S. Arabia, World Bank launch Knowledge Hub

The World Bank Group and Saudi Arabia have signed an agreement to establish a Knowledge Hub (K-Hub) in Riyadh, aimed at facilitating the global exchange of ideas and solutions to address development challenges.

The K-Hub will focus on knowledge generation and exchange, promoting collaboration, capacity-building programmes, and evidence-based policy solutions. It will be hosted by Saudi Arabia’s National Centre for Competitiveness (NCC).

World Bank Group President Ajay Banga and Saudi Minister of Commerce Majid Al-Kassabi signed the agreement, highlighting K-Hub’s role in advancing competitiveness and economic diversification. Banga noted the importance of scaling global knowledge, while Al-Kassabi emphasised the Kingdom’s model for competitiveness.

The K-Hub will initially focus on competitiveness and diversification, addressing sub-themes such as business environment reforms, innovation policy, productivity growth, and exports diversification.

Attribution: World Bank

Subediting: M. S. Salama