The World Bank has inaugurated a new regional hub in Riyadh to serve the Middle East, North Africa, Afghanistan, and Pakistan, marking a significant expansion of its presence in the region.
According to a press statement, the hub will be co-located with the World Bank Group’s Gulf Cooperation Council (GCC) regional office, allowing the institution to work more closely with country teams, clients, and regional partners. The move comes amid deepening cooperation between the World Bank and Saudi Arabia, which has positioned itself as a growing global hub for development, investment, and policy exchange.
The launch follows a December agreement between the World Bank and Saudi authorities to establish a global knowledge hub in Riyadh. That initiative is designed to support regional and international knowledge sharing, joint research, and capacity-building programs aimed at advancing development impact worldwide.
Ousmane Dione, vice president of the World Bank for the MENAAP region, said the Riyadh hub will play a central role in the institution’s engagement with partner countries. “Riyadh is not only a gateway to the region’s transformation, but also a powerful platform for global knowledge exchange and policy innovation,” he said. “It is especially meaningful to mark this relocation on Saudi National Day, a moment that celebrates the Kingdom’s transformation and its growing role as a global convener of development knowledge.”
The announcement also coincides with the 50th anniversary of technical cooperation between the World Bank and Saudi Arabia, underscoring the longevity of the partnership. Over the decades, Saudi Arabia has contributed to the institution’s initiatives, while also hosting collaborative programs to promote economic development and knowledge exchange.
Recent World Bank projects in the wider region include a $650 million loan to Türkiye for disaster management, a $146 million grant to Syria to help restore electricity supply, and $930 million in financing for Iraq aimed at improving railway performance, boosting trade, and supporting economic diversification away from oil.
The establishment of the new hub also aligns with Saudi Arabia’s Regional Headquarters Program, launched in 2021, which offers multinational firms a 30-year corporate income tax exemption, withholding tax relief, and regulatory support to set up operations in the Kingdom. The initiative has already attracted more than 600 global companies, including Northern Trust, IHG Hotels & Resorts, and Deloitte, according to the Saudi Press Agency.
By situating a major hub in Riyadh, the World Bank signals its confidence in Saudi Arabia’s role as a regional and global center for development, while providing closer on-the-ground support to countries across the MENA and South Asia regions.
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