Finance Minister Meets in Bangkok World Bank Vice President for Middle East and Director General of MIGA
The Finance Minister meets with World Bank and MIGA officials in Bangkok to enhance investment cooperation.
Translated by Qiyas from كونا — Original source
Kuwait City, October 14 (KUNA) – 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 Boards 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 the importance of increasing the number of Kuwaiti nationals employed by the World Bank, both at its headquarters and in its field offices.
It added that the meeting also referenced the encounter between H.E. 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, which took place 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, expand the scope of its guarantee and insurance services against geopolitical risks, and highlight the agency’s role in encouraging Kuwaiti banks and companies to expand their investments in emerging markets and developing countries.
It noted that the meeting also explored opportunities to expand partnerships with Kuwaiti financial institutions, particularly in the areas of securing trade finance and enhancing financial capacity. The ministry highlighted that the minister emphasized the importance of expanding the agency’s role in providing appropriate guarantees and financial solutions for Kuwaiti investors, thereby boosting their confidence and supporting the diversification of their investments in international markets.
Abdulaziz Al-Mulla, Managing Director at the World Bank Group, and several officials from the Ministry of Finance attended the meetings. (End) A.K. / A.M.H.
