The Kingdom of Saudi Arabia has played an important role in the World Bank Group (WBG) since it joined the International Bank for Reconstruction and Development (IBRD) on August 26, 1957. Through its contributions to the WBG institutions and various funding programs, Saudi Arabia supports the WBG’s efforts of ending extreme poverty and boosting shared prosperity and remains committed as an active member in achieving the WBG’s mission and goals.
Saudi Arabia plays a critical role to support sustainable development in the region. Saudi Arabia is a member of several regional institutions such as the Islamic Development Bank, Asian Infrastructure Investment Bank, Arab Monetary Fund, Arab Fund for Economic and Social Development, and African Development Bank; where it provides major funding for development purposes within the region. In addition, Saudi Arabia plays an important role in shaping the policies that guide the global economy as a member of the G20, Financial Stability Board, and other international organizations.
Mr. Khalid Bawazier, the Executive Director, represents Saudi Arabia at the WBG Boards, who approves policies, budgets and financing operations as well as the WBG’s business, strategies and governance. The Executive Director is currently a member of the Audit Committee and COGAM Committee of the Board while also participating in other Board’s standing committees. The Executive Director is supported by an Alternate Executive Director, Advisors to the Executive Director and administrative staff.
Last Updated: June 1, 2021