World Bank regional hub in Riyadh to serve many countries including Pakistan
The World Bank has launched a new regional hub
in Riyadh to serve the Middle East, North Africa, Afghanistan, and Pakistan, strengthening
its regional presence.
The hub will be co-located with the World Bank Group’s Gulf Cooperation Council office, bringing leadership closer to country teams, clients, and regional partners. The move also highlights growing ties between the World Bank and Saudi Arabia, coinciding with the 50th anniversary of their technical cooperation.
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Ousmane Dione, Vice President for the MENAAP region, said Riyadh “is a gateway to regional transformation and a platform for global knowledge exchange,” noting the opening coincides with Saudi National Day.
The hub complements recent World Bank
initiatives in the region, including a $650 million disaster management loan
for Turkiye, a $146 million grant to Syria, and $930 million in financing for
Iraq’s railway and trade development.
The development aligns with Saudi Arabia’s regional headquarters program, which offers incentives such as a 30-year corporate tax exemption and regulatory support to multinational companies.
Source: Arab News