President of the World Bank Ajay Banga stressed on Tuesday that Saudi Arabia has sought to empower women in the labor market, urging other countries to follow suit to realize aspirations through the quality of life to create jobs.
He noted that the World Bank has a mission and vision to address climate change, resilience to engage with the world and focus on the youth as the beating heart of the world to achieve future aspirations, the growth of the global economy and joint efforts.
Banga made his remarks while participating in the seventh edition of the Future Investment Initiative that is currently underway in Riyadh.
He added that aspirations must be realized through the quality of life and generating jobs, reviewing the geopolitical challenges and crises in various countries.
He noted that the global economy will be in a good and reassuring status only if the world joins efforts, adding that all should be responsible for facing challenges related to energy transition and debts.
Moreover, he said the volume of renewable energy amounts to $3 billion, which is increasing, stressing the need for the private sector's engagement to reach a level that develops the global economy, works together to reduce carbon emissions, and focuses on reaching solutions to reduce increasing emissions.
He also highlighted risks related to the economy through legislative frameworks that the World Bank is planning to address, which requires local capital from the private and public sectors.
