IDB delegates briefed on Knowledge Economic City at Al Madinah

Published June 3rd, 2007 - 07:00 GMT

Delegates to the 32nd Annual General Meeting of Governors of the Islamic Development Bank in Dakar, Senegal, this week were well briefed on Knowledge Economic City Al Madinah.
As well as an-in depth article on Knowledge Economic City in the official meeting publication, all delegates received promotional literature about KEC as part of their information packs.
The IDB has all 56 Islamic countries as members and has the primary role of supporting economic development across the Muslim world.
Knowledge Economic City Marketing Director Mohammad Khoja said the support of the IDB is very important for KEC, and the prestigious organisation had already committed itself to fostering knowledge economies when it signed an MoU with Malaysian interests who had also signed with KEC in Jeddah earlier this year.
“The Annual General Meeting of Governors was a perfect opportunity to bring the IDB delegates up to speed with the rapid developments that have taken place with Knowledge Economic City in recent months, he said.

About Knowledge Economic City Al Madinah
Knowledge Economic City is the third of six economic cities announced by Amr al Dabbagh, Governor of the Saudi Arabian General Investment Authority (SAGIA).
The 25 billion Riyal (USD7 billion) project is located at Al-Madinah, the home of the Prophet (Peace Be Upon Him) where the Holy Quran was compiled. The project has special significance for Muslims throughout the world because of its location
Knowledge Economic City is designed as a project that will position Saudi Arabia and young Saudi Arabian entrepreneurs as internationally respected leaders in knowledge based industries and aims to attract and develop talent from around the world. It will provide them with opportunities on a global scale while providing investors and entrepreneurs with infrastructure, opportunity, a unique pool of talent and the potential for a healthy return on investment.
More than 20,000 jobs and accommodation for about 150,000 people will be created by the project which is expected to bring about 10 billion Riyals a year into the region once it is completed by 2020.



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