Bahrain has a diversified economy capable of surmounting challenges and availing of global economic changes, a top UN official said.
The United Nations Assistant Secretary General and United Nations Development Programme (UNDP) Regional Bureau for Arab States director Abdallah Al Dardari affirmed the kingdom’s ability to weather the impact of the recent US tariffs on Arab economies thanks to its sound and resilient economy.
“A recent preliminary study conducted by the UNDP on the impact of the US tariffs on Arab economies has shown that the more diversified an economy is, the more efficiently it can handle such shocks,” he said to our sister paper Akhbar Al Khaleej on the sidelines of his first official visit to Bahrain since assuming his position.
He also stated that the Bahrain Country Programme Document (2025-2029), recently approved by the UNDP Economic and Social Council, was developed through partnership between the government, the private sector and civil society in Bahrain.
“These dialogues and direct meetings about the country programme provided a valuable opportunity to identify Bahrain’s development needs, challenges and prospects,” he affirmed.
“There is clear seriousness and strategic planning in Bahrain towards implementing the Sustainable Development Goals (SDGs). I hope this experience can be replicated across the region,” Mr Al Dardari emphasised.
“The UNDP is committed to ensuring Bahrain maintains its advanced standing in human development and continues to progress despite challenging global conditions,” he said, pointing out a global decline in 78 per cent of the Sustainable Development Goals due to global economic hardships.
“The UNDP looks forward to Bahrain’s approval to establish a green financing platform – an initiative that would analyse the financial space available for funding development in Arab countries and assess the local and global financial flows to identify existing funding gaps,” he noted.
“The Arab region needs about $220 billion in annual investments until 2030 to achieve the SDGs, amounting to approximately $1.5 trillion, while Arab banks currently hold deposits totalling around $4.6 trn,” he explained.
He also remarked that the Arab region has suffered enormous shocks, estimating the cost of destruction caused by conflicts to be around $1trn – a figure not easily compensated.
Mr Al Dardari stressed that the UNhas not left Gaza and that all its organisations are still present there. He emphasised that only the people of Gaza can rebuild it, with the support of the Arab and international communities.
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