World Bank Managing Director Juan Jose Daboub stated that he was optimistic about progress in the Arab World, and the World Bank’s capacity to strengthen engagement with Arab countries and institutions.
Daboub is currently in Dubai, following a 10 day visit to Egypt, Oman, Kuwait, Qatar, Bahrain and UAE intended to launch consultations on how the World Bank can cooperate even more closely with the Arab World for a better shared future. “I am keen to listen to the views and perspectives from our partners in governments, regional institutions, private sector and civil society on how the Bank Group can become more effective in addressing the challenges of creating jobs, diversifying economies and supporting inclusion across the Arab world,� said Daboub.
World Bank President Robert Zoellick identified development and opportunity in the Arab World as one of six key strategic themes for the Bank. This vision is consistent with the World Bank Group’s long association with the Arab region and its long-standing commitment to supporting economic and social development.
While Arab countries are very diverse, several Arab partners met by Daboub emphasized a common set of issues in the region. “Arab leaders would like to see increased engagement from the World Bank Group to encourage greater integration of Arab countries with each other and with the global economy to provide jobs and opportunities, especially for young people and women�, said Daboub. “Arab countries need to generate 80 million new jobs in the coming 15 years in order to respond to the rapidly growing population.�
Discussions at the heads of governments and ministerial level, with senior officials from the Arab League and Arab Funds, and representatives from the private sector and civil society highlighted a range of common issues where Arab countries see cooperation from the World Bank Group as adding value. These include: encouraging growth and jobs, especially for young people; greater social inclusion, including for women; education reform to strengthen quality and ensure that graduates have relevant skills for a modern economy; better managing environmental issues, including limited water resources and managing pollution in bodies such as the Gulf; strengthening public accountability and service delivery; and providing economic opportunities to help overcome conflict. These issues will be important to ensure that growth is both environmentally and socially sustainable.
Daboub noted that he was impressed with the efforts of World Bank Group staff in the region to respond flexibly to the demands of sophisticated clients. World Bank lending in support of national development programs has increased from $597 million in 2002 to $1.15 billion in 2007. IFC has expanded its investment in MNA countries to US$1.2 billion in 2006 compared to US$ 287 million in 2005. This is a trend Daboub hopes will continue, following recently reduced pricing and extend maturities of World Bank loans, and the development of innovative Islamic finance products by the World Bank Group.
Daboub also stressed that “Knowledge development and sharing is indispensable for the Bank to remain relevant in Arab countries, as in all clients. I am very pleased that many of the higher-income countries in the region â€" including the Gulf States I have visited - value the Bank’s specialized and global knowledge, and access such expertise through fee for service arrangements.â€� To this end, Mr. Daboub finalized arrangements for a new World Bank office in Kuwait, which will focus on strategic cooperation. “Other countries value the 'bundled' knowledge that comes with Bank financing. At the same time, we need to ensure that we are able to learn from, and share with other countries and regions, some of the innovative and exciting policy reforms in which Arab countries are engagedâ€�, said Daboub. “I was impressed by extensive reforms in Egypt, which the World Bank’s Doing Business report highlighted as the top reformer in 2008. There has been almost unprecedented
expansion in access to education over the past 30 years in Oman. In Dubai, over 11,000 women own businesses, contributing to the economy while balancing family responsibilities. And the rapid economic expansion and diversification in many of the Gulf States in the space of a generation is truly remarkable,� he added.
While in the Gulf States, Daboub especially thanked Kuwait for its $52 million contribution to the International Development Association, the World Bank’s concessional financing arm for poorer countries.
Daboub was joined by Dr. Merza Hasan, World Bank Executive Director representing Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Libya, Maldives, Oman, Qatar, Syria, United Arab Emirates, Yemen, and Ms. Daniela Gressani,World Bank Vice President for the Middle East and North Africa Region.
source: Contacts:
In Washington: Dina El Naggar (202) 473-3245
Delnaggar@worldbank.org
http://web.worldbank.org/WBSITE/EXTERNAL/NEWS/0,,contentMDK:21675669~pagePK:34370~piPK:34424~theSitePK:4607,00.html
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