عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Fund for Development Inaugurates Al-Fateh Street Development Project in Bahrain

The inauguration was attended by several Bahraini ministers and senior Saudi and Bahraini officials. (SPA)
The inauguration was attended by several Bahraini ministers and senior Saudi and Bahraini officials. (SPA)
TT
TT

Saudi Fund for Development Inaugurates Al-Fateh Street Development Project in Bahrain

The inauguration was attended by several Bahraini ministers and senior Saudi and Bahraini officials. (SPA)
The inauguration was attended by several Bahraini ministers and senior Saudi and Bahraini officials. (SPA)

Saudi Arabia and Bahrain inaugurated on Thursday the “Al-Fateh Street” development project in Bahrain.

The inauguration was held in the presence of Bahrain’s Crown Prince and Prime Minister Prince Salman bin Hamad Al Khalifa, Bahrain’s Deputy Prime Minister Sheikh Khalid bin Abdullah Al Khalifa, and Chief Executive Officer of the Saudi Fund for Development (SFD). Sultan Al-Marshad.

The SFD contributed in financing the project through a grant provided by Saudi Arabia to Bahrain.

The inauguration was attended by several Bahraini ministers and senior Saudi and Bahraini officials.

The project will play a key role in reducing traffic along the Al-Fateh Street network. Additionally, it will contribute towards promoting greater investment opportunities in Bahrain, while stimulating the economy.

SFD has collaborated closely and effectively with the Bahraini Ministry of Works to realize the project that will accommodate approximately 140,000 vehicles per day.

Al-Fateh Street is as an essential component of Bahrain’s transportation network.

The project was inaugurated as part of the ongoing development cooperation between the two kingdoms that have been ongoing since 1976.

Over the years, SFD has contributed towards 30 major development projects in Bahrain, across diverse sectors including energy, transportation, communications and social infrastructure.

Most Viewed

 
 
Business

UN Launches Cairo Declaration to Address Hunger in Arab Region

Palestinian children wait for food at a distribution center in Deir al-Balah, Gaza Strip, Tuesday, Dec. 17, 2024. (AP Photo/Abdel Kareem Hana)
Palestinian children wait for food at a distribution center in Deir al-Balah, Gaza Strip, Tuesday, Dec. 17, 2024. (AP Photo/Abdel Kareem Hana)
TT
TT

UN Launches Cairo Declaration to Address Hunger in Arab Region

Palestinian children wait for food at a distribution center in Deir al-Balah, Gaza Strip, Tuesday, Dec. 17, 2024. (AP Photo/Abdel Kareem Hana)
Palestinian children wait for food at a distribution center in Deir al-Balah, Gaza Strip, Tuesday, Dec. 17, 2024. (AP Photo/Abdel Kareem Hana)

Rising conflicts, inflation, and climate change have worsened the food crisis in the Arab region, reaching record levels in 2023, according to six UN agencies.

The crisis now affects over 14% of the population, with early signs showing an even greater escalation this year.

To address this, the six UN agencies issued the “Cairo Declaration on Financing Agrifood Systems Transformation in the Near East and North Africa Region” on Wednesday.

The six UN agencies reaffirmed their commitment to working closely with development banks, the private sector, and national governments to boost financial resources for transforming food and agricultural systems in the Arab region, aiming to improve food security and nutrition.

These agencies—FAO, IFAD, UNICEF, WFP, WHO, and ESCWA—also proposed creating cooperative funding platforms, led by governments and developed with partners, to help meet the second Sustainable Development Goal of ending hunger.

The “Cairo Declaration” was issued alongside a joint report titled the 2024 NENA Regional Overview of Food Security and Nutrition. The report warned that the Arab region is still far from reaching its food security and nutrition targets for 2030.

In 2023, 66.1 million people—14% of the Arab population—were affected by hunger. The report showed that around 186.5 million people (39.4% of the population) faced food insecurity, with 72.7 million suffering from severe food insecurity.

Conflicts remain the main cause of food insecurity and malnutrition in the region, compounded by economic challenges, income inequality, and extreme weather events.

Food prices have worsened the crisis, with malnutrition rates in conflict-affected countries jumping to 26.4% in 2023—four times higher than the 6.6% in stable countries. Ongoing conflicts and droughts are expected to further degrade food security and nutrition.

FAO’s Assistant Director-General and NENA Regional Representative Abdulhakim Elwaer emphasized the need for improved public resource use and additional funding to positively impact food systems in Arab countries.

The agencies stress that the report’s findings will drive efforts to create more efficient, inclusive, and sustainable food systems in the region, benefiting both people and the planet.

Over a third of the Arab population struggles to afford healthy food, with 151.3 million people unable to cover basic nutritional needs. This issue is especially severe in conflict zones, where 41.2% of people can't afford a healthy diet.