Latest news with #SalmanbinKhalifa
Biz Bahrain
20-06-2025
- Business
- Biz Bahrain
Bahrain and UK sign Second Strategic Investment and Collaboration Partnership (SIP2)
In the presence of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, and as part of HRH's official visit to the United Kingdom, the Kingdom of Bahrain and the United Kingdom signed the Second Strategic Investment and Collaboration Partnership (SIP2). The agreement was signed by Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, on behalf of Bahrain, and Rachel Reeves, Chancellor of the Exchequer, on behalf of the United Kingdom. Shaikh Salman bin Khalifa emphasised the strength of the longstanding relations between Bahrain and the United Kingdom, and the steady progress across various domains. He highlighted the mutual commitment to advancing cooperation, particularly in finance and economy. He noted that the SIP2 will support economic growth and job creation in both countries, particularly in shared priority sectors such as financial services, technology, industry, and decarbonisation efforts. As part of the partnership, the Bahraini private sector will invest £2 billion in the United Kingdom to support projects that contribute to carbon reduction and sustainable development. Shaikh Salman bin Khalifa highlighted that the agreement marks a new milestone in economic cooperation between the two countries. It also aligns with Bahrain's efforts to enhance a dynamic and attractive investment environment and boost the competitiveness of its national economy. He further noted that the UK's accession to the Comprehensive Security Integration and Prosperity Agreement (C-SIPA), following an invitation from Bahrain and the United States, will reinforce economic and strategic ties and create new opportunities that benefit both countries and their peoples. Shaikh Salman bin Khalifa underscored the importance of deepening strategic partnerships with allied countries to support sustainable growth, generate quality employment opportunities, promote innovation, and enable knowledge and expertise exchange. BNA(R)
Zawya
24-03-2025
- Business
- Zawya
KFAED, Bahrain sign $32.4mln loan deal for Sheikh Jaber Al-Ahmad Highway
MANAMA - The Kuwait Fund for Arab Economic Development (KFAED) and Bahrain's government signed on Sunday a loan agreement estimated at KD 10 million (about USD 32.4 million) to fund the second phase of developing the project of Sheikh Jaber Al-Ahmad Al-Sabah Highway. The project aims to back Bahrain's social and economic development through evolving one of the main vital highways in the capital. It is expected to partake in achieving some sustainable development goals, including infrastructure, and enhancing local cities and communities' sustainability as well as reducing carbon emissions caused by traffic. The scheme also includes expanding Sheikh Jaber Al-Ahmad Al-Sabah Highway from three to four lanes in each direction along 11 km, in addition to setting up five bridges. The scheme's total cost is evaluated at USD 404.4 billion, and the KFAED covers about 8 percent of this cost. Under the deal, the loan agreement, with a term of 20 years and a grace period of eight years, will be repaid in 24 semi-annual instalments. The loan carries an interest rate of three percent per annum, with an additional 0.5 percent per annum fee to cover administrative costs and services related to the loan agreement. It is the 22nd loan offered by the fund to Bahrain. The deal was signed by Acting Director General of KFAED Waleed Al-Bahar and Bahrain's Minister of Finance and National Economy Sheikh Salman bin Khalifa, in the presence of Kuwait's Ambassador to Bahrain Sheikh Thamer Jaber Al-Ahmad Al-Sabah. All KUNA right are reserved © 2022. Provided by SyndiGate Media Inc. (
