International co-operation and economic resilience remain key to overcoming global geopolitical and trade challenges, Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa has said.
He affirmed that economic diversification, stronger public finances, secure energy and supply chains, robust financial regulation and investment in citizens were key to building resilient national systems, a report in Gulf Daily News, our sister newspaper said.
Shaikh Salman made the remarks while delivering a statement on behalf of the Arab Group and the Maldives, represented by Bahrain, at the 114th meeting of the World Bank’s Development Committee Plenary, held during the World Bank and International Monetary Fund Annual Meetings in Bangkok, Thailand.
“Conflicts and geopolitical tensions are disrupting global trade routes,” he said. “Insecurity around the Strait of Hormuz and Bab Al Mandab have led to higher global transport costs, shipping delays and slower global growth. Despite these challenges, countries remain committed to promoting stability, recovery, resilience and adaptability, sending a message of determination and international partnership.”
He highlighted that, for decades, resilience had been associated with building safety margins, such as capital, reserves and stockpiles. While these remained important, they were only part of a resilient system. Sustainable resilience should be built into every aspect of the economic system.
He added that job creation was fundamental to stability and shared prosperity. Providing quality jobs amid major technological shifts would be a complex challenge for many countries. He urged the World Bank to help countries not only prepare to adopt artificial intelligence, but also take part in its development and compete in a global economy driven by AI. This would strengthen resilience and make human capital adaptability an integral part of national systems.
Shaikh Salman also highlighted the role of regional co-operation in boosting productivity and supply chain security. He noted that the World Bank Group should support and finance the development of cross-border logistics and transport infrastructure globally. This would strengthen the resilience of countries’ supply chains and make adaptability an integral part of their design.
He stressed that increasing private capital flows and directing them effectively remained crucial. “The challenge is not a lack of capital, but linking it efficiently to opportunities while assessing risks realistically,” he added. Shaikh Salman encouraged the World Bank Group to expand blended finance solutions to help countries attract more private investment, strengthen the resilience of capital allocation and build adaptability into their financing mechanisms.
The Finance and National Economy Minister said the World Bank had brought nations together around one table. He called for countries to use the opportunity to renew their commitment to working together to build a stronger global development agenda, strengthen its resilience and make adaptability an integral part of its design.
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