Bahraini Finance Minister Urges For Global Cooperation Towards Peace And Prosperity
In a significant address at the 109th meeting of the World Bank Group (WBG)’s Development Committee in Washington D.C., Shaikh Salman bin Khalifa Al Khalifa, the Finance and National Economy Minister of Bahrain, underscored the critical need for enhanced international cooperation and collective action. Representing both the Arab Group and The Maldives, his speech emphasized the development of innovative strategies and solutions aimed at fostering economic growth and achieving sustainable development goals globally.
Shaikh Salman stressed the importance of efficiently utilizing resources and boosting capabilities to effectively address challenges and transform them into viable opportunities. This approach, he noted, is essential for driving development across all nations. His remarks were made during his participation in the Spring Meetings of the World Bank Group and the International Monetary Fund (IMF), as reported by the Bahrain News Agency (BNA).
The minister lauded the initiatives and programmes initiated by the WBG, highlighting their significant role in catering to the needs of countries and propelling economic development objectives forward. He advocated for the continuous evolution of these programmes and initiatives, alongside allocating essential resources to bolster both public and private sectors. This strategy, according to Shaikh Salman, is pivotal in supporting various sectors and thereby enhancing economic growth.
Furthermore, Shaikh Salman pinpointed security as a foundational element for development and prosperity. He expressed concern over the adverse effects on both regional and global economies due to the absence of peace, security, and stability, particularly spotlighting the situation in the Gaza Strip. The minister’s statement called attention to the challenges faced by all due to these conditions.
He urged for a unified international effort towards finding diplomatic resolutions for regional disputes and conflicts. Additionally, Shaikh Salman advocated for identifying sustainable financing sources to support economic development in the Gaza Strip. This move aims to mitigate the hardships faced by its civilian population. Conclusively, he emphasized the collective pursuit of regional and global peace, stability, and prosperity as paramount for achieving overarching development goals.
This call to action from Bahrain’s Finance and National Economy Minister at a global forum highlights a pressing agenda for international leaders: to collaborate more closely in crafting strategic solutions that not only address immediate economic challenges but also lay down a foundation for long-term sustainable development across all regions.
With inputs from WAM
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