Al-Rafai: Supporting the Private Sector a Priority

Finance Minister Dr. Yaqoub Al-Rafai affirmed that economic diversification, enhancing the role of the private sector, improving the business environment, and digital transformation are key priorities for Kuwait. Al-Rafai noted, during a meeting of Arab governors with Ajay Banga, President of the World Bank Group, on the sidelines of the Annual Meetings of the Boards of Governors of the World Bank Group and the International Monetary Fund in Bangkok, the importance of investing in infrastructure and human capital, supporting innovation and entrepreneurship, and creating job opportunities for youth. He commended the World Bank Group’s efforts in supporting economic reforms, stimulating investment, and enhancing competitiveness, while reiterating Kuwait’s commitment to continuing partnership and cooperation to contribute to the development and prosperity of countries in the region. The Ministry of Finance stated in a press release that the meeting underscores the importance of strengthening the representation of Arab professionals in the World Bank Group, particularly in managerial and leadership positions, and expanding opportunities for professional development and access of Arab talent to decision-making roles, in line with the principles of meritocracy, diversity, and geographic representation.