Latest news with #JointAnnualMeetingsofArabFinancialInstitutions
Middle East
14-04-2025
- Business
- Middle East
OPEN// PM, planning min., review several important files
CAIRO, April 14 (MENA) - Prime Minister Moustafa Madbouli on Monday reviewed with Minister of Planning, Economic Development and International Cooperation Rania el Mashat a number of important files related to the planning and international cooperation ministry. Mashat briefed the premier on progress made so far in the file of external cooperation, as well as the results of French President Emmanuel Macron's recent visit to Egypt, during which a number of agreements were signed by Egypt, France and the European Union to implement projects in the sectors of water treatment, renewable energy and railways. Mashat shed light on the meeting she had with the head of the French Development Agency to discuss activating joint declarations and agreements signed during the French president's visit within the framework of promoting the strategic partnership between Egypt and France. She also reviewed with the premier the outcome of the fifth session of the Egyptian-Hungarian Committee for Economic, Scientific and Technical Cooperation, which she co-chaired with Hungarian Minister of Foreign Affairs and Trade Péter Szijjártó. During the committee's meeting, the two sides agreed on strengthening cooperation in 26 priority development sectors in the two countries, she said. Mashat posted Madbouli on the file of boosting cooperation with international institutions, citing her meeting with the Executive Director for Egypt at the Board of Directors of the African Development Bank (AfDB) to discuss developments related to implementing the country's strategy and preparations for holding annual meetings. She also posted the premier on her meeting with the Regional Director of the World Bank to discuss efforts to shore up economic development and preparations for the 2025 Spring Meetings of the World Bank Group (WBG) and the International Monetary Fund (IMF), which will take place from April 21 to 26, in Washington, DC. The talks also touched on steps for drawing up the "Egypt Human Development Report 2025" in cooperation with the UN Development Program (UNDP), and with the participation of a number of experts and representatives of national authorities and civil society. Mashat briefed Madbouli as well on the outcome of her visit to Kuwait to participate in the Joint Annual Meetings of Arab Financial Institutions. During the visit, Mashat met with Minister of Finance and Minister of State for Economic Affairs and Investment Noura Suleiman Al Fassam to discuss boosting cooperation between Egypt and Kuwait. (MENA) R R N/R E E
Mid East Info
10-04-2025
- Business
- Mid East Info
ADFD wins Abdul Latif Al Hamad Award for Bahrain International Airport expansion and development project - Middle East Business News and Information
Abu Dhabi Fund for Development (ADFD) has been awarded the Abdul Latif Yousef Al Hamad Development Award for the Best Development Project in the Arab World 2024 for its role in supporting the expansion and modernization of Bahrain International Airport. The award was presented during the 2025 Joint Annual Meetings of Arab Financial Institutions, held in Kuwait. The Fund's strategic collaboration with the Government of Bahrain, established in 1974, exemplifies a model of cross-border cooperation focused on achieving sustainable development goals. The Bahrain airport project, financed by ADFD with AED 3.7 billion (US$ 1 billion), forms part of the UAE's broader AED 9.2 billion (US$ 2.5 billion) contribution to Bahrain under the GCC Development Program launched in in 2013. His Excellency Mohamed Saif Al Suwaidi, Director General of ADFD, said: 'This award celebrates over five decades of UAE-Bahrain partnership, which has delivered transformative projects across critical sectors. The airport expansion aligns with Bahrain's Economic Vision 2030, as it fuels economic growth and sets the stage for shared success in the future.' He added that this recognition reaffirms the strength of the relations between the two nations and reflects the commitment of both sides to achieving development goals. He pointed out: 'together we will continue to chart a bright future of unique achievements that contribute to building solid foundations that support the achievement of our common goals, led by an ambitious strategic vision that strengthens the bonds of cooperation between the two countries in various fields.' H.E. Al Suwaidi also praised the organizers of the Abdul Latif Yousef Al Hamad Development Award for highlighting initiatives that address challenges facing the Arab world through innovation, calling the airport project a 'blueprint for sustainable impact'. Abdul Latif Al Hamad Award Quote: Bader Al Saad, Director General and Chairman of the Board of Directors at the Arab Fund for Economic and Social Development, said that the Abdullatif Al-Hamad Award, aims to highlight the importance of Arab development efforts and encourage investment in economic and social development projects, especially those supported by the Arab Coordination Group. 'We are pleased that the Bahrain International Airport expansion and development project, funded by Abu Dhabi Fund for Development, has been selected for this award. it's the project has had a strong impact on Bahrain's economy, strengthened the country's strategic position in international air transport, increased passengers' traffic and airline use, and helped the airport's operating company secure US$ 250 million by 2024,' he added. Mohamed Yousif Al Binfalah, Chief Executive Officer of Bahrain Airport Company, expressed pride in the recognition of the Bahrain Airport Expansion and Development Project. He said: 'This award marks the success of Bahrain's strategic vision to develop vital infrastructure, made possible by careful planning, exceptional execution by Bahraini talent, and the strong partnership with national and regional institutions such as Abu Dhabi Fund for Development, which played a pivotal role in accelerating this project.' Al Binfalah added that this successful model of joint Arab cooperation shows that combining national will and capabilities with regional support is a powerful way to accelerate sustainable development. He emphasized that this honor goes beyond an urban achievement, reflecting a national success based on a clear future vision that places infrastructure development at the heart of its development priorities. It serves as an incentive to continue improving infrastructure and providing top-tier services in the aviation sector, reinforcing Bahrain's competitiveness on the regional and international stage. Bahrain International Airport a Symbol of Progress: Since its ADFD-backed inauguration in 2014, Bahrain International Airport has emerged as a symbol of innovation and cultural pride. Blending Bahrain's heritage with cutting-edge infrastructure, the airport, the airport reinforces Bahrain's position as a global travel and trade hub, offering world-class security, efficiency and passenger services. Sustainable Legacy for Future Generations: The development and expansion of Bahrain International Airport's, funded by ADFD, has established it as one of the world's most advanced and smart airports, achieving a sustainable impact across various aspects, including: Economic impact: Bahrain International Airport serves as a cornerstone of of the Kingdom's economy, driving tourism, trade, and investment while streamlining import/export operations to bolster local industries. Bahrain Airport Company has achieved significant revenue growth in recent years, with continued growth expected. This will significantly contribute to supporting and boosting the Kingdom's non-oil revenues, which made up 86.4% of GDP in the third quarter of 2024. Social impact: Bahrain International Airport enhances quality of life by facilitating cultural exchange and global connectivity, bridging Bahrain with the world and promoting social diversity. It creates opportunities for Bahraini youth through specialized training programs in aviation services, equipping them with critical skills for future leadership roles. To support the development of national talent in the Kingdom, Bahrain Airport Company launched the 'Tahleeq' program to provide practical training for new graduates. This program has helped nearly 100 young men and women graduate, preparing them to become future leaders in the aviation sector and creating hundreds of job opportunities. Environmental Impact: Bahrain International Airport is committed to enhancing environmental sustainability by balancing infrastructure development with environmental sustainability. It has been awarded the Leadership in Energy and Environmental Design (LEED) Gold certification as the largest green facility in Bahrain and achieved Level 4 'Transformation' certification under the International Airports Council's Carbon Accreditation Program. The airport has taken significant steps to mitigate the environmental impacts of aviation, including reducing energy consumption and improving energy efficiency through efficient cooling systems, saving 23% of energy. It has also used sustainable building technologies, promoted recycling, and implemented reverse osmosis systems to recover 30% of energy, further reducing its carbon footprint. It has also launched programs to reducing carbon emissions. Implementing Innovation Standards: The airport infrastructure integrates cutting-edge technology to stay ahead of industry trends. This enhances operational efficiency and contributes to improving the passenger experience. The airport is among the most advanced in the region, relying on advanced biometric technologies for identity verification and smart security systems to ensure the highest levels of safety. It features 27 ICT (integrated information and communications technology) systems, 4,600 surveillance cameras, and 440 flight information screens supported by 1,125 km of fiber optic cables. The airport is the first in the region to offer a dedicated wireless communications network for operational purposes, enabling employees to communicate via advanced devices with clear voice and instant connectivity, improving response times and coordination between operational and security teams. Bahrain Airport Company continues to invest in advanced ICT solutions, including cloud communications systems and big data analytics, to improve operational and enhanced passenger service efficiency. ADFD Commitment to Global Sustainability: ADFD financed 33 development projects in Bahrain totalling AED 23 billion, spanning housing, energy, transportation, health, and water sectors. The Fund will continue its pioneering work in supporting development at the local, regional, and international levels, aiming to create a more sustainable future for generations to come.
Zawya
09-04-2025
- Business
- Zawya
ADFD wins Abdul Latif Al Hamad Award for Bahrain International Airport expansion and development project
Abu Dhabi – Abu Dhabi Fund for Development (ADFD) has been awarded the Abdul Latif Yousef Al Hamad Development Award for the Best Development Project in the Arab World 2024 for its role in supporting the expansion and modernization of Bahrain International Airport. The award was presented during the 2025 Joint Annual Meetings of Arab Financial Institutions, held in Kuwait. The Fund's strategic collaboration with the Government of Bahrain, established in 1974, exemplifies a model of cross-border cooperation focused on achieving sustainable development goals. The Bahrain airport project, financed by ADFD with AED 3.7 billion (US$ 1 billion), forms part of the UAE's broader AED 9.2 billion (US$ 2.5 billion) contribution to Bahrain under the GCC Development Program launched in in 2013. His Excellency Mohamed Saif Al Suwaidi, Director General of ADFD, said: 'This award celebrates over five decades of UAE-Bahrain partnership, which has delivered transformative projects across critical sectors. The airport expansion aligns with Bahrain's Economic Vision 2030, as it fuels economic growth and sets the stage for shared success in the future.' He added that this recognition reaffirms the strength of the relations between the two nations and reflects the commitment of both sides to achieving development goals. He pointed out: 'together we will continue to chart a bright future of unique achievements that contribute to building solid foundations that support the achievement of our common goals, led by an ambitious strategic vision that strengthens the bonds of cooperation between the two countries in various fields.' H.E. Al Suwaidi also praised the organizers of the Abdul Latif Yousef Al Hamad Development Award for highlighting initiatives that address challenges facing the Arab world through innovation, calling the airport project a 'blueprint for sustainable impact'. Abdul Latif Al Hamad Award Quote Bader Al Saad, Director General and Chairman of the Board of Directors at the Arab Fund for Economic and Social Development, said that the Abdullatif Al-Hamad Award, aims to highlight the importance of Arab development efforts and encourage investment in economic and social development projects, especially those supported by the Arab Coordination Group. 'We are pleased that the Bahrain International Airport expansion and development project, funded by Abu Dhabi Fund for Development, has been selected for this award. it's the project has had a strong impact on Bahrain's economy, strengthened the country's strategic position in international air transport, increased passengers' traffic and airline use, and helped the airport's operating company secure US$ 250 million by 2024,' he added. Mohamed Yousif Al Binfalah, Chief Executive Officer of Bahrain Airport Company, expressed pride in the recognition of the Bahrain Airport Expansion and Development Project. He said: 'This award marks the success of Bahrain's strategic vision to develop vital infrastructure, made possible by careful planning, exceptional execution by Bahraini talent, and the strong partnership with national and regional institutions such as Abu Dhabi Fund for Development, which played a pivotal role in accelerating this project.' Al Binfalah added that this successful model of joint Arab cooperation shows that combining national will and capabilities with regional support is a powerful way to accelerate sustainable development. He emphasized that this honor goes beyond an urban achievement, reflecting a national success based on a clear future vision that places infrastructure development at the heart of its development priorities. It serves as an incentive to continue improving infrastructure and providing top-tier services in the aviation sector, reinforcing Bahrain's competitiveness on the regional and international stage. Bahrain International Airport a Symbol of Progress Since its ADFD-backed inauguration in 2014, Bahrain International Airport has emerged as a symbol of innovation and cultural pride. Blending Bahrain's heritage with cutting-edge infrastructure, the airport, the airport reinforces Bahrain's position as a global travel and trade hub, offering world-class security, efficiency and passenger services. Sustainable Legacy for Future Generations The development and expansion of Bahrain International Airport's, funded by ADFD, has established it as one of the world's most advanced and smart airports, achieving a sustainable impact across various aspects, including: Economic impact Bahrain International Airport serves as a cornerstone of of the Kingdom's economy, driving tourism, trade, and investment while streamlining import/export operations to bolster local industries. Bahrain Airport Company has achieved significant revenue growth in recent years, with continued growth expected. This will significantly contribute to supporting and boosting the Kingdom's non-oil revenues, which made up 86.4% of GDP in the third quarter of 2024. Social impact Bahrain International Airport enhances quality of life by facilitating cultural exchange and global connectivity, bridging Bahrain with the world and promoting social diversity. It creates opportunities for Bahraini youth through specialized training programs in aviation services, equipping them with critical skills for future leadership roles. To support the development of national talent in the Kingdom, Bahrain Airport Company launched the "Tahleeq" program to provide practical training for new graduates. This program has helped nearly 100 young men and women graduate, preparing them to become future leaders in the aviation sector and creating hundreds of job opportunities. Environmental Impact Bahrain International Airport is committed to enhancing environmental sustainability by balancing infrastructure development with environmental sustainability. It has been awarded the Leadership in Energy and Environmental Design (LEED) Gold certification as the largest green facility in Bahrain and achieved Level 4 "Transformation" certification under the International Airports Council's Carbon Accreditation Program. The airport has taken significant steps to mitigate the environmental impacts of aviation, including reducing energy consumption and improving energy efficiency through efficient cooling systems, saving 23% of energy. It has also used sustainable building technologies, promoted recycling, and implemented reverse osmosis systems to recover 30% of energy, further reducing its carbon footprint. It has also launched programs to reducing carbon emissions. Implementing Innovation Standards The airport infrastructure integrates cutting-edge technology to stay ahead of industry trends. This enhances operational efficiency and contributes to improving the passenger experience. The airport is among the most advanced in the region, relying on advanced biometric technologies for identity verification and smart security systems to ensure the highest levels of safety. It features 27 ICT (integrated information and communications technology) systems, 4,600 surveillance cameras, and 440 flight information screens supported by 1,125 km of fiber optic cables. The airport is the first in the region to offer a dedicated wireless communications network for operational purposes, enabling employees to communicate via advanced devices with clear voice and instant connectivity, improving response times and coordination between operational and security teams. Bahrain Airport Company continues to invest in advanced ICT solutions, including cloud communications systems and big data analytics, to improve operational and enhanced passenger service efficiency. ADFD Commitment to Global Sustainability ADFD financed 33 development projects in Bahrain totalling AED 23 billion, spanning housing, energy, transportation, health, and water sectors. The Fund will continue its pioneering work in supporting development at the local, regional, and international levels, aiming to create a more sustainable future for generations to come.
