World Bank ready to offer expertise on Kuwait Vision
KUWAIT: The World Bank is ready to offer its expertise to support Kuwait’s Vision 2035, Ziad Nakat, the World Bank Resident Representative in Kuwait, said on Sunday. In an interview with KUNA, Nakat affirmed that, as a World Bank representative, he would be focusing on bolstering ties with Kuwait by providing proposals to boost development in Kuwait in the public and private sectors.
He indicated that such development must go through investing in human capital, bolstering governance, developing public administration, improving services, and reinforcing sustainable development of infrastructure. Nakat affirmed that the World Bank would seek a strong partnership with Kuwait to transform the country into an international hub for commerce and financing in line with Vision 2035.
The World Bank’s vast global experience throughout the decades enabled it to offer sound advice and consultancy tailored to each country’s needs, Nakat pointed out, adding that any entity in Kuwait could seek knowledge collaboration with the World Bank in line with agreements signed between the bank and Kuwait. Due to Kuwait being a member of the bank since 1961, the World Bank is eager to boost cooperation between the two sides on all possible levels, Nakat affirmed.
The Washington, DC-based World Bank was founded in 1944, and it has some 189 members. The bank provides development consultancy services through its international experts as well as solutions, crisis management, and response to regional and international challenges. It also offers loans to countries to battle poverty and achieve development.