgieva, UAE Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini, and Central Bank of the UAE Governor Khaled Mohamed Balama.

 

The agreement establishes the official framework for trilateral cooperation to deliver the event, which will return to the UAE in October 2029—26 years after Dubai hosted the gathering in 2003.

 

Emphasising the scale of the task, the ceremony’s master of ceremonies noted that hosting an event of this magnitude requires "extraordinary coordination and sustained collaboration".

 

 

 

Private Capital and Rapid Transformation

Welcoming the venue choice, Banga said he was delighted that Abu Dhabi would host the next edition held outside Washington DC.

 

He praised the UAE as a location of exceptional hospitality and efficient capital flow, aligning closely with the World Bank’s ambition to mobilise private capital alongside public funds to transform emerging markets.

 

He also highlighted the UAE’s rapid development in recent decades, noting its role as a regional knowledge hub for gender equality.

 

Georgieva remarked that overseas meetings are invariably the most memorable for both institutions and participants.

 

Quoting the UAE’s late founding father, Sheikh Zayed—who observed that future generations would live in a vastly different world and must prepare accordingly—she stated that his words remain remarkably apt today.

 

Describing Abu Dhabi as a city "transforming every single day", Georgieva said it was ideal for discussions on navigating rapid global change.

 

 

 

"Thailand Has Set the Bar High"

Turning to the UAE delegation, Georgieva commended the host nation for its execution during the week in Bangkok, highlighting the country's dedication, cultural programming, and organisation.

 

"Thailand has set the bar high," she noted, adding she had no doubt Abu Dhabi would deliver a remarkable event given its energy and competitive spirit—prompting Banga to quip, "No pressure."

 

Responding on behalf of the UAE, Al Hussaini expressed pride in hosting the 2029 meetings and thanked the leadership of both financial institutions for their trust.

 

Balama described the selection as a vote of confidence in the UAE’s economic model and its proven capacity to convene global financial leaders, noting that Abu Dhabi is rapidly establishing itself as a premier global financial hub.

 

 

A Light-Hearted Conclusion

The ceremony concluded on a playful note as the principals gathered to sign the documents. Georgieva joked that by 2029, there would be "enough agentic AIs working in the background", and perhaps even robots.

 

A delegate joined in, remarking that while machines handled the work, attendees could enjoy the event, adding, "We will tax the humanoids and the robots." The signatories then held up their folders for photographers, with Georgieva declaring, "Abu Dhabi, we are coming," before taking the official commemorative photograph.

 

The Annual Meetings—which bring together finance ministers, central bank governors, private sector executives, and civil society representatives—rotate between Washington DC and member countries every three years. Thailand's 2026 meetings drew nearly 20,000 delegates, according to official Thai figures.