General Authority of Civil Aviation signed here today an agreement with the International Finance Corporation of the World Bank Group to help mobilize investments for the construction of a new terminal at Prince Mohammad bin Abdulaziz Airport in Madinah. A speech ceremony was held on the occasion. President of the GACA Abdullah Rahaimi delivered a speech in which he thanked Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz and Crown Prince Sultan bin Abdulaziz, Deputy Premier, Minister of Defense and Aviation and Inspector General, for their support for the GACA to develop the civil aviation sector in the kingdom. Rahaimi stated that the GACA is passing through a transitional period in which work mechanisms, concepts and regulations are changed to keep pace with requirements of operation on commercial bases especially concerning international airports as is done regionally and internationally to achieve self-sufficiency in the coming years and to involve local, regional and international companies in this change to raise the level of services provided at the kingdom's airports, develop financial resources of the GACA and boost economic output of the state. IFC helps create jobs to improve lives, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing capital in the international financial markets, and providing advisory services to businesses and governments.
