Technical cooperation between the World Bank and countries of the Gulf Cooperation Council (GCC) began over forty years ago with advisory services to the Kingdom of Saudi Arabia, and expanded over time to cover the other GCC countries. In 2016, the size of the GCC Reimbursable Advisory Services program is expected to reach US$30 million and is expected to be close to US$45 million in 2017.
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June 22, 2016 — Bank competition is an important aspect of financial sector development and of non-oil economic growth in the GCC economies; there are benefits to promoting bank competition for helping firms gain access to finance.
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