Al-Badr: Kuwait Fund Continues Efforts to Meet Development Needs
Kuwait Fund's participation to strengthen international cooperation and discuss economic challenges.
Translated by Qiyas from النهار — Original source
The Kuwait Fund for Arab Economic Development participated in the plenary session of 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. Rashid Al-Badr, Acting Managing Director of the Kuwait Fund and head of the delegation, told KUNA that the Fund’s participation in the World Bank and IMF annual meetings reflects its commitment to strengthening cooperation with regional and international development and financial institutions. He added that the participation also aims to exchange views on the most prominent economic and development challenges facing the world and to explore partnership opportunities that contribute to supporting sustainable development efforts and achieving tangible developmental impact in beneficiary countries.
He emphasized that the Fund continues its efforts to keep pace with the requirements of the upcoming development phase by adopting effective and flexible strategies that align with the rapid changes in the global economy, thereby enhancing its capacity to respond to emerging development challenges and contribute to sustainable economic growth.
The statement noted that the session addressed the most prominent challenges facing the global economy, including the repercussions of energy shocks, geopolitical tensions, rising sovereign debt burdens, and their impact on the resources of developing countries and their ability to create jobs, as well as opportunities to leverage artificial intelligence investments to accelerate digital development while considering associated economic risks.
It pointed out that the Fund’s participation in the World Bank and IMF meetings reflects its commitment to strengthening its presence at international forums and consolidating its relationships and partnerships with sister and friendly countries, as well as regional and international financial and development institutions, in line with its objectives and mission to support sustainable development efforts.
The statement added that these meetings attract wide participation from finance ministers, central bank governors, and heads of United Nations organizations and financial institutions worldwide, to discuss major global economic issues, international development, climate change, health systems, as well as issues of international peace and security in conflict and crisis zones.
