The State of Qatar has solidified its position as a key hub for global development finance with the official inauguration of a new World Bank Group (WBG) office in Doha. The new office, located at the headquarters of the Qatar Fund for Development (QFFD), was launched alongside the signing of a Memorandum of Understanding (MoU) to enhance strategic collaboration on sustainable development solutions worldwide.
The inauguration ceremony was attended by prominent figures including Minister of Finance H E Ali bin Ahmed Al Kuwari, WBG President H E Ajay Banga, and Chairperson of QFFD H E Sheikh Thani bin Hamad Al-Thani, signaling a major step forward in the partnership between the two entities.
A Strategic Partnership For Global Impact
The new office and accompanying MoU represent a mutual commitment to fostering innovative financing for development, job creation, and reconstruction efforts across the Middle East, Sub-Saharan Africa, and other regions affected by conflict and fragility.
“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,” said Ajay Banga, President of the World Bank Group.
Fahad Hamad Al-Sulaiti, Director General at QFFD, added, “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.”
Aligning With Qatar National Vision 2030
The Doha office is set to play a pivotal role in achieving the goals of the Qatar National Vision 2030. It will strengthen the World Bank Group’s engagement with both public and private sectors in the country and act as a strategic channel for promoting Qatari outbound investments into emerging markets.
Speaking at the event, Minister of Finance H E Ali bin Ahmed Al Kuwari noted the long-standing collaboration between Qatar and the World Bank.
“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 the Minister.
Targeted Initiatives For Emerging Markets
The collaboration will leverage instruments from both public and private sectors to unlock opportunities in key areas like human capital, energy, agribusiness, and digital development.
Under the new MoU, the WBG and QFFD will explore joint efforts on global development priorities. These include the M-300 initiative, which aims to expand electricity access for 300 million people in Sub-Saharan Africa, and the World Bank Group’s AgriConnect platform, designed to enhance the livelihoods of up to 250 million smallholder farmers globally.
About Qatar Fund for Development
The Qatar Fund for Development (QFFD) is a Qatari public development institution committed to improving the livelihood of communities worldwide. It focuses on providing financial tools to developing countries and implementing programs in education, health, and economic empowerment to promote inclusive and sustainable growth.
Source: Zawya
