The World Bank has officially opened a new regional hub in Riyadh. This hub will support the Middle East, North Africa, Afghanistan, and Pakistan. It strengthens the bank’s presence while bringing leadership closer to country teams, clients, and regional partners. The hub is part of the World Bank’s broader strategy to enhance efficiency and regional influence.
The Bank will operate alongside the Gulf Cooperation Council regional office. This setup allows faster coordination with regional partners and joint projects. It also enables quicker responses to regional economic needs. Additionally, it provides a platform to share technical expertise across multiple countries.
The Riyadh hub aligns with Saudi Arabia’s regional headquarters program. This program offers a 30-year corporate tax exemption and regulatory support for multinationals. Already, over 600 international companies, including Deloitte, Northern Trust, and IHG Hotels, have set up offices in the Kingdom. Establishing the World Bank Saudi hub strengthens Saudi Arabia’s role as a global center for finance and development knowledge.
Recent projects highlight the hub’s strategic importance. The World Bank provided $650 million for disaster management in Turkiye. It granted $146 million to restore electricity in Syria. It also financed $930 million to improve Iraq’s railway performance. These initiatives show how the Bank will enhance regional economic resilience. The hub will also support sustainable growth by fostering collaboration between governments, private investors, and multilateral organizations.
Officials emphasized the hub’s knowledge-sharing role. It will improve project planning and strengthen regional collaboration. It will also speed up decision-making for development projects. Experts at the hub can provide better technical support for large-scale projects. This ensures countries achieve development goals more efficiently.
The World Bank represents a major step in boosting development in the Middle East and North Africa. By centralizing expertise, the World Bank will support economic diversification, strengthen policy innovation, and promote sustainable investment. The hub reflects both the Kingdom’s growing regional role and the World Bank’s commitment to supporting development.
