UAE signs deal to host 2029 World Bank and IMF meetings in Abu Dhabi

Agreement signed

The UAE has formally signed the agreement to host the 2029 annual meetings of the World Bank and the International Monetary Fund in Abu Dhabi.

The deal was concluded at the end of the IMF and World Bank 2026 annual meetings in Thailand, and the UAE Ministry of Finance said in a statement on Sunday that it reflects growing international confidence in the country’s economic and financial ecosystem.

Significance and statements

The formal pact reinforces the stature of the UAE, the Arab world’s second‑largest economy, as a global financial hub that helps shape the stability and future of the worldwide economic system.

Mohamed bin Hadi Al Hussaini, Minister of State for Financial Affairs, and Khaled Balama, governor of the Central Bank of the UAE, signed the agreement in Bangkok alongside World Bank president Ajay Banga and IMF managing director Kristalina Georgieva.

Al Hussaini said the signing marks a significant milestone, reflecting confidence in the UAE’s readiness, the efficiency of its infrastructure and financial system, and its ability to host major international events of strategic importance.

He added that hosting the event will give global financial leaders and decision‑makers a platform to explore how to advance the financial and monetary stability agenda and to build development finance.

Historical context and event details

The UAE’s selection builds on its track record of hosting major economic events; the summit is scheduled for October 2029 and will mark the return of the key event to the Emirates after more than a quarter‑century, following Dubai’s hosting in 2003.

Participation in the annual meetings has continued to grow, with more than 10,000 in‑person and virtual attendees at each gathering. Country‑group meetings, civil society forums and press conferences with the World Bank president and the IMF managing director are also held, closely watched by financial experts and policymakers from around the world.

The World Bank‑IMF annual meetings are traditionally held at their headquarters in Washington DC, and every third year a member country is selected to host them. London was the first city outside the United States to host the meetings in 1947, while the UAE and Turkey remain the only Middle Eastern countries to have done so.

Comments from international leaders

Ajay Banga of the World Bank Group said the UAE has built institutions and infrastructure with a spirit of bold ambition and partnership, cementing its role as a global hub for economic dialogue.

He added that Abu Dhabi is a fitting host for the annual meetings where the focus is on development impact, and on delivering jobs, growth and financing at scale.

Kristalina Georgieva of the IMF said the UAE has become an important hub for ideas, finance, innovation and international cooperation.

She noted that the 2029 meeting in Abu Dhabi will provide an opportunity to discuss the challenges and opportunities ahead and help shape a better future.