Regulatory Alerts2022-06-05
A circular dated June 5, 2022 regarding financing operations to increase the efficiency of internet speed within the initiative to replace and renovate tourist facilities.
On June 5th, 2022, during a session in Cairo, the CEO/Chairman of the World Tourism Organization (UNWTO) mentioned that according to the UNWTO's recorded data as of January 8th, 2020, the Bank's strategy for funding climate action and promoting sustainable tourism has been significantly expanded. They have organized various activities in the current year, with the aim to enhance the bank's role in providing funds and meeting the demands. The Board of Directors decided in November last year, and at its recent meeting on May 31st, to include measures to improve the efficiency of financial services and strengthen the internet-based component of the UNWTO's funding programs for climate action, as well as sustainable tourism infrastructure, with a return rate of 8%. I kindly ask you to adhere to these guidelines and appreciate your cooperation.