Microeconomic Policies

Maasdorp, Gavin

doi:10.1057/9780230523463_5

Cited by 1 publication

(2 citation statements)

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“…Second, the UAE's financial wealth means that it will be a 'nonborrowing' member, in contrast to other new joiners. Third, with the UAE and other new joiners, credit rating agencies will lessen the penalties imposed on the NDB, which prior to its expansion, was a small club with only five members and thus a bigger concentration risk (Maasdorp, 2021).…”

Section: The Brics' Interest In the Uaementioning

confidence: 99%

“…Crucially, countries with top tier credit ratings such as the UAE can add to the bank's capital resources -a likelihood that was taken into consideration by the BRICS member states and the NDB senior management in extending membership to the UAE (Maasdorp, 2021). 'The UAE usually supports projects that have already been launched by the NDB or other MDBs,' noted Abdulqader.…”

Section: The Uae's Interest In the Ndbmentioning

confidence: 99%

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The United Arab Emirates and the New Development Bank: Mutual interests and first‐mover advantages

Cooper

Cannon

2023

Global Policy

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The United Arab Emirates (UAE) joined the BRICS‐led New Development Bank (NDB) as part of its first expansion in terms of membership. Questions regarding the interests and rationale of the UAE in joining the Bank, on the one hand, and the NDB's logic in granting membership to the UAE, on the other, immediately jump out. This article sheds light on the BRICS' cautious move away from exceptionality via the expanded NDB in the context of its membership criteria and approach. It does so by also highlighting the UAE's exceptionality, with a focus on the combination of fiscal resources and strategic geography, in the context of shifting global distributions of power. It finds that the UAE's membership in the NDB dovetails with its memberships in other MDBs, which, in turn, are part of the country's ambition to be seen as a globally influential actor. In turn, the NDB was attracted to the UAE fiscal acumen, credit rating and its carefully cultivated culture of cutting‐edge, sustainable, infrastructure and connectivity projects, as well as innovation.

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Section: The Brics' Interest In the Uaementioning

confidence: 99%

Section: The Uae's Interest In the Ndbmentioning

confidence: 99%