The World Bank has announced a partnership with the ADGM Academy, a prominent center for excellence in financial education and the knowledge partner for the Abu Dhabi Global Market (ADGM). This collaboration aims to enhance financial literacy, economic understanding, and sustainable development throughout the Middle East and North Africa (MENA) region.
The inaugural event of a planned series of Think Space gatherings was successfully held, focusing on the theme of “Growth in the Middle and North Africa Economic Outlook” at the ADGM Academy. This initiative is designed to empower local talent, facilitate job creation, and stimulate economic growth through a range of comprehensive training programs, research initiatives, and policy advisory services.
Focus of collaboration
The collaborative efforts will concentrate on creating an environment that equips individuals, businesses, and government entities with the skills and knowledge necessary to succeed in the rapidly changing financial landscape. By combining the World Bank’s global expertise in economic development with the ADGM Academy’s regional insights and resources, this partnership aims to deliver meaningful and accessible training and support to address knowledge gaps and promote financial inclusion.
Key initiatives
Key initiatives from the partnership between the ADGM Academy and the World Bank include financial literacy and skills development through tailored training programs aimed at improving financial literacy among diverse segments of society, including youth, women entrepreneurs, and small business owners. The collaboration also focuses on research and thought leadership with joint research projects aimed at tackling economic challenges and uncovering growth opportunities within the MENA region. Furthermore, there will be policy advisory and capacity-building initiatives designed to assist government agencies and regulators in formulating sound economic policies that promote a sustainable and inclusive financial ecosystem.
Read more: ADGM launches new ‘Path to Forward’ brand identity
Knowledge sharing
Moreover, Iva Hamel, World Bank’s resident representative to the United Arab Emirates, expressed excitement about the launch of the World Bank ADGM Knowledge Series partnership, referred to as “ThinkSpace.” She indicated that this initiative marks a significant step forward in the ongoing efforts to facilitate knowledge sharing and capacity building in the region. Throughout the year, a variety of lectures on diverse topics will be hosted, bringing together experts and thought leaders to share their insights and experiences. She also conveyed anticipation for collaboration with partners and stakeholders through this knowledge series as they continue to advance the development goals of the UAE.
Enhancing financial literacy
Additionally, Mansoor Jaffar, CEO of ADGM Academy and Research Centre, stated that he felt privileged to collaborate with the World Bank on this vital initiative. He further noted that this partnership will enable significant progress in enhancing financial literacy and capability across the MENA region, which he considers crucial for long-term economic prosperity.
This collaboration underscores the commitment of both the ADGM Academy and the World Bank to support the MENA region in cultivating a resilient, knowledge-driven economy that effectively addresses the needs of its evolving society.
