Kuwait Strengthens Partnerships with International Financial Institutions
Finance Minister holds meetings with officials from international financial institutions to enhance investment cooperation and develop human resources
Translated by Qiyas from الجريدة — Original source
Finance Minister Dr. Yaqoub Al-Rafai met today, Wednesday, with several senior officials from financial and international institutions as part of Kuwait’s participation in the annual meetings of the Board of Governors of the World Bank Group and the International Monetary Fund, held in Bangkok, Thailand, from October 12 to 18.
The Ministry of Finance said in a press release that Minister Al-Rafai met with Ousmane Dione, Vice President of the World Bank for the Middle East and North Africa, Afghanistan, and Pakistan, to discuss ways to enhance cooperation between Kuwait and the World Bank Group in areas such as developing the skills of national cadres, capacity building, and providing technical and advisory support.
The ministry noted that the minister emphasized during the meeting the importance of increasing the employment of Kuwaitis at the World Bank, both at its headquarters and in its affiliated offices.
It added that the meeting also referenced the encounter between His Highness the Crown Prince, Sheikh Sabah Khaled Al-Hamad Al-Sabah, representative of His Highness the Amir of Kuwait, and Ajay Banga, President of the World Bank Group, on the sidelines of the 81st session of the United Nations General Assembly in New York, and stressed the importance of building on the discussions held during that meeting and following up on the areas of cooperation addressed.
The ministry pointed out that Al-Rafai also met with Tsutomu Yamamoto, Managing Director of the Multilateral Investment Guarantee Agency (MIGA), to discuss ways to strengthen cooperation between Kuwait and the agency and to expand the scope of its guarantee and insurance services against geopolitical risks, while reaffirming the agency’s role in encouraging Kuwaiti banks and companies to expand their investments in emerging markets and developing countries.
It clarified that the meeting also discussed opportunities to expand partnerships with Kuwaiti financial institutions, particularly in the areas of trade finance guarantees and enhancing financial capacity.
Attending the meetings were Abdulaziz Al-Mulla, Executive Director at the World Bank Group, and several officials from the Ministry of Finance.
