Saudi Fund for Development Signs a $10 Million Loan Agreement to Construct Business Incubation Centers in the Bahamas
21.7.2023 16:51:00 EEST | Business Wire | Press release
The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed the first development loan agreement worth $10 million in SFD’s headquarters in Riyadh with Hon. Isaac Chester Cooper, Deputy Prime Minister and Minister of The Bahamas Ministry of Tourism, Investments & Aviation.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230721961355/en/
(from left to right) Deputy Prime Minister and Minister of The Bahamas Ministry of Tourism, Investments & Aviation, Hon. Isaac Chester Cooper & The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad. (Photo: AETOSWire)
The agreement involves the construction of business incubation centers across three islands in the Bahamas to support the growth of tourism, and signifies SFD's commitment to supporting sustainable economic development in developing countries and Small Island Developing States (SIDS) around the world. The signing marks SFD’s first presence in the Bahamas, making it the 89th country to receive funding for a development project from SFD.
The loan will facilitate the establishment of dedicated business incubation centers across three islands to support new business projects. Specifically, these will accommodate 50 small businesses on Nassau Island, 25 small businesses on Exuma Island, and 25 small businesses on Grand Bahama Island.
The project is poised to enhance the tourism sector in the Bahamas, create direct and indirect job opportunities, and contribute towards realizing the United Nations' Sustainable Development Goals (SDGs), specifically SDG 8, Decent Work and Economic Growth, and SDG 9, Industry, Innovation, and Infrastructure.
On this occasion, Hon. Isaac Chester Cooper, Deputy Prime Minister and Minister of The Bahamas Ministry of Tourism, Investments & Aviation, said: "This agreement marks a significant step in our nation's journey towards sustainable growth, with the support of Saudi Arabia through the Saudi Fund for Development. The upcoming business incubation centers will act as catalysts for our aspiring entrepreneurs and help to accelerate job creation and enhance our tourism sector. This partnership reflects a shared vision of prosperity and development."
On his part, H.E. Sultan Al-Marshad, Chief Executive Officer of the Saudi Fund for Development, said: "SFD is committed to promoting sustainable socio-economic development in developing nations and Small Island Developing States, while supporting the journey to achieving the United Nations’ Sustainable Development Goals. This project promises to nurture entrepreneurship in the Bahamas and stimulate economic growth through the provision of new business and job opportunities in the tourism sector. The agreement further solidifies our commitment to achieving a shared, prosperous, and sustainable future for developing countries worldwide.”
Source: AETOSWire
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230721961355/en/
Contact information
Nawaf Alojrush
alojrush@sep.gov.sa
00966506110244
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Biocytogen Announces FDA IND Clearance for Partner NEOK Bio’s NEOK002 Targeting Solid Tumors27.3.2026 02:00:00 EET | Press release
Biocytogen Pharmaceuticals (Beijing) Co., Ltd. (Biocytogen, SSE: 688796; HKEX: 02315), a global biotechnology company that drives the research and development of novel antibody-based drugs with innovative technologies, today announced that its partner NEOK Bio, Inc. recently received clearance from the U.S. Food and Drug Administration (FDA) of an investigational new drug (IND) application for NEOK002, an EGFR/MUC1-targeting ADC program for solid tumors. NEOK Bio plans to initiate a Phase 1 clinical study in the second quarter of 2026 and expects to report initial data in 2027. This IND clearance marks an important milestone for NEOK002, an EGFR/MUC1-targeting ADC candidate developed by NEOK Bio and built on a bispecific antibody originally developed by Biocytogen and licensed in 2024. According to NEOK Bio, NEOK002 is being advanced for solid tumors and may offer differentiated efficacy and safety compared with monospecific ADC approaches directed at either target alone. Dr. Yuelei Sh
Spring is in Full Bloom at the Empire State Building with New Festive Experiences, Sweet Treats, and Seasonal Tower Lighting26.3.2026 22:30:00 EET | Press release
Spring is in full swing at the “World’s Most Famous Building.” The Empire State Building (ESB) today announced a vibrant lineup of spring events in NYC, which include special experiences, treat pop-ups, and an iconic tower lighting that captures the joy and color of the beautiful season. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260326216271/en/ Spring is in Full Bloom at the Empire State Building with New Festive Experiences, Sweet Treats, and Seasonal Tower Lighting “The Empire State Building Observation Deck has transformed into a celebration of the season and one of the best things to do in NYC this spring,” said Dan Rogoski, observatory general manager. “Whether it’s views beside our butterfly installation, sweet pop-ups, or a chance to spot the Easter Bunny, there is something special for every visitor.” Flutter of Color: The Empire State Building installed a brand-new photo opportunity on the 86th Floor Observati
Venture Global and Edison Announce Calcasieu Pass Arbitration Settlement26.3.2026 22:15:00 EET | Press release
Today, Venture Global and Edison jointly announced the signature of a commercial agreement for the settlement of the pending arbitration between the two companies concerning the Calcasieu Pass project. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260326559130/en/ Completion of the settlement is expected by the end of Q2 2026, at which point the arbitration will be terminated. The agreement fully resolves the arbitration in its entirety. As part of the settlement, Edison and Venture Global have also agreed to the delivery to Europe of additional cargoes beyond those envisaged under the long-term contract, to support gas supplies primarily to the Italian market. The first delivery is scheduled for May 2026, in Italy, at the Adriatic LNG Terminal. The agreement represents a significant step in strengthening commercial cooperation between the parties and it establishes a foundation for further future deliveries in the context
Reply Recognized as a Microsoft Frontier Partner for Enterprise AI Delivery26.3.2026 20:06:00 EET | Press release
Reply [EXM, STAR: REY] announces it has been recognized as a Microsoft Frontier Partner within the Microsoft AI Cloud Partner Program, earning the Frontier Partner Badge for demonstrating advanced capabilities in delivering AI-first solutions across Cloud & AI Platforms, AI Business Solutions, and Security. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260326965586/en/ The recognition reflects Reply’s capabilities across the Microsoft ecosystem, built through the work of its specialized companies – including Aim Reply, Business Elements Reply, Cluster Reply, Root16 Reply, Solidsoft Reply, Valorem Reply, WM Reply and Zest Reply – supporting enterprise organizations in designing, implementing, and operating AI solutions on Microsoft platforms across real-world business scenarios. The Frontier Partner badge recognizes partners that demonstrate advanced AI driven capabilities and meet rigorous badge requirements at the time of
InterSystems nimittänyt terveydenhuoltotoiminnan johtajaksi tohtori Tim Ferrisin, entisen NHS- ja Mass General ‑johtajan26.3.2026 20:00:00 EET | Tiedote
InterSystems on luovien datateknologiaratkaisujen tarjoaja, jonka ratkaisuihin on tallennettu yli miljardi terveystietotietuetta maailmanlaajuisesti. Yritys ilmoitti tänään nimittäneensä terveydenhuoltotoiminnan johtajaksi lääketieteen tohtori Tim Ferrisin. Nimityksestä ilmoitettiin samaan aikaan, kun terveydenhuoltoalan johtajat kokoontuvat vuoden 2026 HIMSS Global Health Conference & Exhibition ‑tapahtumaan. Roolissaan Ferris pääsee soveltamaan kattavaa toimialakokemustaan, kun hän ohjaa yrityksen terveydenhuoltoratkaisujen kliinistä ja strategista suuntaa maailmanlaajuisesti. Laajan kokemuksensa turvin hän toimii maailmanlaajuisten terveydenhuoltojärjestelmien ja hallitusten strategisena neuvonantajana ja suunnittelee räätälöityjä teknologiaratkaisuja, jotka perustuvat todellisiin johtotason tarpeisiin. Samalla hän edistää akateemista tutkimustaan terveysdata-arkkitehtuurista sekä johtaa julkista keskustelua tekoälyn ja hoidon tarjoamisen yhdistämisestä. Ferris tuo InterSystemsiin a
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom