HomeEconomyMohamed Al Hussaini elected Chairman of Development Committee of WBG
By Economy Middle East
October 17, 2022 10:53 am

Mohamed Al Hussaini elected Chairman of Development Committee of WBG

Hussaini will manage committee's programs related to economic development
Mohamed Al Hussaini
Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs (Image credit: WAM)

Mohamed Hadi Al Hussaini, UAE’s Minister of State for Financial Affairs, has been elected as Chairman of the Development Committee (DC) of the World Bank Group (WBG) and the International Monetary Fund (IMF), which aims to achieve international cooperation and consensus on issues related to development. The DC is a joint ministerial committee of the Boards of Governors of the Bank and the Fund.

During his two-year tenure, the minister will work with the committee’s members that include ministers, and the Board of Governors of the WBG and IMF to complete and manage the committee’s programs related to sustainable and comprehensive economic development, in order to build and develop the economies of developing countries.

The committee comprises 25 members from the finance or development ministries that are members of the WBG and the IMF.

Moreover, the committee is mandated to address a wide range of issues, including, but not limited to, the role of the IMF and WBG, in confronting future crises, digitalization, the green economy, trade, industrial policies, and poverty.