Saudi Arabia’s Red Sea Tourism Project Aims to Plant over 15 Mln Plants

A view of the giant planting project of the Red Sea tourism project in western Saudi Arabia. (SPA)
A view of the giant planting project of the Red Sea tourism project in western Saudi Arabia. (SPA)
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Saudi Arabia’s Red Sea Tourism Project Aims to Plant over 15 Mln Plants

A view of the giant planting project of the Red Sea tourism project in western Saudi Arabia. (SPA)
A view of the giant planting project of the Red Sea tourism project in western Saudi Arabia. (SPA)

The Red Sea Development Company (TRSDC), the operator of the giant Red Sea tourism project in western Saudi Arabia, seeks to plant more than 15 million plants and saplings to enrich the green cover in the project’s environment, through its one-million square meters nursery.

Head of Corporate Environment and Sustainability at TRSDC Raed al-Baseet confirmed that environmental monitoring is the permanent companion for the project from the planning, initial and construction phases until its completion.

The company is seeking to increase the percentage of seaweeds that absorb carbon dioxide and increase the percentage of mangrove trees and coral reefs.

“This is in addition to its endeavors to identify areas with high environmental values, something that the company has already achieved through approving the development of 22 islands out of 90 at the location to make them a tourist destination with a different environmental character.”

Since the beginning of the project, the area was designed to become a destination for renewable tourism with its sensitive ecological system, said Baseet.

“To ensure achieving ecological diversity and balance, which we aspire to realize by 2040, we have conducted comprehensive ecological surveys for all the lands of the project, taking into consideration the long-term environmental impacts of the operational actions of the scheme,” he noted.

The ecological team at the company plays a vital role in most aspects of the project and focuses on enhancing the environment through choosing the proper engineering designs and abiding by environmental considerations, according to Baseet.

He indicated that these considerations were either adopted before or after any phase of developing the project, noting that the team cooperated with relevant external organizational bodies to guarantee the implementation of sustainable commitments in the project in an appropriate manner.

As for ecological initiatives, Baseet said that the company had launched the “Blooming the Red Sea” initiative that was implemented in cooperation with the National Center for Vegetation Cover and Tabuk University.

The initiative is working to incubate 17,000 saplings of local plants in the nursery, through which the company trained university student volunteers to take care of the saplings until they are grown enough to be planted at the project location.

Baseet noted that the company has also contributed to the Green Saudi Arabia and Middle East Green Initiatives that aim to reduce carbon emissions, decrease noise, achieve ecological balance, provide natural environments and safe havens for organisms, and improve natural views.

In February 2020, the company inaugurated the project’s nursery, which is the largest in the region, to plant whatever can serve the environment of the project.



Egypt, IMF Hold New Discussions to Alleviate Citizens’ Financial Burdens

Sisi and IMF Managing Director Kristalina Georgieva. (Reuters file photo)
Sisi and IMF Managing Director Kristalina Georgieva. (Reuters file photo)
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Egypt, IMF Hold New Discussions to Alleviate Citizens’ Financial Burdens

Sisi and IMF Managing Director Kristalina Georgieva. (Reuters file photo)
Sisi and IMF Managing Director Kristalina Georgieva. (Reuters file photo)

Egypt and the International Monetary Fund (IMF) have agreed to review their joint credit facilitation program to ensure that no additional burdens are placed on citizens.

Egyptian Prime Minister Mostafa Madbouly reiterated the government’s commitment to “maintaining a flexible exchange rate in coordination with the central bank to safeguard the progress achieved in this area.” He expressed hope that the meetings with the IMF delegation in the coming days would “conclude the fourth review of the economic reform program.”

Following a meeting on Sunday between President Abdel Fattah al-Sisi and IMF Managing Director Kristalina Georgieva in Cairo, the Egyptian Presidency announced that Georgieva expressed her “full understanding of the significant challenges Egypt faces amid regional and global developments.”

In March, Egypt signed an $8 billion extended financial support package with the IMF, which requires reducing subsidies on fuel, electricity, and essential goods and allowing the Egyptian pound to float.

In late October, Sisi warned that his government might need to reassess its program with the IMF if international institutions do not account for the extraordinary regional challenges the country is facing. He cited a nearly 60% drop in Suez Canal revenue due to security tensions in the Red Sea as an example.

During the meeting with Georgieva, Sisi expressed Egypt’s commitment to continuing its cooperation with the IMF, building on progress to boost economic stability and reduce inflation. However, he stressed the need to acknowledge recent challenges Egypt has faced due to regional and international crises, which have impacted foreign currency reserves and budget revenues.

Sisi reiterated that the government’s primary focus is on alleviating pressures on citizens, particularly by controlling inflation and curbing rising prices, while also continuing efforts to attract investments and empower the private sector to drive employment and growth.

Georgieva, in turn, commended Egypt’s recent efforts and the reform program being “carefully implemented with a focus on the most vulnerable.” She highlighted the progress in macroeconomic indicators despite unprecedented current challenges, noting that this has been reflected in positive assessments from international credit rating agencies, improved credit ratings, and increased investments.

She expressed her “full understanding of the significant challenges Egypt faces amid regional and global developments” and emphasized the IMF’s commitment to working with the Egyptian government to identify optimal reform paths.