Saudi Arabia and World Bank Group to Establish Knowledge Hub in Partnership
In a groundbreaking announcement made in Washington DC, Saudi Arabia and the World Bank Group have joined forces to establish a knowledge hub that will serve as a platform for sharing the Kingdom’s expertise in economic reform and improving global competitiveness.
Led by the National Competitiveness Center (NCC) of Saudi Arabia, the new knowledge center aims to facilitate collaborations with other countries seeking to enhance their economic standings on a regional and global scale. This initiative is a testament to the Kingdom’s significant progress in global competitiveness reports and indicators, a feat made possible by the leadership of Crown Prince Mohammed bin Salman, as highlighted by Saudi Minister of Commerce Majid Al-Qasabi.
The announcement event was attended by key figures such as Saudi ambassador to the US, Princess Reema bint Bandar, President of the World Bank Group Ajay Banga, and Chief Economist of the World Bank Group Intermit Gill. The hub, currently in its preparatory stage, will be overseen by a founding committee comprising ministries of finance, economy, planning, and other relevant government agencies.