The United Arab Emirates Ministry of Finance said it participated in the 11th Annual Meeting of the Board of Governors of the New Development Bank in Moscow, where UAE officials reaffirmed support for stronger economic and development cooperation within the BRICS framework and for the bank’s role in financing sustainable development as technological change reshapes development needs. In remarks at the meeting, Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini said the evolving global environment requires closer integration between development finance and long-term economic strategies, alongside financing models that are more efficient and responsive to changing priorities. Ali Abdullah Sharafi, Assistant Undersecretary for International Financial Relations, linked that position to support for open, rules-based trade, broader representation for emerging markets and developing economies, and greater use of technologies including artificial intelligence. The meeting agenda also covered artificial intelligence in finance, virtual asset markets, multilateral financing of innovation, and investment in technology companies, while discussions highlighted capacity and funding constraints that limit emerging markets’ ability to benefit fully from technological transformation.

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