The World Bank Group (WBG) and the Qatar Fund for Development (QFFD) signed a Memorandum of Understanding during the official opening of the World Bank Group’s office in Doha, marking a significant step in strengthening global development cooperation. The inauguration and signing ceremony were attended by Ajay Banga, President of the World Bank Group, and Ali bin Ahmed Al Kuwari, Qatar’s Minister of Finance.

Under the MoU, WBG and QFFD will explore future collaboration on initiatives aligned with global development priorities, including efforts to expand electricity access to 300 million people in Sub-Saharan Africa and to improve the livelihoods of up to 250 million smallholder farmers worldwide through the World Bank Group’s AgriConnect platform.

Qatar’s Minister of Finance noted that the new office will contribute to economic growth and promote outbound investment in emerging markets, while also supporting capacity-building programmes and youth development. The partnership underscores a shared commitment to innovative development financing, focusing on long-term resilience, inclusive growth, and sustainable development across regions including the Middle East and Sub-Saharan Africa.