Doha: The World Bank Group (WBG) and the Qatar Fund for Development (QFFD) signed a Memorandum of Understanding yesterday during the official inauguration of the World Bank Group’s office in Doha.

This event represents a significant advancement in enhancing strategic collaboration aimed at providing innovative and sustainable development solutions on a global scale.

In attendance at the inauguration and signing ceremony were Minister of Finance H E Ali bin Ahmed Al Kuwari, Minister of State for International Cooperation H E Dr Mariam bint Ali bin Nasser Al Misnad, President of the World Bank Group H E Ajay Banga and Chairperson of QFFD H E Sheikh Thani bin Hamad Al-Thani, along with senior officials from both organisations.

Speaking on the sidelines of the event, the Minister of Finance noted that Qatar and the World Bank have been working together over the years on many fronts.

“The inauguration of the office today exemplifies the strength of this relationship and our current position. This office is poised to significantly enhance the economy of Qatar, contribute to the Qatar vision, and provide benefits to neighboring countries through the capacity building initiatives of the World Bank, along with the training of young Qataris and others. This initiative is integral to the development of human capital and the strategies we both endorse,” stated H E Al Kuwari.

The Minister noted that Qatar places special emphasis on supporting vital sectors, particularly education and healthcare, especially in underserved areas, fields that are also a key focus of the World Bank’s development programmes, highlighting the depth of the partnership and the alignment of their objectives.

The inauguration of the new office of the World Bank Group, established in partnership with the Ministry of Finance and located at the QFFD headquarters, aims to facilitate the achievement of Qatar National Vision 2030 while strengthening the World Bank Group’s involvement with both the public and private sectors in Qatar. This office will also act as a conduit for promoting outbound investments into emerging markets, both regionally and globally.

This partnership signifies a mutual dedication to fostering innovative financing for development, aiding in reconstruction, recovery, and job creation throughout the Middle East, Sub-Saharan Africa, and in areas affected by fragility and conflict. By leveraging instruments from both the public and private sectors, this collaboration will concentrate on unlocking opportunities in key sectors that are essential for long-term resilience, stability, and inclusive growth, such as human capital, energy and mining, agribusiness, and digital development.

According to the Memorandum of Understanding, the WBG and QFFD plan to investigate future collaborative efforts to support nations that align with global development priorities. This includes initiatives aimed at expanding electricity access for 300 million individuals in Sub-Saharan Africa through the M-300 initiative, as well as enhancing the livelihoods of up to 250 million smallholder farmers worldwide via the World Bank Group’s AgriConnect platform.

During the ceremony, Director General at QFFD Fahad Hamad Al-Sulaiti stated: “This milestone reflects the State of Qatar’s long-standing commitment to strengthening partnerships with leading international financial institutions and accelerating the implementation of sustainable development programmes, in line with the goals of Qatar National Vision 2030.”

World Bank Group President, Banga, said: “Our partnership with the Qatar Fund for Development aligns shared strategic priorities and complementary capabilities to drive job creation—supporting economic opportunity in places where employment is essential to long-term stability.”

This milestone further reinforces Qatar’s position as a global hub for economic and financial cooperation and highlights QFFD’s role as a catalyst for impactful international partnerships that advance equitable and sustainable development.

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