World Bank Officials: Cooperation in the Region Targets Development, Climate Protection

World Bank officials Paul Noumba Um and Marina Weiss (Asharq Al-Awsat)
World Bank officials Paul Noumba Um and Marina Weiss (Asharq Al-Awsat)
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World Bank Officials: Cooperation in the Region Targets Development, Climate Protection

World Bank officials Paul Noumba Um and Marina Weiss (Asharq Al-Awsat)
World Bank officials Paul Noumba Um and Marina Weiss (Asharq Al-Awsat)

World Bank officials stressed that climate challenges in the Middle East included water scarcity, food shortage, and energy security, noting that the Saudi Green Initiative was an example to follow in order to address these threats.

Asharq Al-Awsat interviewed Paul Noumba Um, the Regional Director of the World Bank’s Infrastructure Department in the MENA region, and Marina Weiss, Regional Director for Egypt, Yemen, and Djibouti, on the sidelines of the COP27 in Sharm el-Sheikh.

The two officials noted that the Bank paid great attention to the Middle East and North Africa region, saying that during the past year, it contributed about $32 billion in support to developing countries’ climate response.

“We believe that the climate problem is the most pressing issue of our time and for future generations, and (doing nothing) is not an option...Part of our action and our goal during our participation in COP27 is that we should not look at addressing climate change from the point of view of costs, but as a great opportunity that can be invested to obtain a better life…” they said.

Water scarcity

The two World Bank officials added: “In the Middle East and North Africa, 6 out of 10 people suffer from water scarcity. This is the main output of our analysis during the Country Climate Diagnostic Report, which highlighted this result in Morocco, Egypt, Jordan, and Iraq.”

Both Noumba Um and Weiss emphasized that water scarcity was a huge challenge. “If we do not deal with it properly, it may cause a violent mass displacement of the population to other areas, which in turn may be affected as a result of displacement and an increase in density compared to the available water,” they warned.

They said that it might also cause damage to life and the economy in large areas, as it may reduce national income between 3 and 6 percent by 2050.

“Water scarcity is reflected, of course, on food security, which is the second problem that is no less important,” they said.

The third challenge, according to the two officials, is energy security.

They noted that the MENA region was a sunny area that enjoyed the necessary land and manpower to use for energy transition.

Serious initiatives

On the Saudi Green initiatives, the two officials emphasized that Saudi Arabia and the Gulf States were seeking to address the three challenges of water, food, and energy.

They added that the Gulf countries have the largest reserves of oil and gas, “and most of them now possess - and are working on - technologies to reduce emissions from fossil energy... which goes in parallel with our efforts in the SCALE initiative, for example.”

Moreover, Noumba Um and Weiss pointed to progress in the production of green and blue hydrogen in the Gulf through technologies that are compatible with climate protection.

“So we conclude that the Gulf countries are on the right track, and have taken the agenda of dealing with climate change very seriously and as a high priority,” they remarked.

Extensive Efforts

Asked about the support provided by the World Bank to the MENA region, the two officials said: “We, with our partners, provided developing countries last year with about $32 billion to confront climate challenges.”

They noted that around half of the budget was dedicated to adaptation efforts, while the other part was for damage mitigation.

“This amount represents about 35 percent of our total financing during that period, which shows the extent of the Bank’s interest in climate issues,” they underlined.

The Bank also launched a new initiative called, SCALE, a new multi-partner fund to help reduce emissions, which will benefit the region and other developing countries.

Facing Displacement

On the World Bank’s efforts to face the problem of displacement, the two officials said: “We try primarily to prevent this from happening... We try to alert governments to the upcoming danger through our research and analysis, even if we are dealing with a fragile society (in conflict areas for example). We are also seeking to provide these societies with the necessary technologies and programs to resolve the crisis or stop its deterioration.”

Noumba Um praised the positive energy and active and broad participation from all parties at COP27.

“I don’t like to anticipate the results, because the challenges and files here are enormous,” he said, underlining the need to unify efforts “because we have no other options.”

He pointed out that some countries were facing existential crises.

“For example, water scarcity in Jordan has exceeded the maximum level ever recorded and allowed internationally,” he warned, saying that the country needed international and regional assistance to overcome the crisis and “to reduce water wastage and preserve every drop by all means.”



Saudi Competition Authority Approves 116 Applications for Acquisition

Saudi Competition Authority Approves 116 Applications for Acquisition
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Saudi Competition Authority Approves 116 Applications for Acquisition

Saudi Competition Authority Approves 116 Applications for Acquisition

The Saudi General Authority for Competition (GAC) has initiated criminal proceedings against 24 establishments, processed 299 complaints, and approved investigations into 16 of them after detailed evaluation. The authority dismissed 252 complaints, while 31 cases remain under review.

Since the beginning of 2024, 16 establishments have submitted settlement requests to the authority. Additionally, GAC approved 147 economic concentration (mergers and acquisitions) requests during the first three quarters of the year, classified 74 as non-reportable, and is still reviewing 12 applications.

In an interview with Asharq Al-Awsat, Saad Al-Masoud, the GAC spokesperson, highlighted that settlement is a vital mechanism for ensuring sustainability by correcting violations of the Competition Law and its executive regulations. Such requests are accepted from establishments before criminal charges are initiated.

The Role of GAC

Al-Masoud explained that GAC oversees the implementation of the Competition Law, aimed at promoting fair competition, combating monopolistic practices, ensuring a wide array of high-quality, competitively priced goods and services, and encouraging innovation. The authority’s three main functions include safeguarding fair competition, enforcing regulations and monitoring markets.

The authority also evaluates economic concentration reports (mergers, acquisitions, and joint ventures), issuing necessary decisions. Since January, it approved 147 economic concentration applications, 74 deemed non-reportable, while 12 remain under review.

Economic Concentration Insights

According to Al-Masoud, acquisition requests represented the majority of approved applications, totaling 116 (79%). Joint ventures accounted for 27 applications (18%), with three additional dealership registration requests in the automotive sector (2%), and one merger application (1%).

Exemptions

The authority offers programs, including exemptions under specific conditions outlined in the Competition Law. Companies can request exemptions from Articles 5, 6, and 7 of the law if their actions improve market performance, enhance quality, or provide consumer benefits outweighing restrictions on competition. However, the exemption must not allow the exclusion of competitors from the market for any product, Al-Masoud remarked.

Monitoring and Investigations

The authority identifies potential violations through complaints from individuals, referrals from government entities, or proactive market studies. It investigates and reports findings to its board, which decides on appropriate actions. In 2023, GAC received 141 complaints, dismissing 98 due to reasons such as lack of jurisdiction, insufficient evidence, or no legal violation.

Settlements and Reconciliation Program

Settlement is a corrective mechanism offered to violating establishments before criminal proceedings. The GAC spokesperson said that in 2023, 36 settlement requests were submitted, while 16 were filed in 2024. GAC’s board approved their study, avoiding criminal prosecution for these entities.

The Reconciliation Program, another key tool, allows establishments to disclose anti-competitive agreements and receive immunity from penalties. Al-Masoud revealed that three establishments were granted immunity in 2023 and 2024.

Spreading Competition Awareness

The authority actively promotes fair competition by raising awareness and enhancing specialized knowledge. In 2024 alone, GAC organized 9 workshops with chambers of commerce across cities, 7 university engagements for educational outreach, 25 workshops with national committees, meetings with over 113 entrepreneurs and businesspeople.

Additionally, GAC participated in major exhibitions and conferences, speaking at four of them, to engage its target audience more effectively.

Enhancing Competition

GAC conducts sectoral studies to evaluate market structures and identify anti-competitive practices. These studies benchmark Saudi markets against international standards and best practices, using economic and legal analyses to address competition-related issues.

Al-Masoud said that in recent years, GAC has completed market studies to assess competition levels in Saudi Arabia, deriving lessons and recommendations aimed at fostering effective competition. These recommendations focus on implementing improvements to reduce the likelihood of anti-competitive behavior.