Saudi Arabia, World Bank explore areas of cooperation

World Bank President Ajay Banga called on Crown Prince Mohammed bin Salman on Tuesday. SPA
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Updated 24 October 2023
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Saudi Arabia, World Bank explore areas of cooperation

RIYADH: Saudi Arabia and the World Bank explored areas of cooperation during a high-level meeting, the Saudi Press Agency reported.

World Bank President Ajay Banga called on Crown Prince Mohammed bin Salman on Tuesday.

During the meeting ways to reduce poverty, boost shared prosperity, and promot sustainable development were discussed.

It took place on the sidelines of the first day of the Future Investment Forum and was attended by Commerce Minister Majid bin Abdullah Al-Qasabi and Finance Minister Mohammed Al-Jadaan. 

It also witnessed the participation of the governor of the Public Investment Fund, Yasir Al-Rumayyan, and the adviser at the royal Court, Abdulaziz Tarabzouni.

Last month, Banga said proposed new contributions from wealthy countries combined with balance sheet changes could boost the bank’s lending capacity by $100 billion to $125 billion over a decade.  

During a Council on Foreign Relations event, Banga noted that these contributions would come outside the bank’s normal shareholding structure and regular country contributions to the International Development Association, which aids the world’s poorest countries.  

“I believe that if all this goes through, including the US, we could raise somewhere between $100 billion and $125 billion of extra lending capacity in the bank, which is pretty good. Not enough, but good,” Banga said at the time.


KAIA records busiest week with new operational records

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KAIA records busiest week with new operational records

JEDDAH: King Abdulaziz International Airport started 2026 on a strong note, handling 5.45 million passengers in January, a 7.3 percent increase over the same month last year.

Flight movements reached 29,200, up 11 percent, while total baggage throughput rose 8 percent to 6.6 million items.

The airport recorded its busiest operational week from Jan. 11 to 17, serving 1.28 million travelers.

Passenger numbers peaked on Jan. 17, marking the airport’s busiest day ever with 195,300 travelers and 1,089 flights, underscoring the efficiency of its operations and the capacity of its infrastructure to accommodate growing travel demand.

These results reflect Jeddah Airports Co.’s ongoing efforts to enhance the passenger experience, expand travel options, and manage rising air traffic in line with the National Aviation Program and Saudi Vision 2030.

Since its establishment in 2022, the company, known as JEDCO, has overseen the management and operations of KAIA, driving the implementation of the Aviation Program under the National Transport and Logistics Strategy.

In 2025, the airport reached a historic milestone, welcoming 53.4 million passengers, the highest annual total ever recorded at a Saudi airport, placing it among the world’s mega airports in terms of traffic.

The airport handled a total of 310,000 flights and 60.4 million bags, representing a 12 percent increase compared to 2024. It also handled 9.57 million Zamzam water containers and 2,968 cargo flights.

This achievement reflects the airport’s qualitative transformation and its position as a regional hub and national gateway connecting the Kingdom to the world. It also highlights its role in facilitating the movement of visitors and pilgrims, promoting tourism in line with the goals of Vision 2030, diversifying the economy, and providing a distinguished travel experience.

The January milestone at KAIA is part of a broader success story for Saudi airports, with 2025 statistics showing unprecedented growth in the Kingdom’s air traffic, surpassing regional averages and cementing Saudi Arabia’s status as one of the world’s fastest-growing and most advanced aviation markets.

Passenger numbers rose 9.6 percent, fueled by tourism, international events, and expanding global connectivity.

This growth reflected both increased capacity and enhanced connectivity, with Saudi airports handling approximately 140.9 million passengers, 76 million international and 65 million domestic passengers. Flight movements rose 8.3 percent to around 980,400, highlighting the sector’s sustained recovery.

KAIA accounted for 38 percent of total passenger traffic, averaging 146,000 passengers daily and operating at 107 percent of capacity. King Khalid International Airport handled 29 percent of passengers, with a daily average of 112,000. Madinah and Dammam airports also recorded historic surges, operating at 137 percent and 112 percent of capacity, respectively.