The World Bank has opened a new regional hub in Riyadh to serve the Middle East, North Africa, Afghanistan, and Pakistan, as the Washington-based lender continues to boost its presence in the region, reports Arab News.
According to a Press statement, the new Riyadh hub will be co-located with the World Bank Group’s GCC regional office, bringing its leadership closer to country teams, clients, and regional partners.
The regional hub development aligns with Saudi Arabia’s government-backed regional headquarters programme, launched in 2021, which offers incentives such as a 30-year corporate income tax exemption and withholding tax relief, alongside regulatory support for multinationals operating in the Kingdom.
A Saudi Press Agency report in March said that over 600 international companies, including Northern Trust, IHG Hotels & Resorts, and Deloitte, have already established their regional bases in Saudi Arabia.
&uuid=(email))