di - The World Bank said on Monday it is opening a new regional hub in Riyadh to serve the Middle East, North Africa, Afghanistan, and Pakistan, underscoring Saudi Arabia’s growing role as a development partner in the region.
The new office “will strengthen collaboration with governments, development institutions, and the private sector to accelerate growth and tackle regional challenges,” the Bank said in a statement. It added that the hub would provide “a platform for knowledge exchange, policy dialogue, and support for investments that advance sustainable development.”
World Bank President Ajay Banga said the Riyadh hub would help the institution “respond more quickly to the needs of the region and deliver solutions that are tailored to the challenges and opportunities facing its people.”
The announcement comes as Gulf states, led by Saudi Arabia, increase their engagement with global financial institutions. Riyadh has positioned itself as a host for international organisations as part of its Vision 2030 economic diversification drive.
The World Bank already has offices in several countries in the Middle East and North Africa, but the Riyadh hub will serve as a central base for coordination across a wider geographic footprint, including fragile economies such as Afghanistan.
“The establishment of this regional hub will help scale up our support for job creation, climate action, and infrastructure investment in some of the most dynamic yet vulnerable economies in the world,” the Bank said.