Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa has stressed the role of the private sector as the main driver of job creation and growth.
He also commended the efforts of the World Bank and the International Finance Corporation (IFC) in mobilising private capital.
This came as the minister delivered a statement on behalf of the Arab Group and the Maldives, represented by Bahrain, before the Development Committee during its 112th meeting, held as part of the annual meetings of the International Monetary Fund (IMF) and the World Bank Group in Washington.
The meeting brought together committee ministers and senior officials from international institutions and organisations to discuss global economic issues of shared concern.
Shaikh Salman said that many countries around the world are facing structural challenges within their economies that limit development opportunities.
“The demand for jobs among young people continues to grow, while women’s participation in the labour market remains low. Persistent educational poverty threatens to create a generation lacking skills and opportunities,” he said, noting that these challenges have been compounded by geopolitical instability in several regions.
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