World Bank Praises Kuwait’s Vision Of Reform



Dr. Daboub and the accompanying delegation met with H.E. Ismael Al-Shatti, the Deputy Prime Minister. During the meeting, the World Bank delegation praised Kuwait’s economic performance, its vision for reform and its emphasis on governance and transparency.

The World Bank delegation also met with H.E. Bader Al Humaidhi, Minister of Finance, and H.E. Masumah Al Mobarak, Minister of Telecommunications. The World Bank delegation also met with members of the Chamber of Commerce. The dialogue offered an opportunity to discuss the progress made by Kuwait in enhancing the role of the private sector. In its meeting with the Finance Committee of the National Assembly, the delegation also had the opportunity to exchange views with a group of parliamentarians on the Build-Operate-Transfer (BOT) contracts within the context of the draft Public Private Partnerships (PPP) legislation. "This is my first visit to Kuwait and I am very impressed with the social and economic developments that Kuwait has been able to achieve over the past decade, "noted Dr. Daboub. "We have a growing partnership with Kuwait and look forward to expanding the scope of our cooperation," he added.

For the World Bank Group, Kuwait is emerging as a strong partner in the region. The Technical Cooperation Program delivered by the World Bank in Kuwait is designed to share the institution’s experience in supporting elements of the reform agenda that focuses on governance and anticorruption. Through the Kuwait Monetary Authority, Kuwait contributed US$2 million to the multi-donor funded Private Enterprise Partnership for Middle East and North Africa (PEP-MENA) that is managed by IFC. PEP-MENA serves as a mechanism for delivering technical assistance to small and medium enterprises across the MNA region.

At the High Level Forum hosted by the Arab Fund for Economic and Social Development, Dr. Daboub met with the heads of Arab and Islamic Funds, where he shared the Bank’s commitment to continue working with the governments and development partners to deepen the institutional strengthening and capacity building efforts in the region.

The World Bank Group has a track record of development results across countries and sectors and a commitment to the IDA campaign as an instrument to create opportunities for the poor. "I am encouraged by the willingness of the Coordination Group to take up the difficult challenge of strengthening institutions and capacity and to explore innovative approaches to this task," said Dr. Daboub. "We are laying the foundation for a shared commitment and solidarity to apply renewed energy in improving the lives of the poor in developing countries. These people deserve our best efforts," he concluded.

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