Reflecting the Kingdom of Bahrain's robust partnership with the UAE, Bahrain Airport Company (BAC), the operator and managing body of Bahrain International Airport (BIA), announced that Abu Dhabi Fund for Development (ADFD) has been awarded the distinguished Abdul Latif Yousef Al-Hamad Development Prize, acknowledging its joint achievement through the Airport Modernization Program of BIA as the best development project in the Arab world for 2024.
The prize was received by Mohamed Saif Al Suwaidi, Director General of ADFD and BAC Chief Executive Officer Mohamed Yousif AlBinfalah at the Joint Annual Meeting of Arab Financial Institutions held by the Arab Fund for Economic and Social Development (the Arab Fund) earlier today in Kuwait.
The prize stands as a testament to the Kingdom of Bahrain’s visionary commitment to developing vital infrastructure and the pursuit of sustainable development goals.
The Airport Modernization Program of BIA was successfully completed on schedule and within the allocated budget of $1.1 billion, reflecting the strategic partnership and strong collaboration with ADFD.
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.
AlBinfalah said: "This achievement is an extension of the series of successes achieved by Bahrain International Airport since its launch in 2021. This success would not have been possible without the patronage and great support of His Majesty King Hamad bin Isa Al Khalifa, King of the Kingdom of Bahrain, and the continuous follow-up of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister."
"This distinguished accolade underscores Bahrain's strategic vision in advancing vital infrastructure. The project's success is a testament to the meticulous planning and exceptional execution by our skilled Bahraini professionals, coupled with the synergistic collaboration fostered with national and regional stakeholders, notably ADFD. Their support was crucial in expediting the completion of this national endeavour, transforming a long-held vision into a resounding reality that fills us with immense national pride," he stated.
AlBinfalah said: "This exemplary model of collaborative Gulf Cooperation Council efforts demonstrates that the synergistic integration of national capabilities with robust regional support represents a highly effective strategy for accelerating sustainable development."
On the key recognition, Al Suwaidi said: "We are deeply proud of the exemplary relationship we share with Government of the Kingdom of Bahrain, a bond cultivated over fifty years of mutual growth and prosperity. This historic partnership has fostered exceptional achievements across various economic sectors, making a substantial contribution to comprehensive development, fully aligned with Bahrain's Economic Vision 2030."
Executed to the highest international standards, BIA’s expansion realizes the Kingdom of Bahrain's vision to be a premier global hub for travel, tourism, and trade. This transformative project has increased capacity of the airport from 9 to 14 million passengers annually, encompassing a comprehensive modernization of facilities and services, enhanced operational efficiency, and a superior passenger experience. Demonstrating environmental commitment, the airport has achieved Gold LEED certification and implemented measures to mitigate the impact of aviation operations.
The Abdul Latif Yousef Al-Hamad Development Prize is given to the best economic and social development project in the Arab world, either partially or fully funded by a member of the Arab Coordination Group, while giving priority to joint Arab projects.
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 ADFD, 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 $250 million by 2024,” he added.-
TradeArabia News Service
