GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Government, Legal and Humanity

 
  Share

High-level panel of representatives from prominent international financial institutions discusses STI in regional development

Dubai-UAE: 12 February, 2018 –   On the opening day of the sixth edition of the World Government Summit (WGS 2018) in Dubai, a lively session with five expert panelists examined the role of science, technology and innovation (STI) in driving sustainable development and economic growth.

Part of the newly launched Global Policy Platform (GPP), the session, entitled ‘STI Catalyzing Regional Development', shed light on the role of innovation, scaled up public-private partnerships (PPPs) and tailored capacities in enabling countries to advance their development objectives.

The high-level panel featured Sayed Aqa, Vice President of the Islamic Development Bank (IsDB), Sergei Guriev, Chief Economist at the European Bank for Reconstruction and Development (EBRD), Alexander Stubb, Vice-President of the European Investment Bank (EIB), Sir Danny Alexander, Vice President and Corporate Secretary of the Asian Infrastructure Investment Bank (AIIB), and Alexandre Meira da Rosa, Vice President for Countries at the Inter-American Development Bank (IDB).

Addressing the audience, Sayed Aqa said: “This region was the hub of innovation for centuries, and it's coming back – Dubai is the perfect example”.
“STI is nothing new, but the main challenge is now to establish mechanisms, platforms and procedures for doing business more efficiently”, he said. “Many innovations in development sprout from poor communities, but due to lack of financing, they never get implemented. To better serve these initiatives, we have to shift our mindsets and adopt both top-down and bottom-up approaches to better incorporate ideas from these communities, as well as from youth and students.”

For his part, Sergei Guriev said: “As an institution working mostly in middle-income countries, we have no doubt that the only way forward is with STI – by investing in STI and education and partnering with the private sector. Even with all the capital we represent from our various institutions, we can't achieve all the goals of the 2030 Agenda alone, hence we need to scale innovations as well as partner more effectively with the private sector.”

From his perspective, Alexander Stubb observed that: “to achieve the 2030 Agenda, we currently need US$2.3 trillion. We as international financial institutions can't do it alone: we need the private sector. We have to adapt to this modern world, embrace technologies in financing, and create the proper platforms to fill the current gap in finance.”

Sir Danny Alexander added: “As financial institutions, we have a responsibility to identify the most important technologies and properly utilize them to further advance renewable energy and sustainable cities. It's not all about giving money; it's about collaborating together and incorporating innovative projects.”

For his part, Alexandre Meira da Rosa said: “STI is not here to only help execute projects. As financial institutions, we must find a way to utilize technology more effectively to help us design our projects better and serve people better.”

His Excellency Dr. Bandar M. H. Hajjar, President of the IsDB Group, delivered the closing speech. He said: “I would like to thank His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the UAE for hosting this important summit. It's a platform that surely will pave the way to the future.”

Set to become an international hub for high-level policymaking discussions, the Global Policy Platform (GPP) is an initiative of the World Government Summit.

This year's topics include trade and globalization, government innovation, FinTech, the Fourth Industrial Revolution, education, and economic policies. The GPP is organized in collaboration with the world's leading international organizations including the United Nations, the International Monetary Fund, the World Bank, the Organization for Economic Co-operation and Development, the World Trade Organization, and the World Health Organization. 

Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the World Government Summit 2018 runs from February 11 to 13 at the Madinat Jumeirah in Dubai. The landmark event convenes more than 4,000 participants from 140 countries, including heads of state and governments, as well as top-tier representatives of 16 international organizations.

Hosting more than 130 speakers across 120 interactive sessions, WGS 2018 features six distinct forums that examine the challenges of vital sectors for the future with a view to finding the best resolutions for the greater global good. Furthermore, over 20 specialized global reports spanning key sectors and topics of the summit are being launched during the event.

 



Posted by : GoDubai Editorial Team
Viewed 6966 times
Posted on : Monday, February 12, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : WGS 2018: Renowned Innovation Expert Fast Forwards Time to Showcase Glimpse of the Future
Next Story : WGS 2018: World-Renowned Author Opens Landmark Summit with Plea for Compassion and Altruism
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
The Overnight Success Podcast Brought to You by Maria Hatzistefanis
Glisten & Glow this Festive Season with Skin Republic Masks
D1 Milano Launches Exlcusive Limited Edition Collection –The Khaleeji
The Incredible Power of the Mushroom!
Beware of Cheap Beauty Deals: They May End Up Being More Costly
GaGà Milano unveils six extra-special watches to celebrate Neymar's genius
Carl F. Bucherer Celebrates Its Anniversary With the Heritage Tourbillon Double ...
8 Jours Grande Taille - a new avatar on iconic timepiece
Get Ready for The Festive Season with The Body Shop's Enchanted by Nature Gift C...
Tissot Lady Heart Flower Powermatic 80
Sukin's Top Holiday Picks for a Supple-Skin Winter Season
Switch your hair colour safely for the new season with Rahua's Color Full range
Omega Raises Its Warranty On All Watches to 5 Years
Everyday care for your baby's hair with Fifi & Friends!
Bringing you warmth and shine this festive season
Season's Greetings 2018
Twelve Holiday Gifts for the Beauty-Obsessed Woman
The Smile Bar Opens Its First Store in the UAE
Chloé Eyewear's Feminine Appeal Seen Through the Lens of the New “Rosie” Style
#MKGO Bold: Michael Kors Unveils Bold New Arrivals
Purely Pandora Classics With a Twist
Triumphant First Daman Dxb Swimfest at Jumeirah Beach Hotel
Indulge Your Love for Animal Print with M&S
Alina Anwar Couture Launches in UAE
Must-have festive Christmas jumpers and tees for the whole family
Parah dedicates its Fall/Winter 2018/19 collection to femininity
Author Dubai Abulhoul Calls for the Preservation of Emirati Folktales
Starbucks announces the return of festive favourites
New 1948 Seamaster Watches Join the Ranks
Festive Gifting Guide
Add a festive sparkle to your eyes with Palladio Beauty
Le Clos Excited About the First Daman DXB Swimfest
The Geo-Graham Orrery Tourbillon presents a galaxy you can reach out and wear Ge...
National Geographic Launches Mars 2 into Orbit with Season 2 Premiering Nov 15 ...
Give an abandoned or neglected cat their forever home at Kittysnip's adoption da...
Land Rover Supports Red Cross Disaster Projects Worldwide
‘Celebrate 2019 Now' with special deals from Al-Futtaim Toyota
Sprint for a Great Cause at Al Maha
EDCC organizes largest UAE Pavilion at debut SNSR in Saudi Arabia
Etihad Airways Launches Model Diary of Xiaowen at China International Import Expo
Department of Culture and Tourism – Abu Dhabi Organises ‘Herfaty' Programme in A...
Jameel Arts Centre, Dubai opens with an ambitious set of exhibitions and program...
Dubai Customs helps brand owners to recycle 18 m counterfeit items
Unilever MENA calls for collective action as it's revealed that 54% of consumers...
Emirates Steel signs new long-term iron ore pellet supply deal with Vale
The Sharjah Stamp Exhibition celebrates the Year of Zayed
Presenting Katrina Kaif in her hottest desi avatar as Suraiyya in Thugs of Hindostan
Top five new things to do at Golden Mile Galleria this season
IKEA Promises 25 Years of Quality Guarantee
The new BMW 8 Series Convertible.