Saudi Arabia Chosen as Location for New World Bank Knowledge Hub

The World Bank has announced that a new knowledge hub will be established in Saudi Arabia, in partnership with the Kingdom’s National Competitiveness Center. Currently in the preparatory stage, the hub will serve to disseminate local expertise developed through Saudi Arabia’s experience with economic reform, seeking to enhance regional and global competitiveness  collaborations with other countries in the region.

Overseen by the Ministries of Finance, Economy, and Planning, alongside several other relevant agencies, the hub is a sign of international recognition for Saudi Arabia’s rapidly diversifying economy, having been based almost solely on petroleum revenues until fairly recently.