SHARAM-AL-SHEIKH, EGYPT, MAY 3, SPA -- PRINCE SAUD AL-FAISAL, THE FOREIGN MINISTER, SAID SAUDI ARABIA HAS BEEN FOLLOWING UP WITH A GREAT CONCERN THE DETERIORATING SITUATION IN IRAQ. SPEAKING HERE TODAY AT AN INTERNATIONAL CONFERENCE ON IRAQ, PRINCE SAUD SAID ENHANCING THE PILLARS OF SECURITY AND STABILITY REQUIRES UPROOTING VIOLENCE AND TERRORISM AS WELL AS REVIVAL OF THE STATE'S INSTITUTIONS. PRINCE SAUD CONFIRMED THE COMMITMENT OF SAUDI ARABIA TO EXTEND $1 BILLION FOR SUPPORTING THE RECONSTRUCTION EFFORTS IN IRAQ. HE NOTED THAT THE SAUDI DEVELOPMENT FUND HAS BEEN MAKING CONTACTS WITH THE IRAQI OFFICIALS IN THIS RESPECT. HE POINTED OUT THAT DUE TO THE DIFFICULTIES FACING IRAQ, SAUDI ARABIA HAS VOICED READINESS TO EASE ITS DUE PAYMENTS ON IRAQ. PRINCE SAUD SAID SAUDI ARABIA WILL TACKLE THE ISSUE OF DEBTS IN LINE WITH THE RULES AGREED ON AT PARIS INTERNATIONAL CLUB. THE SAUDI PRIVATE SECTOR HAS SHOWN READINESS TO POSITIVELY CONTRIBUTE TO THE RECONSTRUCTION OF IRAQ IN COOPERATION WITH OTHER COUNTRIES WHEN THE SUITABLE CIRCUMSTANCES EXIST, HE ELABORATED.--MORE www.spa.gov.sa/446438