Finance Minister Attends Meeting of Arab Governors with World Bank Group President

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, His Excellency Minister of Finance Dr. Yaqoob Al-Sayed Yousef Al-Rafai attended the meeting of Arab Governors with the President of the World Bank Group, Mr. Ajay Banga.

The meeting discussed a number of economic and developmental issues of priority for Arab countries, foremost among them supporting growth and job creation, enhancing the resilience of economies to recover and face challenges, as well as mobilizing private sector investments to contribute to financing development and reconstruction efforts.

The meeting also addressed the importance of increasing investments in energy, water, food security, and digital infrastructure sectors, and strengthening regional connectivity, which would contribute to boosting productivity, supporting growth, and creating jobs, alongside supporting small and medium-sized enterprises and enhancing their role in economic activity.

Furthermore, the meeting discussed ways to leverage digital transformation and artificial intelligence, and to develop human capital, through the development of accessible and flexible digital infrastructure, enhancing countries’ readiness to adopt AI applications and digital technologies, and developing training, qualification, and skills programs aligned with the changing needs of the labor market, with a focus on empowering youth and women to benefit from emerging economic opportunities.

During his intervention at the meeting, His Excellency the Minister of Finance emphasized the importance of strengthening cooperation with the World Bank Group to support sustainable economic growth in the Middle East and North Africa region, noting that economic diversification, enhancing the role of the private sector, improving the business environment, and digital transformation are key priorities for the State of Kuwait.

He also highlighted the importance of investing in infrastructure and human capital, supporting innovation, entrepreneurship, and job creation, particularly for youth, while commending the World Bank Group’s efforts in supporting economic reforms, stimulating investment, and enhancing competitiveness. He reaffirmed Kuwait’s commitment to continuing partnership and cooperation to contribute to achieving development and prosperity for the countries of the region.

In a related context, Arab Governors discussed the importance of enhancing the representation of Arab professionals within the World Bank Group, particularly at managerial and leadership levels, and expanding opportunities for professional development and access to decision-making positions for Arab talent, in line with the principles of meritocracy, diversity, and geographic representation.

Kuwait’s participation in this meeting comes in the context of its keenness to strengthen cooperation with the World Bank Group and international financial and development institutions, and to support efforts aimed at achieving sustainable development, enhancing the resilience of Arab economies, and creating a more attractive environment for investment, growth, and job creation.