World Bank Signs Agreement with Kuwait to Establish A Country Office in Kuwait

Contacts:

In Washington: Dina El Naggar (202) 473-3245

delnaggar@worldbank.org

 

WASHINGTON, September 16, 2008- In an official ceremony held at the World Bank Headquarters, H.E. Sheikh Nasser Mohammed Al-Ahmed Al-Sabah, Prime Minister of Kuwait and Mr. Robert Zoellick World Bank President witnessed the signing of an Agreement establishing a World Bank office in Kuwait.  The Agreement was signed by World Bank Managing Director Juan Jose Daboub and the Kuwaiti Minister of Finance Mustafa Al-Shamali.  The new office marks the strengthening of a strategic partnership between the institution and Kuwait.

 

“Kuwait is an important shareholder of the Bank and a close development partner.  We are strongly committed to ensuring that our program of services is responsive, relevant and well-managed to support Kuwait’s economic development agenda.  We also expect to coordinate more closely with Kuwaiti institutions and the private sector to better support the development efforts in  other countries. This new phase in our relationship reflects a mutual desire to continue to deepen our relationship and demonstrates President Zoellick’s commitment to the Arab World.” said World Bank Managing Director Juan Jose Daboub, following the signing ceremony.

 

Kuwait has been a strong supporter of international development, having increased its IDA commitment and made a generous contribution to the West Bank and Gaza Trust Fund managed by the World Bank.  The World Bank President expressed his appreciation to the Kuwaiti Prime Minister for Kuwait’s overall role in development assistance.

 

The World Bank’s office in Kuwait will provide oversight for the Bank’s technical and advisory services provided on a fee basis to Kuwaiti institutions.  For almost thirty years, Kuwait has found World Bank development expertise helpful in its efforts to improve the quality of education, advance effective public sector management, diversify its economy and encourage private sector development. “The Country Office represents a new phase where our program of advisory services will be more strategic and developed in closer partnership with the Government,” said Daniela Gressani, Regional Vice President of the Middle East and North Africa Region. “We are pleased that the Government values our objective professional analysis and advice,” added Joseph Saba, Director of the Department for Strategic Cooperation in the MNA Region.

 

For more information on the World Bank program in the Middle East and North Africa Region, please contact Dina Elnaggar.