LOC19:48
16:48 GMT
RIYADH, Sept 22 (KUNA) -- The World Bank Group announced on Monday the establishment of a Regional Hub for Middle East, North Africa, Afghanistan and Pakistan (MENAAP) in Riyadh, capital of Saudi Arabia.
The Riyadh hub will be co-located with the World Bank Group's Gulf Cooperation Council (GCC) regional office, according to a statement from the Bank.
It brings the World Bank's leadership closer to country teams, clients and regional partners.
The MENAAP's regional Vice President and regional practice directors have relocated to Riyadh, marking a new chapter in the World Bank's operational footprint, the statement noted.
Riyadh is not only a gateway to the region's transformation, but also a powerful platform for global knowledge exchange and policy innovation, said MENAAP's Vice President Ousmane Dione.
It is especially meaningful to mark this relocation on Saudi National Day, a moment that celebrates the Kingdom's transformation and its growing role as a global convener of development knowledge, noted Dione.
This milestone aligns with the 50th anniversary of technical cooperation between the World Bank and the Kingdom of Saudi Arabia, as the Bank has supported major reforms in key sectors through advisory services, technical assistance, and capacity development over the past five decades.
Recently, World Bank Group and Saudi Arabic launched a new global Knowledge Hub in Riyadh to facilitate regional and global knowledge exchange, joint research, and capacity-building initiatives aimed at advancing global development impact. (end)
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