The UAE’s Ministry of Finance recently hosted the country’s first-ever BRICS event, the BRICS Finance Track Working Group Taskforce on Public-Private Partnership and Infrastructure (TFPPPI). The meeting, held from May 5 to 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 organized a high-level seminar titled “A New Era of Growth: Reimagining Infrastructure Financing in BRICS Countries”, where it explored ways to develop innovative mechanisms for financing infrastructure projects and expand public-private partnerships.
On the sidelines of the BRICS meeting, 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.
UAE expands role in BRICS
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.
For his part, AlKhoori emphasised that hosting this high-profile BRICS 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.
“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,” stated AlKhoori.
Advancing private sector’s role in economic transformation
AlKhoori added that through these meetings, the UAE aims to establish 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. AlKhoori added that this is especially crucial in light of growing global challenges that demand broader international coordination and more comprehensive and innovative financing strategies.
“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,” commented Ambassador Tatiana Rosito.
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Infrastructure financing challenges and opportunities in focus
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 also covered a wide range of topics, including innovative financing models for social infrastructure projects such as housing, healthcare and education.
Furthermore, it 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 of the meeting held 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.
