PIF Unveils Innovative Qiddiya Project Logo

The Qiddiya city logo.
The Qiddiya city logo.
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PIF Unveils Innovative Qiddiya Project Logo

The Qiddiya city logo.
The Qiddiya city logo.

The Saudi Public Investment Fund revealed the logo of the Qiddiya Project that plans to build the largest cultural, recreational and sports city in the Kingdom. The design of the innovative logo reflects the unique geography of the region where the city will be established.

The Qiddiya project was announced earlier this year.

The city will be constructed 40 kilometers away from central Riyadh in the Qiddiya region..

The design of the logo was inspired from the breathtaking Tuwaiq mountain range in the Qiddiya region that will overlook the city once it is complete. The lines of the logo reflect the abilities of the residents of the Kingdom and their vibrant colors represent the residents’ diverse capabilities and identities. The logo embodies the project’s goal of providing special recreational destination for Saudis where they will be able to unleash their talents in various fields.

The Qiddiya project highlights the heritage of the region and reflects the beauty of the location that will become an important landmark that will meet the demands of the Kingdom’s recreational, cultural and social needs.

Qiddiya city is one of the significant investment initiatives that provides a diverse number of recreational venues. It also supports the Saudi Vision 2030 that aims at diversifying the sources of national income, bolster the Kingdom’s economy and create job opportunities for the local youth.

Qiddiya city allows visitors to enjoy a number of recreational and educational activities through six main venues that include an amusement park, sports arenas, racing rings, water and snow games, gorgeous natural vistas and several cultural and heritage centers.

Construction of Qiddiya city is expected to begin in 2018 and the first phase of the city will be opened in 2022.



IMF Sees 'Some Progress' on Lebanon Reforms, But Says External Support Needed

People enjoy the sunset at Ramlet Al Bayda seaside in Beirut, Lebanon, 27 May 2025.  EPA/WAEL HAMZEH
People enjoy the sunset at Ramlet Al Bayda seaside in Beirut, Lebanon, 27 May 2025. EPA/WAEL HAMZEH
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IMF Sees 'Some Progress' on Lebanon Reforms, But Says External Support Needed

People enjoy the sunset at Ramlet Al Bayda seaside in Beirut, Lebanon, 27 May 2025.  EPA/WAEL HAMZEH
People enjoy the sunset at Ramlet Al Bayda seaside in Beirut, Lebanon, 27 May 2025. EPA/WAEL HAMZEH

Lebanon has made progress on reforms needed to revive its economy but still has key steps to take and will need external funding on concessional terms, the International Monetary Fund (IMF) said on Thursday after a week of meetings in Beirut.

Lebanon's economy went into a tailspin in late 2019, prompted by decades of profligate spending by the country's ruling elite.

Reforms required to access IMF funding were repeatedly derailed by political and private interests, according to Reuters.

Lebanon's President Joseph Aoun and Prime Minister Nawaf Salam, both of whom took office in early 2025, pledged to prioritize reforms and secure an IMF financing agreement - but the country now faces additional needs with the widespread destruction and displacement caused by Israel's military campaign last year.

“The authorities have made some progress recently, including the amendment of the Bank Secrecy Law and submission of a new bank resolution law to Parliament,” the IMF's Lebanon mission chief Ramirez Rigo said in a written statement.

Rigo added that his mission held “productive discussions” with Lebanese officials, including on restoring the viability of the banking sector, fiscal and debt sustainability and enhancing anti-money laundering and terrorism financing measures.

He said Lebanon's medium-term fiscal framework should support the restructuring of Eurobond debts, which Lebanon defaulted on in 2020, leading to a sovereign default on its $31 billion of outstanding international bonds.

“Given Lebanon's substantial reconstruction needs, limited fiscal space and lack of capacity to borrow, the country will require significant support from external partners on highly concessional terms,” the IMF statement said.

The World Bank estimated Lebanon's recovery and reconstruction needs following Israel's military campaign at $11 billion. But the US has said it opposes any reconstruction funds to Lebanon until Hezbollah - the Iran-backed Lebanese armed group that fought Israel last year - is disarmed.