Iraq’s International Development Bank signs agreement with ATO
The headquarters of the Arab Tourism Organization. Photo: Al-Mal News
Baghdad (IraqiNews.com) – The Arab Tourism Organization (ATO) and the International Development Bank in Iraq signed a cooperation agreement to promote tourism in the region.
The President of the ATO, Bandar bin Fahd Al-Fuhaid, and the Chairman of the International Development Bank, Ziad Khalaf, signed a deal to create a visa prepaid travel card and finance tourism-boosting efforts in Arab countries, according to the Saudi Press Agency (SPA).
“The ATO intends to use the Itqan Tourist Development Fund in Jeddah to invest $1 billion in tourism-related initiatives throughout the region over the next two years,” Al-Fuhaid elaborated.
The President of the ATO indicated that the organization is interested in the growth of rural tourism in particular.
Al-Fuhaid highlighted the significant contribution that the governments of Arab countries provide to the development of the tourist industry.
Through its global network of banks and associated institutions, the International Development Bank, according to Khalaf, aims to offer financial solutions that satisfy the needs of clients in the region, including businesses, small and medium-sized enterprises, and individuals.