WASHINGTON, Oct 15 (KUNA) -- Minister of Electricity, Water and Renewable Energy, and Acting Minister of Finance and Minister of State for Economic and Investment Affairs Sabeeh Al-Mukhaizeem took part on Wednesday in the joint meeting between President of the World Bank Group (WBG) Ajay Banga and the Arab Governors at the group.
The meeting discussed some issues topping Arab countries' priorities like rebuilding and recovery in in post-conflict countries, and achieving balance in climate financing between adaptation and mitigation..
The conferees also focused on support by WBG to integrate digital transformation in the strategies of labor markets to prepare workforce for future jobs.
On labor markets, Banga said in the next ten years, about 1.2 billion youth will join these markets, and this requires providing job opportunities to them.
Banga asserted that 90 percent of jobs created by private sector, and other main sectors like infrastructure, healthcare and more also provide jobs to youth.
The meeting further touched upon the rebuilding of Gaza evaluated at USD 53 billion, according to the WBG estimation.
It welcomed the return of Syria as a World Bank active member after settling its financial arrears to the institution.
The conferees demanded diversification and inclusiveness inside the WBG through increasing representation of Arab efficiencies on different levels.
The meeting came on the sidelines of Kuwait's participation in the annual meetings of the international financial institutions of the Boards of Governors of the WBG and the International Monetary Fund taking place in Washington from October 14 to 18. (end) amm.hm