H.E. Obaid Humaid Al Tayer leads UAE delegation to the IMF and World Bank meetings in Istanbul

At the meeting, H.E. Obaid Humaid Al Tayer, Minister of State for Financial Affairs, will lead UAE's high-level delegation comprising H.E. Sultan Nasser Al Suwaidi, Governor of the UAE Central Bank, Dr. Omar Mohammed Ahmed bin Sulaiman, Governor of the DIFC, H.E. Younis Haji Khoori, Director General of the Ministry of Finance, H.E. Khalid Al Bustani, Executive Director of International Financial Relations, H.E. Mohammed bin Sultan Al Hameli, Executive Director of Department of Finance in Abu Dhabi, and H.E. Abdulrahman Saleh Al Saleh, Director General of Dubai's Department of Finance.

Other members include, Hamad Al Zaabi, Director in the Office of the Minister of State for Financial Affairs, Ali Hamdan Ahmed, Director of Regional and International Financial Organizations and Dr. Hamid Nasr, an expert economist in the Ministry.

The meeting, being held amid the global financial crisis, is expected to attract about 13,000 people. Governors of central banks and finance ministers attending the forum will discuss various economic issues, including the current financial crisis and its economic implications on different countries and the decisions taken at the G20 meeting in Pittsburgh related to the reforming of the global financial system.

Commenting on the participation, H.E. Obaid Humaid Al Tayer, Minister of State for Financial Affairs said that the UAE's involvement is in accordance with the directives of H.H. Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates, and active interest by H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President Prime Minister Ruler of Dubai, may Allah protect them, aimed at strengthening the role of the UAE at international forums and sharing experiences, especially in the wake of the current economic conditions that require cooperation between nations.

H.E. Al Tayer added that a number of meetings were scheduled with participating delegates to discuss steps for developing and strengthening economic cooperation between the UAE and other states. The move will highlight the growth of the UAE economy and valuable investment opportunities it offers. It will also reflect the solidity and strength of the economy which remained intact during the current crisis.

H.E Obaid Humaid Al Tayer, will also discuss with the Arab finance ministers at their meeting with the President of the World Bank, some of the proposals submitted by Arab finance ministers to the World Bank, which includes discussion of the assistance provided by the World Bank Group to the Arab countries, and the Arab initiative presented by the President of the Bank in 2007, which aims to stimulate development through regional and international integration, the discussion will also go through the role of international institutions in this regard. Participants will also discuss increasing the technical assistance helps in developing the countries, and increasing private initiatives in the Middle East and North Africa.

He will also hold talks with finance ministers from several countries aimed at strengthening economic cooperation and trade.

H.E. Al Tayer commended the role played by the IMF and World Bank in improving the performance of the global economy. He also praised the international forums which create a positive atmosphere for communication between international economic blocs, encouraging dialogue between countries to promote economic ties.

The United Arab Emirates hosts the Regional Office for the International Finance Corporation, a subsidiary of the World Bank, in Dubai, in line with the state policy aiming at strengthening international cooperation in all fields, in order to activate the Bank Group activities in the Middle East and North Africa. This office is the largest center for the International Finance Corporation after the main center in Washington.