Abu Dhabi to Host Prestigious 2029 World Bank and IMF Annual Meetings

The United Arab Emirates (UAE) has officially inked an agreement to host the 2029 annual meetings of the World Bank and the International Monetary Fund (IMF) in Abu Dhabi. This significant accord was finalized following the conclusion of the 2026 annual meetings held in Thailand. The UAE Ministry of Finance stated on Sunday that this agreement signifies a growing international trust in the UAE's robust economic and financial infrastructure. Furthermore, hosting these pivotal meetings underscores the UAE's standing as the Arab world's second-largest economy and a burgeoning global financial hub, actively contributing to the stability and future trajectory of the international economic system.

The formal pact was signed in Bangkok, the capital of Thailand, by Mohamed bin Hadi Al Hussaini, the UAE's Minister of State for Financial Affairs, and Khaled Balama, the governor of the Central Bank of the UAE. They were joined by World Bank president Ajay Banga and IMF managing director Kristalina Georgieva. Mr. Al Hussaini remarked, "The signing of the agreement 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 further added that the UAE's hosting of this event will offer a crucial platform for global financial leaders and decision-makers to deliberate on advancing financial and monetary stability, alongside fostering development finance.

The UAE's selection to host this global gathering builds upon its established history of successfully hosting major economic events. The summit, slated for October 2029, will mark the return of this key event to the Emirates after an interval of over twenty-five years, with Dubai having previously hosted the meetings in 2003. The annual meetings typically draw over 10,000 in-person and virtual attendees, featuring country group meetings, civil society forums, and press conferences with the World Bank president and IMF managing director, all closely monitored by financial experts and policymakers worldwide.

Traditionally held at their headquarters in Washington D.C., the World Bank-IMF annual meetings select a member country to host every third year. London was the first city outside the U.S. to host in 1947, and currently, the UAE and Turkey are the only Middle Eastern nations to have hosted these significant gatherings.

Ajay Banga, President of the World Bank Group, commented, "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. Abu Dhabi is a fitting host for the annual meetings where our focus is on development impact, and delivering jobs, growth, and financing at scale." The meetings convene finance ministers, central bank governors, policymakers, economic experts, private sector representatives, civil society members, media, and academics from over 190 countries to address the challenges and opportunities facing the global economy. During these events, the IMF and World Bank also publish their growth outlooks and financial stability reports, and discuss future policy directions aimed at supporting inclusive and sustainable development.

Kristalina Georgieva, the IMF managing director, stated, "The UAE has become an important hub for ideas, finance, innovation, and international cooperation." She added that the 2029 meeting in Abu Dhabi will serve as an opportunity to discuss "the challenges and opportunities ahead and help shape a better future."