UAE hosts BRICS Finance Track Meeting on Public-Private Partnerships and Infrastructure
7 May 2025 15:02
ABU DHABI (WAM)The UAE, represented by the Ministry of Finance (MoF), has hosted the first-ever BRICS event in the country, the BRICS Finance Track Working Group Taskforce on Public-Private Partnership and Infrastructure (TFPPPI).The meeting, held from May 5-6 in Abu Dhabi, brought together senior government officials, international experts, representatives of global financial institutions, and private sector leaders.As part of the meeting, the Ministry of Finance organised a high-level seminar titled "A New Era of Growth: Reimagining Infrastructure Financing in BRICS Countries", exploring ways to develop innovative mechanisms for financing infrastructure projects and expand public-private partnerships.In addition, the visiting delegation toured Masdar City, where participants were briefed on leading public-private partnership projects in the UAE across various sectors, including energy, sustainability, and transport, showcasing the country's commitment to implementing effective and innovative solutions in infrastructure development and financing.The event was attended by Younis Haji AlKhoori, Undersecretary of the Ministry of Finance; Antonio Freitas, Undersecretary for International Affairs, Brazil Ministry of Finance; Ambassador Tatiana Rosito, Secretary for International Affairs at the Brazilian Ministry of Finance; and Sidney Leon Romero, Brazilian Ambassador to the UAE.Younis Haji AlKhoori emphasised that hosting this high-profile event along with its accompanying seminar showcases the UAE's growing role as a trusted partner in shaping the future of global economic cooperation and redefining infrastructure financing in collaboration with the private sector, ensuring alignment with both sustainable development priorities and the dynamic requirements of tomorrow's economy.He said, 'Strengthening partnerships between the public and private sectors is a top priority for the UAE's vision, aimed at promoting sustainable growth. We are committed to adopting flexible and innovative financing models that not only facilitate the implementation of strategic projects in key sectors such as education, healthcare, clean energy, and transportation but also ensure that these investments yield both financial returns and lasting societal and environmental benefits.'He concluded by saying, 'Through these meetings, we look forward to establishing a sustainable platform for exchanging expertise between BRICS countries and their partner nations while strengthening the role of the private sector in driving economic transformation. This is especially crucial in light of growing global challenges that demand broader international coordination and more comprehensive and innovative financing strategies.'For her part, Ambassador Tatiana Rosito said, "On behalf of the Brazilian Presidency of BRICS, I would like to extend my heartfelt thanks to all those who participated in this seminar. I would also like to reiterate our deep appreciation for the vital support and constructive partnership extended by the Government of the United Arab Emirates. I am confident that this seminar will further strengthen our cooperation and enable us to advance our shared goal of financing high-quality and impactful infrastructure projects across our countries.This Task Force meeting on Public-Private Partnerships and infrastructure holds symbolic significance, reflecting our collective aspiration to deepen ties among BRICS nations. Beyond the exchange of knowledge, its true value lies in fostering stronger bilateral and multilateral relations, and in identifying new opportunities for collaboration among all our countries."Ahmed Baghoum, Chief Executive Officer of Masdar City, noted, 'The visit by the BRICS delegation to Masdar City is a testament to our growing global reputation as a leading hub for developing sustainable and innovative development projects through the public-private partnership (PPP) model.We were honoured to highlight several of our flagship initiatives, including the regional headquarters of Siemens Energy, the headquarters of the International Renewable Energy Agency (IRENA), and the Mohamed bin Zayed University of Artificial Intelligence. We also briefed the guests on the Masdar City Free Zone, which hosts over 1,500 companies operating in clean tech, AI, and renewable energy.More than just milestones in urban development, these projects reflect the UAE's commitment to embracing advanced solutions in financing and delivering infrastructure projects. At Masdar City, we firmly believe that global cooperation is key to accelerating sustainable development and achieving a balance between economic viability and social impact.'The seminar featured a series of dialogue sessions that addressed key challenges and opportunities in the field of infrastructure project financing, highlighting BRICS countries' experiences and global best practices.The sessions covered a wide range of topics, including innovative financing models for social infrastructure projects such as housing, healthcare, and education.The seminar also touched on blended finance for climate-resilient infrastructure, with discussions also highlighting best practices in project structuring and preparation, investment challenges, alternatives to mitigate risks and the role of insurers.
The second day was dedicated to in-depth discussions on government and industry perspectives: policy and implementation challenges, in addition to exploring the future of PPPs and infrastructure investment in light of evolving economic and technological landscapes.
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