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    Qatar Tourism Launches Awards Programme to Celebrate Excellence in Tourism Industry

    Qatar Tourism, in partnership with the World Tourism Organization (UNWTO), has launched the Qatar Tourism Awards, a programme designed to celebrate and recognise the remarkable contributions made by businesses in delivering outstanding and distinct tourism experiences in Qatar.
    The Qatar Tourism Awards are designed to shed light on the factors that contribute to curating a visitor’s experience at every touchpoint of their journey, by awarding tourism businesses that continually achieve excellence in customer service delivery. This initiative aims to encourage all stakeholders who play a direct or indirect role in the delivery of tourism experiences to continue to develop and emulate exceptional initiatives characterised by uniqueness, sustainability, accessibility, and high-quality service.
    Chairman of Qatar Tourism and Qatar Airways Group Chief Executive, His Excellency Mr. Akbar Al Baker, said: “We are delighted to launch the Qatar Tourism Awards, which are designed to recognise the exceptional work of stakeholders in the tourism sector. Qatar is home to some of the world’s most iconic tourism experiences, and this is achieved by the vision, hard work, and dedication of the businesses and individuals in the tourism sector. Through this programme, we hope to inspire and encourage our partners to develop new and innovative initiatives that will continue to elevate Qatar’s reputation as a world-class tourism destination.”
    The Qatar Tourism Awards will focus on three principal categories: Cultural Experiences, Smart Solutions, and Service Excellence, which highlight the different aspects of the visitor experience.
    Entry to the Qatar Tourism Awards is open to all tourism businesses, operators, entrepreneurs, visitor attractions, organisations, and events that operate in Qatar and promote Qatar to a domestic and international audience. Submissions for the awards are now open, and winners will be announced in a special ceremony later this year. To apply, visit: Qatar Tourism Awards | Qatar TourismADVERTISEMENT

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    HOTEL DE LA VILLE CELEBRATES SEVENTY YEARS OF “ROMAN HOLIDAY”

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    CentaraThe1 Members Earn Double Turkish Airlines Miles

    Centara Hotels & Resorts, Thailand’s leading hotel operator, is offering CentaraThe1 and Turkish Airlines Miles&Smiles loyalty programme members the chance to exchange CentaraThe1 points for double Miles to be used on Turkish Airlines flights across Europe, Asia, Africa, Oceania and the Americas.
    This partnership highlights Centara’s continued efforts to expand its global network and enrich its robust Centara The1 loyalty programme benefits, affording more opportunities for its members to travel and explore the world. Turkish Airlines is the latest addition to Centara’s airline redemption partner network, which already includes Singapore Airlines and Qatar Airways. Centara The1 members now have more compelling reasons to earn points and even more exciting ways to burn them.
    From now until the 31 May 2023, Turkish Airlines is offering this special promotion whereby loyalty programme members will receive 300 Miles&Smiles Miles for every 5,000 CentaraThe1 points transferred from their CentaraThe1 Card member account to their Miles&Smiles member account via centaraThe1.com. More Miles means more possibilities for free flights, extra baggage allowance, seat upgrades and other exciting members-only perks.
    Sign-up to the CentaraThe1 loyalty programme is free and gives members access to exclusive privileges, including 15% off room rates, complimentary room upgrades, and the ability to earn points from eligible hotel and resort stays, dining, laundry services, and relaxing treatments at participating spa branches.
    For more information on this offer and how to convert CentaraThe1 points to Turkish Airlines Smiles&Miles, please visit https://centara1card.com/turkishairlines or https://www.turkishairlines.com/en-int/miles-and-smiles/program-partners/hotels/centara-hotels/ADVERTISEMENT

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    Accor and Erth Real Estate announce three new luxury hotels

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    Accor and Erth Real Estate announce three new luxury hotels

    Accor, a world-leading hospitality group, in partnership with Erth Real Estate Company, today announced that it will open three new hotels in Riyadh, Kingdom of Saudi Arabia, as part of a new master planned development project.The forthcoming luxury hospitality community will include a 230-key Raffles hotel, a 250-key Sofitel Serviced Residence, and a 60-villa MGallery resort, all set to open by 2027. The multi-faceted community will also include office towers, residential towers, and retail space, all built around a centrally located garden area.
    Erth Real Estate Company, the premium real estate developer across Saudi Arabia, is the owner and developer of the 4.2 billion Saudi Riyal mixed-use project at Al Yasmin District and has signed with Accor for hotel management within the two towers of this development. Accor will provide hotel management services and support from several brands within its world-leading brand portfolio.
    Raffles Riyadh and Sofitel Extended Stay at Al Yasmin District, both located at King Fahad Road intersecting with King Salman Road and Al Olaya Street, will reside within sparkling glass, 34-storey and 42-storey towers – creating an iconic presence in the city’s skyline. The towers, which will enjoy convenient 18-minute access to King Khalid International Airport by car, will have a clear view of KAFD, New Murabba, Avenues Mall, SAB Tower and Tamkeen Tower. Ample green space, including lush gardens, will also surround both buildings. MGallery Resort Riyadh, only 20 minutes away from Riyadh city center, will be developed in the Al Waseel district, where some luxury private resorts are located, and will be situated in a wadi surrounded by date farms. With 60 low-rise villas, it will be an ideal attraction for families and guests looking for a break from the busy city center and immersion into a vibrant neighborhood of Riyadh.
    Speaking at the signing event, Saud Abdullah Al Rajhi, the Group Managing Director of Erth Real Estate stated: “The company’s vision of becoming a preferred real estate brand in Saudi Arabia is fully aligned with leading first-class projects that meet market expectations and unleash the economic potential of the Kingdom. Therefore, Erth is pleased to expand its relationship with Accor by adding new assets to our hospitality portfolio.”
    “As part of Accor’s ultra-luxury division, Raffles is honored to soon open a second destination in the Kingdom of Saudi Arabia, particularly in Riyadh,” said Omer Acar, CEO Raffles & Orient Express. “As a brand that is highly selective of the destinations where we choose to develop, we are confident that vibrance and growth surrounding the city of Riyadh is the perfect location to offer our guests the true Raffles experience – one that is celebrated, authentic, and renowned for its legendary service. We look forward to welcoming new guests and those returning as family to Raffles Riyadh.”ADVERTISEMENT“On behalf of both the Sofitel and MGallery brands, we are delighted to contribute to a diverse community of luxury hospitality choices for business and leisure visitors, particularly those who wish to settle in and stay a little longer to enjoy the dynamic energy of the cosmopolitan city of Riyadh,” said Maud Bailly, CEO Sofitel, MGallery & Emblems. “As an ambassador of French culture around the world, Sofitel will bring the art-de-vivre that has been so successful at our two other Sofitel destinations in the Kingdom. Guests will also have the chance to discover the culture and a vibrant neighbourhood at the new MGallery, with the property providing sumptuous resort style villas and the luxury of feeling of a home away from home.”
    Erth’s new luxury hotels in Riyadh are being imagined by some of the world’s top designers. The lead architect is Foster + Partners, a global studio for sustainable architecture, urbanism, engineering, and design, founded by Norman Foster in 1967. With offices across the world, the practice works as a single entity that is both ethnically and culturally diverse. Additional consultants will provide expertise on spa, art, technology, and food & beverage.
    Erth’s relationship with Accor started a few years ago with a prestigious development in the region – Raffles Hotel and Residences Jeddah – which consists of two towers. In one tower, a world-class luxury hotel; in the other, a stunning set of exclusive private residences, unlike anything Jeddah has known before, set against a rich backdrop of Hejazi culture and tradition.
    Since the announcement of Saudi Arabia Vision 2030, Erth and Accor have both played a key role in the development of tourism through several existing and upcoming projects in key locations across the Kingdom. Accor has been present in Saudi Arabia for more than 20 years and has contributed to the development of the Holy destination of Makkah, counting over 9,000 rooms with direct access to the Haram.
    Within the Kingdom of Saudi Arabia, Accor currently operates 42 properties (16,000+ rooms) and has a robust development pipeline of 34 properties which will add approximately 7,000 rooms to the Group’s portfolio by 2027. Properties expected to arrive in the Kingdom in 2023 include the much-anticipated Raffles Jeddah, Fairmont Ramla Serviced Residences Riyadh, Sofitel Riyadh, Movenpick Waad Al Shamal-Turaif and Novotel Makkah Thakher City Residences. Among its Saudi Arabia portfolio, Accor is leading the way with positive hospitality experiences and environmentally sound development and operational practices. The new master-planned community in Riyadh will be developed with ethical, social, and environmental engagement that will contribute to a healthier environment while delivering value to its stakeholders, including the guests of the three new luxury hotels.

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    Rotana partners with Memar Development & Investment

    Rotana announced its ambitious pipeline across the Kingdom of Saudi Arabia at the Future Hospitality Summit (FHS) 2023, signing four “Edge by Rotana” and one “Rayhaan by Rotana” property in partnership with Memar Development & Investment, a leading real estate development company specialized in the hospitality development guided by the motto “Developing to enhance life”.
    Guy Hutchinson, President & CEO of Rotana, and Eng. Abdulaziz Al Meqren, CEO of Memar Development & Investment, were both present at the official signing of the agreement at FHS’s Global Stage on Tuesday, 9 May 2023.
    Commenting on the partnership, Hutchinson said: “Saudi Arabia presents one of the fastest-growing markets in the region, increasingly establishing itself as a leading tourist destination. These new properties located in the heart of Riyadh include a mix of hotels and serviced apartments, offering our guests diverse options to suit their varying needs. We are excited to partner with Memar Development & Investment on this project as we work together to deliver on Rotana’s singular brand promise of delivering ‘Treasured Time’ for all our guests.”
    The five new Riyadh properties will add 618 keys to Rotana’s growing portfolio. This is in line with the group’s target of adding triple the number of rooms it currently runs in the Kingdom to 6,000 over the next four years. The new Edge by Rotana properties will be interconnected, operating in synergy to ensure efficient workflow and deliver the ultimate guest experience. The properties will offer guests a range of dining options as well as recreational facilities such as pools, gyms, treatment rooms and more.
    Eng. Abdulaziz Al Meqren, CEO of Memar Development & Investment added “We are pleased to sign today with a leading hospitality brand with regional roots such as Rotana. This new development will provide visitors with various experiences gathered in one place. With a variety of dining and recreation facilities being developed across all five properties, residents and visitors of Riyadh will soon have a new place to discover in the city,”ADVERTISEMENTMakram El Zyr, Corporate Vice President – Development for Rotana added: “launched at ATM 2022, Edge by Rotana has seen tremendous development and is on track to reach its target of operating 30 Edge by Rotana properties across the region by 2027. Rotana has, to date, successfully opened three Edge by Rotana-managed hotels in the UAE – Arabian Park and Park Apartments in November 2022, and Damac Hills 2 in February 2023.”

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    MOL AND WIZZ AIR COMMERCIALLY TEST SUSTAINABLE AVIATION FUEL SUPPLY AT BUDAPEST AIRPORT

    Three Wizz Air flights took off from Budapest Airport with 37% blend of Neste MY Sustainable Aviation Fuel™produced from renewable waste and residue raw materials supplied by MOL
    MOL, in cooperation with Neste, Budapest Airport, RÜK (Airport Fuel Supply Kft.) and Wizz Air, today starts commercially testing its sustainable aviation fuel (SAF) supply chain.
    The project supports broader efforts in the aviation industry to reduce CO2 emissions and aims to prepare the fuel supply system at Budapest Airport ahead of the EU SAF blending mandates, which will be introduced in 2025.
    On 10 May, Wizz Air took off from Budapest Airport for the first time using a blend of Neste MY Sustainable Aviation Fuel™ supplied by MOL. During the SAF test, Wizz Air’s three newest Airbus A321neo aircraft were fuelled with a total blend of 23.5 tonnes containing 37% pure SAF and 63% Jet A1 fuel. The aircraft carried passengers from Budapest to Paris and several other European destinations.
    With these flights MOL, as the fuel supplier to Budapest Airport, and Wizz Air, Europe’s fastest growing and most sustainable airline globally*, have taken another step to reduce the environmental footprint of transportation fuels. The SAF is produced by Finnish company Neste from used cooking oil and animal fat waste. Using SAF reduces carbon emissions by up to 80% over the fuel’s life cycle compared to using fossil jet fuel.ADVERTISEMENTCsaba Zsótér, senior vice president of the MOL Group’s Downstream Fuels, said: “Our strategic goal is to kick-start Hungary’s circular economy and make our operations carbon neutral by 2050. We are constantly testing new technologies and developing our products to strengthen the region’s security of supply with low-carbon fuels and accelerate the green transition.  So far, we have mainly taken steps in road transport fuels. At the Danube Refinery, for example, we have been co-processing vegetable oils, used cooking oils and animal fats with fossil components since 2021 to produce more sustainable diesel. We are now moving into a new area, working with our partners to gain experience in aviation fuels to make aviation more sustainable. I am confident that the first SAF shipment, which is now being launched as a commercial test, will be followed by many more.”
    In the Danube Refinery, bio-based materials – vegetable oils, used cooking oils and animal fats – have been processed together with fossil components during fuel production, in order to produce more sustainable diesel since 2021. The recycling of waste is also supported. Since 2011, used cooking oil can be handed in at MOL filling stations.
    Wizz Air leads the industry by example and operates with the lowest carbon emissions per passenger/km against all competitor airlines. To achieve this, the airline has invested heavily in its fleet by adding new and replacing older aircraft with the Airbus A321neo aircraft. The Airbus A321neo aircraft incorporates the latest technology, offering significant environmental benefits and can currently fly with up to 50% SAF blend.
    Yvonne Moynihan, Corporate and ESG Officer at Wizz Air, said: “Today’s SAF test, which is ahead of the legislative mandates coming in 2025, demonstrates that industry collaboration is one of the most impactful ways to address the current climate challenge. While Wizz Air is already leading in sustainability with one of the world’s youngest aircraft fleets and highly efficient operations, the SAF initiative at Budapest Airport is a testament to our broader strategy, with alternative fuels playing a significant role. This marks further progress against our commitment to reduce our carbon intensity by 25% by 2030 and shows we remain laser focused on technology and innovation.”
    “It is a forward-looking, highly innovative, and long-awaited moment to see an aircraft being filled with sustainable aviation fuel here at Ferenc Liszt International Airport. Hundreds of thousands of litres of kerosene are consumed every day at Budapest Airport, and we would very much like to see an increasing proportion of sustainable aviation fuel being used to service flights as soon as possible,” said CEO of Budapest Airport, Chris Dinsdale said. He added: “Budapest Airport is doing a lot to make the airport as sustainable as possible, and we have reduced our direct emissions from operations by 65% in ten years. It is a key priority to achieve net zero emissions by 2035 at the latest, 15 years earlier than our previous commitment. However, in order to make the whole industry more sustainable and to further reduce emissions from aviation, the use of SAF is vital.”
    *According to the CAPA – Centre for Aviation Awards for Excellence 2022

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    The Bahamas Ministry of Tourism, Officials Attend 41st Caribbean Travel Marketplace

    Eleuthera, Bahamas wins CHTA Destination Resilience Category B Award. L-R: Nicola Madden-Greig President of The Caribbean Hotel & Tourism Association; Latia Duncombe, Director General, Bahamas Ministry of Tourism, Investments & Aviation and Vanessa Ledesma Acting CEO & Director General of The Caribbean Hotel & Tourism Association.
    This week, delegates from The Bahamas Ministry of Tourism, Investments & Aviation (BMOTIA), led by Director General Mrs. Latia Duncombe, attended the 41st edition of Caribbean Travel Marketplace, the Caribbean’s largest tourism marketing event.The meeting was hosted by the Caribbean Hotel and Tourism Association (CHTA) in Bridgetown, Barbados May 9-11.The Hon. Mia Mottley, Prime Minister of Barbados, opened the conference on Tuesday, 9 May addressing over 700 representatives inclusive of Tourism Ministers, executives, tour operators, suppliers and more. Keynote addresses continued highlighting the state of the industry by Nicola Madden-Greig, President of CHTA, Olivier Ponti, Vice President of Insights for ForwardKeys; the Hon. Kenneth Bryan, Tourism Minister for the Cayman Islands and Chairman of the Caribbean Tourism Organization (CTO); Charlie Osmond, Co-founder, Triptease.
    CHTA 2023 Destination Resilience Awards were also announced on Tuesday, with Eleuthera Island in The Bahamas being named as the winner in Category B – destinations with total stopover arrivals under 500,000. The Destination Resilience Awards were introduced during the Covid -19 pandemic and recognises destinations that used innovative and timely responses to the global pandemic that led to the island’s tourism recovery. Eleuthera demonstrated a commitment to a more sustainable future with initiatives undertaken by entities such as the Island School, Cape Eleuthera Institute, the Eleuthera Sustainability Council Cooperative Society and the Centre for Training Institute.
    “I am pleased to see the efforts to promote sustainability in The Bahamas and notably Eleuthera, recognised by the Caribbean community and rewarded with the Destination Resilience Award,” said Latia Duncombe, Director General, BMOTIA.
    BMOTIA representatives participated in over 40 meetings with prospective priority partners and media outlets to discuss new developments and the future of travel to The Bahamas.
    “There’s been a keen interest in our destination from European and Latin American representatives,” said Duncombe, “Our meetings with them have given way to new and strengthened strategic partnerships.”ADVERTISEMENTSaid Duncombe, “CHTA Marketplace has presented an unparalleled opportunity to engage in insightful discussions on the optimal use of Artificial Intelligence in capitalising on travel consumer behaviours. Such intelligence is invaluable to our overarching promotional strategy.”
    “We continuously see the value of the destination’s attendance at Caribbean Travel Marketplace,” she added.
    For more information on recent BMOTIA tourism efforts, please visit www.bahamas.com.

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    &BEYOND ANNOUNCES REFURBISHMENT OF WELL-LOVED ECO-LODGE

    Conservation-focused luxury travel company &Beyond has announced that one of its most iconic lodges, Phinda Forest Lodge, situated in &Beyond Phinda Private Game Reserve, KwaZulu Natal, South Africa, is due to undergo an extensive rebuild. The property, which was lauded as one of the first true eco-lodges at the time of its construction, will be reimagined within the context of the contemporary luxury safari, while retaining subtle references to its original ‘Zulu-zen’ décor with a new elegant and minimalist interior design.
    “&Beyond Phinda Forest Lodge was originally built in the early 1990s,” recalls Kevin Pretorius, &Beyond Managing Director for South Africa Lodges. “Back then, the lodge’s innovative and progressive design made a huge statement on sustainability, as it was sensitively constructed within the ancient sand forest with minimum impact at the heart of the project.”Pretorius continues, “Phinda, which started as an amalgamation of denuded farmlands in 1991, has grown into an extensive conservancy at the cutting edge of conservation, a modern example of Care of the Land, Wildlife and People. What was only our second owned and operated lodge following the birth of the company at &Beyond Phinda will now be reborn.”

    Interior designers Fox Browne Creative, who have previously worked on the refurbishments of the other five lodges on the reserve, are partnering with architectural designer Jack Alexander to reimagine and bring to life the new Phinda Forest Lodge in a design that will offer past guests the comfort and familiarity of one of their most loved lodges while also providing exciting improvements in room flow and functionality. Nestled inside 1 000 hectares (2 471 acres) of Africa’s last remaining dry sand forest in the north of &Beyond Phinda, the lodge embodies a commitment to minimise the impact on the environment. Its iconic rooms were built in perfect harmony with the existing flow of the forest and their design has stood the test of time. As such, the existing room structures will be used to redefine the new lodge in a way that will continue the legacy with which it was originally built.
    “The sand forest is one of Phinda’s most distinctive and delicate habitats. It occurs on deep sands, the leftover fossilised dunes of an earlier coastline,” explains Pretorius. Many of the plant species encountered in sand forest can be found nowhere else on earth. Normally shy mammals such as the red duiker, suni and Tonga red squirrel are often encountered in sand forest, and the area is also rich in birds, with several species restricted solely to this habitat.Due to the sensitivity of the habitat, the lodge refurbishment will utilise existing lodge and room structures to minimise impact associated with an entire rebuild, while also updating the architectural design and taking care not to detract from the essence of the lodge design and its original ‘Zulu-zen’ concept. Throughout the rooms and main guest areas, the interiors will be reimagined with new fixtures and finishes drawing inspiration from the surrounding sand forest, blending aspects of Japanese minimalism with an ode to local culture.ADVERTISEMENT
    Elements of the natural forest and Zulu culture will be brought into the room through the use of tactile textures and natural materials such as woven matting, textured grass cloth wallpaper, and hardwood floors, with natural stone tiling in the bathrooms. The intention is to reconfigure the room within the existing structure, creating a more comfortable layout that better utilises the existing space, while maximising the connection to the forest through wide open views.Phinda Forest Lodge has always provided &Beyond guests with an exclusive, private experience immersed in the sand forest, and this will be enhanced through the redirection and reduction of pathways to and from the rooms. In order to assist with the rehabilitation of the old pathways, we have established a nursery which will cultivate sand forest tree species to be planted along the trails.
    Major structural additions include a family suite, a library and lounge, a walkway with central fire pit linking the main area to the library, a newly reshaped and tiered pool, and significant upgrades to the main dining and bar areas. In keeping with the other lodges in &Beyond’s portfolio, the family suite will comprise a contemporary designed and decorated standard suite linked to a newly built second bedroom, which can be accessed privately or through an additional linked passageway.A new purpose-built building will contain the library and sitting room, centred around a reading table and double-sided fireplace with surrounding areas for guests to relax. Timber sliding doors will lead to an outdoor deck with its own shaded spaces, nestled among the trees with views of patches of forest and the wetland areas. The interior of the library and sitting room will combine elements of traditional Zulu culture with cosy minimalist elegance. A wooden walkway will seamlessly connect the library to a new pool area, which will include a reshaped and tiered swimming pool designed to maximize the scenic setting and timeless beauty of the sand forest. An all-new massage sala will also be constructed next to the pool.

    Other innovative additions will include a central fire pit that will be located between the library and main area, cast out toward the wetland and offering guests the opportunity to indulge in a fireside chat before and after dinner.“We are excited about the refurbishment of one of our most loved lodges, and we hope to welcome guests back to Phinda Forest Lodge as of 1 December 2023,” says Pretorius.“Phinda was where &Beyond’s vision and impact model were born,” he recalls. “Over the years, we have curated a set of unique, immersive experiences born out of this ethos, which guests at Phinda Forest Lodge will continue to have access to. These include experiences focused on the conservation of species such as white and black rhinoceros, as well as Temminck’s ground pangolin, and a unique Zulu Village Tour which allows guests to ethically immerse themselves in traditional Zulu culture.”
    Phinda is also uniquely positioned to offer other extraordinary adventure activities like diving or ocean safaris at nearby Sodwana Bay. Depending on the season, guests may also be able to enjoy expeditions to admire turtles nesting along the Indian Ocean coastline.With such a wealth and diversity of unique offerings, combined with the newly refurbished Phinda Forest Lodge, &Beyond are excited to continue bringing their guests experiences that go beyond the expectation of average luxury to leave our world a better place

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    IsDB President and Board of Governors Chairman Highlight Achievements

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    IsDB President and Board of Governors Chairman Highlight Achievements

    Islamic Development Bank (IsDB) President and Group Chairman, H.E. Dr. Muhammad Al Jasser, and Minister of Economy and Finance of the Republic of Benin who is also Chairman of IsDB Board of Governors, H.E. Romuald Wadagni,  addressed the media during a press conference held as part of the 2023 Annual Meetings of the IsDB Group taking place in Jeddah, Kingdom of Saudi Arabia, from 10-13 May.Opening the press conference, H.E. Dr. Muhammad Al Jasser expressed profound appreciation to The Custodian of The Two Holy Mosques, King Salman bin Abdulaziz Al Saud, for his patronage of the Annual Meetings. He also extended profound gratitude to His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia for the generous support and warm hospitality extended by the country’s government to the event and its participants. H.E. Dr. Al Jasser congratulated H.E. Wadagni on his chairmanship of the Board of Governors of the IsDB and commended his exemplary leadership during the current tenure of the Board.  Speaking on the Islamic Development Bank’s vision and objectives as a leading AAA-rated multilateral development bank (MDB), H.E. Dr. Al Jasser highlighted the role the Bank plays in improving the lives of people in its member countries and Muslim communities worldwide, by promoting social and economic development and delivering impact at scale. Established in 1975, the Bank currently serves its 57 member countries from four continents, in addition to Muslim communities from non-member countries – through their respective governments – and its operations impact one-fifth of the world’s population.H.E. Dr. Al Jasser said that IsDB Group’s net financing for various sustainable development programs and initiatives since its establishment until 2022 amounted to a total of US$ 170.5 billion. Its annual net approvals increased by 18.5% to reach US$ 10.5 billion in 2022, up from US$ 8.9 billion in 2021. Various economic sectors received IsDB Group’s financing support during the past year, including energy (40.8%), industry and mining (14.4%), agriculture (12.6%), finance (8.6%), transportation (8.5%), water and sanitation (4.8%), health (3.6%), education (3.2%) and others (3.5%).Shedding light on the Bank’s achievements, H.E. Dr. Al Jasser explained that IsDB maintained its ‘AAA’ credit rating with a stable outlook in 2022. He asserted that it was the 26th time that the Bank has achieved this outstanding rating from S&P Global Ratings, the 16th time from Moody’s, and the 15th time from Fitch Ratings.For his part, H.E. Wadagni commented: “On behalf of the Board of Governors of the IsDB, I commend the Management and Board of Executive Directors for their deep commitment to supporting member countries to achieve sustainable development. Their visionary thinking and thorough understanding of the pertinent and emerging development challenges facing member countries prompted the realignment of the strategic vision of the IsDB Group to focus on promoting comprehensive human development and sustainable infrastructure toward boosting economic recovery, tackling poverty, building resilience, and driving green economic growth.”The Board of Governors of IsDB is the highest authority of the Bank. Each member country of the Bank is represented on the Board with a Governor and an Alternate Governor. The Board meets once a year to consider and approve the financial statements for the previous fiscal year, appoint external auditors, and lay down the future policies of the BankHeld under the theme of “Partnerships to Fend off Crises,” the four-day 2023 IsDB Group Annual Meetings have brought together policymakers, business leaders, senior executives and attendees representing more than 100 countries at the King Abdullah Congress Center – The Ritz-Carlton Jeddah. The 2023 edition of IsDB Group annual meetings seeks to provide an engaging, solution-oriented platform for participants to discuss current financial, economic and development issues faced by IsDB Group member countries and its partners.

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