World Bank President thanks the Kingdom for its assistance

June 2, 2014

Crown Prince Salman bin Abdulaziz received World Bank President Dr. Jim Kim and his accompanying delegation at Al-Salam Palace in Jeddah today. During the meeting, Dr. Kim expressed appreciation for the support and close cooperation provided by the Kingdom to his organization. The two sides discussed the World Bank’s new strategy aimed at eradicating poverty in the Middle East and North Africa by 2030. The session was attended by Minister of State Prince Mohammed bin Salman bin Abdulaziz; Minister of Finance Dr. Ibrahim Al-Assaf; Governor of the Saudi Arabian Monetary Agency (SAMA) Dr. Fahd Al-Mubarak; and Vice President and Managing Director of the Saudi Fund for Development (SFD) Yusuf Al-Bassam.

The World Bank delegation held separate meetings with Deputy Crown Prince Muqrin bin Abdulaziz and Minister of Finance Al-Assaf. During a joint press conference held on June 1 between Dr. Al-Assaf and Dr. Kim, the Saudi Finance Minister hailed the role played by the Bank in many developing Arab countries. For his part, Dr. Kim thanked the Kingdom for being one of the bigger contributors to the Bank. He stated, “The Kingdom of Saudi Arabia plays a crucial role in regional and global economic development as a major source of energy, overseas development assistance, foreign direct investment and remittances. I came to the Kingdom to thank the senior leadership of their generosity and also to seek ways to strengthening our partnership with them in order to support other countries in transition in the region as well as those impacted by the tragic conflict in Syria.”

Later, the President of the Islamic Development Bank (IDB), Dr. Ahmed Mohammed Ali, and Dr. Kim signed an agreement to upgrade the level of cooperation between the IDB and the World Bank.

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