Contact:
In Washington : Dina El Naggar (202) 473-3245
delnaggar@worldbank.org WASHINGTON , May 2 – World Bank Group President Robert B. Zoellick today said he had listened and learned from Saudi Arabia ’s experience in meeting development challenges, in mobilizing South to South investments, and from its expertise in agricultural development. He commended the Kingdom for its economic reforms that have ranked the country as a top Doing Business Reformer in 2007. “Saudi Arabia is the largest Arab shareholder in the World Bank Group. This visit is an opportunity to continue the dialogue on how we can advance the Arab World initiative that we launched last year to address the region’s social and economic priorities,” Mr. Zoellick said after his meeting with HH King Abdullah Bin Abdul Aziz Al Saoud. “It is also a chance to work together to support agricultural development that can become part of a New Deal for Global Food Policy,” he added. Earlier this year, the World Bank Group launched consultations across the Arab World with Arab Development Funds, the Arab League, civil society, private sector and governments in a number of Arab Countries. “ Saudi Arabia’s active engagement will be needed to achieve progress on priorities identified by the Bank’s Arab shareholders such as job creation, enhancing the investment climate, improving regional trade, improving the quality of education, promoting theinclusion of women, youth and minorities, more efficient management of natural resources, and overcoming poverty. The World Bank is working closely with Saudi Arabia and other Arab countries to address these priority areas.” In Saudi Arabia , the World Bank’ Group extends policy advice on private sector development, infrastructure, development and management of water and natural resources among others. “Our cooperation program in Saudi Arabia relies on the institution’s capacity to leverage knowledge and best practice from different parts of the world. At the same time, we are engaging with Saudi Arabia as a key player in the Arab World to support further Arab integration in the global economy ” said Mr. Zoellick. Mr. Zoellick met with Governor of the Saudi Arabian Monetary Agency H.E. Sheikh Hamad Al-Sayari, Finance Minister Dr. Ibrahim Al-Assaf, and the Managing Director of the Saudi Fund for Development H.E. Engineer Yousef Al-Bassam. During his meetings Mr. Zoellick discussed the global food crisis and ideas about how the Arab world could accelerate reform efforts. He emphasized the role of Arab development funds as key players in advancing the integration of the Arab World in the global economy. Zoellick also noted that 2008 would be a pivotal year for protecting the poor from the effects of the food crisis. Zoellick first raised the issue in January and reiterated his call for a “New Deal for Global Food Policy” to meet food price crisis at the World Bank-IMF Spring Meetings in April. ### For more information on the World Bank Program in the Middle East and North Africa , please visit: www.worldbank.org/mna |
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