Ministry of Finance, World Bank Group enhance financial coordination

The Ministry of Finance, in collaboration with the World Bank Group (WBG), has held a roundtable discussion to strengthen financial coordination between the health and education sectors in the presence of representatives from the Central Bank of UAE.

The sessions was opened by ministry officials, followed by a presentation by the WBG’s team led by Naoko Kojo. Fernando Blanco, a WBG economist, conducted a presentation on the financial coordination processes in the UAE along with recommendations on developing them. As part of the session, the participants had an opportunity to have their questions answered by experts and specialists from WBG.

Saeed Rashid Al Yateem, Assistant Undersecretary of the Resources and Budget Sector at MoF, stressed the importance of financial coordination between the health and education sectors on account of their significant contribution to promoting economic diversification. He said: “Effective financial coordination contributes to sound financial balance. This enables financial stability and enhances the effectiveness of government spending programmes and drives economic diversification in the UAE.”

“MoF is collaborating with the WBG on a project to strengthen financial coordination. This session aimed to share expertise and international best practices in this field. It also provided government entities with the opportunity to meet with experts and specialists in the field and discuss relevant issues at local and federal levels,” he added.