The Asian Infrastructure Investment Bank (AIIB) has opened its first overseas office in Abu Dhabi, the capital of the United Arab Emirates.
According to the Beijing-based multilateral development bank, the UAE is one of the fastest-growing economies in the Middle East and is actively promoting green energy transition and expansion of sustainable infrastructure.
The new office will bring the bank “closer to the front lines of its sustainable development work in the Middle East and Africa and lays the groundwork for future regional projects”, the AIIB says in a statement on September 20.
Luky Eko Wuryanto, vice president and chief administration officer at the bank, describes the move as a “milestone” that “reinforces our commitment to strengthen regional partnerships, promote sustainable development and support infrastructure projects” in member countries.
Established in 2016, the AIIB has 106 member countries.