Saudi Arabia among top donors to World Bank fund for poor

Axel van Trotsenburg
Updated 08 December 2016
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Saudi Arabia among top donors to World Bank fund for poor

RIYADH: Saudi Arabia is among the top donor countries with total contributions to the World Bank and its programs for poor countries exceeding $2.2 billion.
“The World Bank expects more Saudi contributions as the bank is in the final round of negotiations with 50 donor countries including the Kingdom,” said Axel van Trotsenburg, World Bank group vice president for development finance, here Tuesday.
Trotsenburg said that “the final round of negotiations with 50 donor countries, including the Kingdom, will take place in Yogyakarta, Indonesia on Dec. 14.” The negotiations will give a boost to the programs of the International Development Association (IDA), an institution of the World Bank, which generates core funds on which the poorest developing countries, especially in Africa, rely on.
Trotsenburg, who was speaking to Arab News in an interview after his wide-ranging talks with Finance Minister Mohammed Al-Jadaan, said that the bank is also supporting the Saudi government across many sectors including education, health, labor markets, transport, energy, urban planning, economic management, public financial management and business climate.
Referring to the role of Saudi Arabia in promoting the policies and programs of the World Bank, especially IDA programs, he pointed out that the Kingdom has been a major contributor to the IDA. “We are, on the other hand, very supportive of the Saudi Vision 2030,” said Trotsenburg.
Saudi Arabia and the World Bank have been in partnership since 1974 when the Kingdom signed a Technical Cooperation Program (TCP) Agreement establishing the World Bank office in Riyadh.
This advisory services program is the oldest of the bank. Under the agreement, upon government demand, the World Bank brings technical expertise and global knowledge to counterpart entities to support the government as it addresses development challenges. The TCP has diversified and grown over the past four years.
Asked about the allocations and assistance provided for poor countries and fragile states like Yemen and Syria under IDA, he said “the major beneficiaries have been Muslim countries like Pakistan, Bangladesh, Afghanistan, Yemen and Syria.”
“We are working closely with other UN agencies to help people in Yemen,” added the World Bank official.
He said that “the IDA will reach about 77 poor and deprived countries in 2018.” To this end, he noted that the Kingdom has actively supported the IDA. Saudi Arabia is a valued, active partner of the World Bank Group. “Through its contributions to select funds, it reinforces its status as a key partner in the effort to end extreme poverty and boost shared prosperity,” said a Bank statement released on the occasion of the visit of Trotsenburg.
Saudi Arabia has its own chair on the board of executive directors and has been a major donor to the IDA since its inception. The World Bank is also supporting the Kingdom in strategic projects related to its “Vision 2030” and the National Transformation Program 2020 (NTP). The portfolio size under these programs has increased from around $4 million in 2010 to around $11 million in 2016.
“Among the results seen by Reimbursable Advisory Services (RAS) engagements in Saudi Arabia is the World Bank’s support for the development of national strategies such as the national water and transport strategy and the national waste management strategy. Upon demand by the Saudi government, the bank assessed water consumption and agriculture subsidies,” said the statement. It was clear that the wheat production industry was consuming water inefficiently.
The bank advised removing the subsidies on crops generating negative added value. Saudi Arabia stopped its local wheat production, saving the Kingdom water and financial resources. The bank also provided support for the Saudi Food & Drug Authority (SFDA) in the areas of animal feed, goods manufacturing practices and medical devices regulation. These engagements resulted in the automation of the licensing processes and improving inspection practices for SFDA.


World celebrates Saudi National Day

Updated 23 September 2018
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World celebrates Saudi National Day

DUBAI: From Dubai to Beirut to New York and Washington, D.C., Saudi National Day was celebrated outside of the Kingdom on Sunday as a show of patriotism by Saudis abroad and as a sign of friendship by countries around the world.

The Dubai airline operated a special one-off A380 service, known as EK 813 and EK 814, on Sunday to the capital city of Riyadh, touching down at King Khalid International Airport at 3:30 p.m. The return flight was scheduled to depart at 6:50 p.m.

A YouTube video from Emirates also showed crew handing out scarves embroidered with the countries’ flags, as well as white roses, to passengers while boarding the A380 aircraft.

 

The Burj Khalifa was illuminated with the Saudi flag last night, while the Nasdaq Tower’s electronic billboard in New York’s Times Square was lit up with photos of King Salman, Crown Prince Mohammed bin Salman and the flags of Saudi Arabia and the UAE. 

The images were posted by Nasdaq Dubai, the UAE-based operation of the New York equities exchange, on Twitter with the message: “Best wishes from #NasdaqDubai to #SaudiArabia on the occasion of the 88th National Day.”

 

 

In Lebanon, Pigeons’ Rock, also known as the Rock of Raouché, located in the sea of the western capital of Beirut, was lit in the colors of the Saudi flag. The rock, one of the most important Lebanese monuments, was lit during a ceremony attended by the charge d'affaires of Saudi Arabia, Waleed bin Abdullah Bukhari, along with a crowd of dignitaries, including the Mayor of Beirut.

In Washington, the Saudi embassy’s National Day bus toured around the capital on the weekend inviting people to its celebrations on Sunday in National Harbor, Maryland.

In the UAE’s capital, the General Command of Abu Dhabi Police decorated 88 of their cars - one for every year being celebrated – with the flags of Saudi Arabia and the UAE and the words “Together Forever.”

The UAE’s airlines got in on the game. Emirates operated a special one-off A380 service on the routes EK 813 and EK 814 on Sunday to the capital city of Riyadh, touching down at King Khalid International Airport at 3:30pm. Crew handed out scarves emblazoned with the countries’ flags, as well as white roses, to passengers boarding the aircraft.pic.twitter.com/U36yYpxE8T

Etihad said it was using the only Saudi A380 pilot in the world, Wesam Sameer Al Najjar, to fly its Year of Zayed plane to Jeddah with the UAE’s Captain Ahmed Almalood.

In the UAE, children at some schools dressed in green and sang the anthems of both countries, carrying both of their flags. In the evening, there was a Saudi National Day celebration at La Mer beachfront in Dubai that featured a supercar parade, traditional Saudi dancers and, of course, fireworks.