Monday, January 24

‘World bank hub in Malaysia to bring together economic, financial experts’

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KUALA LUMPUR: The World Bank Group (WBG) office in Malaysia will function as a hub that brings together local economic and financial experts, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He said the hub would also allow WBG to conduct developmental research to improve global indicators including through the World Bank’s Doing Business Survey and provide technical support in selected fields, especially for low and middle-income countries.

“This office will build on the existing Malaysia-WBG collaboration in various fields for Malaysia to achieve a developed and high-income nation status.

“Furthermore, the office will strengthen the country’s commitment to South-South cooperation as well as the sharing of knowledge and experience.

“WBG’s work programmes will focus on the core economic areas where Malaysia has wide experience and expertise that can be shared with other developing countries in Asia,” he said during the winding-up debate on Budget 2021 at the committee stage in the Dewan Rakyat yesterday.

Tengku Zafrul was replying to a query from Datuk Seri Ahmad Maslan (BN-Pontian) on the role of and benefits from the WBG office in the nation’s capital. — Bernama