Bahrain hails World Bank’s key role in global economic growth

Agencies | Marrakesh                                             

The Daily Tribune – www.newsofbahrain.com

Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa emphasised the vital role played by the World Bank in addressing diverse economic challenges to promote further development and growth for the global economy.

He commended the World Bank’s new vision, which aims to reduce poverty worldwide and enhance efforts for shared prosperity, social development, and environmental aspirations.

The minister made these remarks during his statement at the 108th meeting of the Development Committee on behalf of the Arab Group and the Maldives, representing the Kingdom of Bahrain.

The meeting took place during the annual gathering of the World Bank and the International Monetary Fund in Marrakesh, Morocco. Shaikh Salman highlighted the World Bank Group’s contribution in finding solutions for food and energy sectors, digital capabilities, environmental preservation, and global economic recovery.

He also welcomed the increased financing capacity of the World Bank Group to support development needs and sustainable development goals. The minister emphasised the significance of innovative solutions that optimise resource utilisation, foster human capital development, stimulate private sector investments, and provide suitable financing and regulatory frameworks for growth.

He stressed the importance of strengthening cooperation between the public and private sectors, multilateral development banks, international organisations, and civil society to tackle various challenges, including climate change.