President Of New Development Bank Describes UAE As A ‘Prime Example Of An Economic Miracle’

The UAE is a “prime example of an economic miracle,” according to Marcos Troyjo, President of the New Development Bank, who spoke at the fourth edition of the Global Business Forum Latin America (GBF LATAM) 2022, which kicked off earlier today in Dubai.

In a session titled ‘New Priorities for the Post-Covid World, ’Troyjo explored the key areas of reform that are necessary to combat the challenges of income inequality and poor health and education provision facing Latin American and Caribbean countries, and the role that trade with markets like UAE can play in advancing those priorities.

“One of the most dynamic frontiers for infrastructure investment over the next decade will take place in Latin America,” asserted Troyjo. “It’s only natural that economies such as the UAE will have its eyes set on those dynamic prospects.”

He noted that the World Development Bank is tasked with mobilising resources for infrastructure and sustainable development projects in Brazil, Russia, India, China and South Africa (BRICS), as well as other emerging economies and developing countries. The organisation recently welcomed the UAE as its latest member, in line with its commitment towards global growth and development and in recognition of the country’s commendable capabilities and expertise in supporting infrastructure projects and sustainable development.The membership facilitates a new platform to foster cooperation in infrastructure and sustainable development with BRICS and upcoming new members.

Held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, GBF LATAM 2022is organised by Dubai Chamber of Commerce in partnership with Expo 2020. The event bears the theme Towards a Resilient Future and supports Dubai Chamber of Commerce’s flagship Global Business Forum series. GBF LATAM 2022 is the third forum of its kind to be held during Expo 2020 Dubai, with GBF Africa held in October and the first-ever GBF ASEAN hosted in December.