Batelco and Bahrain development bank sign MoU

Bahrain's leading integrated telecommunication services provider Batelco and key development financial institution the Bahrain Development Bank (BDB) have signed a strategic Memorandum of Understanding (MoU) to explore collaborations that support local Information Communication Technology (ICT) entrepreneurship initiatives and projects. The collaboration between Bahrain's two major organisations will benefit the Kingdom as they work together to support local ICT entrepreneurial projects, the Bahrain Bourse said in a media statement. Batelco Bahrain Chief Executive Rashid Abdulla said that Batelco is delighted to announce the co-operation with the BDB to expand Batelco's aspirations in the field of ICT entrepreneurship projects. This co-operation is one of many initiatives that Batelco is currently working on to support local talent and encourage entrepreneurs. "The BDB is well known for its support and efforts to encourage entrepreneurs who are striving to evolve their innovative projects and initiatives," he said. Bahrain Development Bank Chief Executive Officer Nedhal Al Aujan said, "Our agreement will serve as a tool to support youth projects and innovative excellence in the telecommunications and information technology sector. "Through this agreement, we will be providing additional programmes and support to entrepreneurs through the establishment of new projects within the information and telecommunication technologies domain as well as further development of existing projects," he added.