The Middle East and North Africa (Mena) region needs to create 300 million jobs in order to achieve its development goals, World Bank Group president David Malpass told the World Government Summit (WGS) in Dubai on 30 March.

Failure to rise to development challenges could have “serious implications for livelihoods and social stability across the region”, noted Malpass.

Stressing the importance of diversification, he said the region’s interaction with climate change was complex, and that countries that were importers of energy and food were vulnerable to supply and demand-side shocks.

Malpass recommended Mena countries to focus on deepening trade relationships, labour and capital mobility, investing in knowledge, and enabling a strong business environment.

While GCC countries are cognisant of the global community's call to move away from oil, Malpass said they needed to focus on sustainable performance and service delivery, including mobilising private capital to support state-owned balance sheets. 

He further commended the GCC's growing affinity for hydrogen and said that regional cooperation on energy can bring GCC financing and expertise to the rest of the Mena region.

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