The World Bank Group has chosen Kingdom of Saudi Arabia (KSA) to be a knowledge center, in order to spread the culture of economic reforms globally.
This move is part of both sides’ efforts to spread the culture of economic reforms globally.
The announcement was made in Washington on Friday, April 19, with the participation of Saudi Minister of Commerce Majid Al-Qasabi, Princess Reema bint Bandar, Saudi Ambassador to the United States, President of the World Bank Group Ajay Banga, and Chief Economist of the World Bank Group Indermeet Gill.
Majid Al-Qasabi said that the knowledge center to be established paves the way for more regional and global cooperation in the areas of competitiveness, the Saudi Press Agency (SPA) reported.
He added that establishing a knowledge centre would pave the way for further regional and global cooperation in competitiveness. It will allow the Kingdom to benefit from its experience in implementing economic reforms and their impact on enhancing its competitiveness, in addition to the World Bank’s expertise that extends for more than 50 years.
The World Bank chose the Kingdom as a global knowledge center for economic reforms due to its successful implementation over the past seven years.
This integrated business model boosted commitment and effectiveness, benefiting other countries seeking to enhance competitive capabilities.
