The Arab Tourism Organization and BBK, which held their first Executive Board meeting at the BBK head office, in Manama, Kingdom of Bahrain, produced encouraging results with ATO eyeing $500million projects, initially.
Earlier this year, the two organizations signed a partnership agreement upon which BBK became the main consultant and one of the financiers of the Arab Tourism Organization, supporting tourism projects and investing in the local communities.
During the meeting, a number of projects were discussed, to be implemented soon such as the launch of funds to tackle the issues of poverty and unemployment through the development of local communities, and by investing in sustainable development and tourism projects, in addition to the launch of an investment guarantee mechanism through the Islamic Development Bank (IDB).
Other initiatives were discussed such as the creation of investment funds for the development of tourism, The Arab Village project as well as several schemes related to the time holiday business.
In a statement issued in Manama, Dr. Bandar Al Faheed, Executive Board Chairman said he hopes to initially launch investment projects worth $500 million.
The Executive Board praised the efforts and support of the Bahrain Government led by His Majesty King Hamad bin Isa Al Khalifa and HE Shaikha Mai bint Mohamed Al Khalifa, Minister of Culture and reaffirmed the keenness of BBK to review and develop tourism projects throughout the Arab world according to the strategy and plans of the Arab Tourism Ministers Council and Arab Tourism Organization.
The Executive Board has been formed during the meeting with the membership of the following Dr. Bandar bin Fahad Al Faheed, Board Chairman; Abdulkarim Bucheery, Deputy Chairman; Dr. Mohamed Al Tuwaijri, Arab League Assistant Secretary General; Ambassador Mohamed bin Abdulla Tasji, member and Organization’s representative; Reyadh Yousuf Sater, member and BBK representative; Jamal Mohamed Hijris, member and BBK representative; Ziad Azzam, member and BBK representative and Waleed Ali Al Hinnawi, Executive Board’s Reporter and Organization’s representative.