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Bahrain's Minister of Finance Shaikh Ahmed bin Mohammed Al Khalifa has been appointed the new chairman of the World Bank / International Monetary Fund's prestigious development committee.
The role is central to the forum's facilitation of intergovernmental consensus-building on critical issues, including the financial resources required to promote economic development in developing countries.
The announcement came during the annual meetings of the World Bank Group and IMF in Istanbul, Turkey, where Shaikh Ahmed was earlier this week named 'Finance Minister of the Year' for the Middle East and North Africa (MENA) region. The annual award from Emerging Markets, the newspaper of record for the event, recognises Shaikh Ahmed's dedication to reform, prudent fiscal policy and efficient and transparent decision making which has boosted market confidence at a crucial time.
The accolades reflect the international community's acknowledgment of Bahrain as a well-managed economic hub - and of the wider achievements of the Gulf and MENA region, according to Shaikh Mohammed bin Essa Al Khalifa, chief executive of the Bahrain Economic Development Board (EDB).
"In Bahrain, Shaikh Ahmed's commitment to strong financial regulation and prudent investment in the economy has continued to attract foreign investment and further diversification of the economy - already recognised as the most diversified in the Gulf. But our ambition is to contribute to the growth of the Gulf and MENA as a whole. And we have a point of view that needs to be heard on significant global issues."
