Yaqoub Al-Rafai: Enhancing Opportunities for National Talent Participation in International Financial Institutions
The Kuwaiti Finance Minister strengthens partnerships with Egypt and the World Bank, focusing on employing national talent.
Translated by Qiyas from الأنباء — Original source
As part of the State of Kuwait’s participation in the Annual Meetings of the Boards of Governors of the World Bank Group and the International Monetary Fund, held in Bangkok, Kingdom of Thailand, from October 12 to 18, 2026, Minister of Finance Dr. Yaqoub Al-Rafai met with the Minister of Foreign Affairs, International Cooperation, and Egyptians Abroad of the Arab Republic of Egypt, Dr. Badr Abdelatty, and the Minister of Planning and Economic Development, Dr. Ahmed Rustom, along with their accompanying delegation. The meeting was attended by the Kuwaiti Ambassador to the Kingdom of Thailand, Dr. Meshal Al-Mansour, and several officials from the Ministry of Finance.
During the meeting, the deep historical and fraternal ties between Kuwait and the Arab Republic of Egypt were reaffirmed, alongside both sides’ commitment to strengthening bilateral cooperation in economic, financial, and investment fields, exploring new investment opportunities, and addressing challenges facing Kuwaiti investments in Egypt.
The meeting also highlighted the importance of the work of the Kuwait-Egypt Joint High Commission in advancing bilateral cooperation in economic, trade, and investment sectors, with its next session scheduled for November of the coming year.
Dr. Al-Rafai also met with Abdulaziz Al-Mulla, Managing Director of the World Bank Group. The discussion focused on ways to enhance cooperation between Kuwait and the World Bank Group in areas such as training and capacity building for civil service personnel, improving their efficiency, and emphasizing the importance of increasing the representation of national staff within the World Bank Group. Additionally, the meeting addressed deepening the utilization of the World Bank’s local office in Kuwait.
Furthermore, Dr. Al-Rafai met with Emad Fakharany, Vice President for the Middle East and North Africa Region at the International Finance Corporation (IFC). The talks explored ways to strengthen existing cooperation between Kuwait and the IFC, and reviewed opportunities to expand partnership in areas supporting economic diversification, stimulating investment, and enhancing the role of the private sector in economic activity, in line with the State of Kuwait’s developmental goals and economic vision.
The meeting also covered the World Bank Group’s efforts to mobilize private capital, support small and medium-sized enterprises, and leverage digital technologies and artificial intelligence to boost economic growth opportunities. On his part, Dr. Al-Rafai emphasized the importance of enhancing opportunities for national talent to participate in international financial institutions and providing more professional and training opportunities for Kuwaiti youth.
