Saudi Arabia calls for global leaders to support World Bank fund, commits $100mn to close tourism financing gaps – Arabian Business

Saudi Arabia calls for global leaders to support World Bank fund, commits $100mn to close tourism financing gaps – Arabian Business

Saudi Arabia has demonstrated its commitment to closing the tourism sector’s financing gap and has now called on global leaders to support the World Bank’s Multi-Donor Trust Fund after pledging an initial contribution of $100 million to the fund – which will be formally established later in 2022.

The Saudi Minister of Tourism, Ahmed Al Khateeb, said: “The pandemic has reiterated the importance of tourism as a key enabler for economic growth and recovery. Our $100 million pledge will support vulnerable communities recover from the devastating impact of Covid-19 and other global shocks.

“We all have a role to play to accelerate recovery and achieve resilience, and international collaboration will be vital in ensuring the sustainable growth of the tourism sector. We invite donor countries and the private sector to contribute to building this trust fund and will continue to work collaboratively to ensure our sector remains a pillar of the world economy, bringing prosperity to our communities.”

Saudi Minister of Tourism, Ahmed Al Khateeb

The spring meetings of the World Bank Group convened ministers, governments officials, civil society representatives, and international media to discuss how to build