Saudi Arabia Allocates $400 million for Tsunami-hit Countries at Afro-Asia summit in

  • 12/15/2022
  • 22:14
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On the economic changes, Dr Al-Eiban called for exerting additional efforts for the acceleration of the process of economic development in the developing countries. He urged the developed countries to honor their commitments toward the developing countries, and to work for settling their debts problems. He also called for improving the investment atmosphere and enhancing the role that could be played by the private sector in the process of economic development. Dr Al-Eiban noted that the Kingdom of Saudi Arabia extended about $83.7 billion as assistance to the developing countries from 1973 to 2004. 'This assistance included non-repayable aid, soft development loans which benefited 73 developing countries in various continents of the word, notably in Africa and Asia," he disclosed. 'Moreover, the Kingdom has been playing a pioneering role in helping countries afflicted by natural disasters', he added.--SPA1545 Local Time 1245 GMT www.spa.gov.sa/257322

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