Then, Mohammed bin Abdullah Al-Jadaan, Minister of Finance, who is leading the Kingdom of Saudi Arabia's delegation to the summit, delivered the Kingdom's speech in which he conveyed the greetings of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Vice President of the Council of Ministers and Minister of Defense, to the participants and their wishes for all success in the summit. He also thanked Lebanese President Michel Aoun and the Lebanese government and people for a good reception and hospitality. Minister Al-Jadaan affirmed that the Kingdom of Saudi Arabia hosted the 4th Arab Development, Economic and Social Summit in Riyadh in 2013 and hosted the 29th Arab Summit in 2018 while the Custodian of the Two Holy Mosques named this summit as "Al-Quds Summit" which affirmed the Kingdom's support of the Arab joint action and issues. He added that Riyadh Development Summit issued a number of important decisions to support the Arab joint action, including the initiative of the Custodian of the Two Holy Mosques to increase the capital of the Arab joint financial institutions and companies with at least 50%. These increases with more than $7,500,000,000 have had a significant impact on strengthening the capabilities of these institutions and companies to enable them to meet the development needs of our countries. Al-Jadaan affirmed that the summit called to launch a funding program supporting intra-Arab trade under the umbrella of the International Islamic Trade Finance Corporation (ITFC), asserting that the Saudi chairmanship of the recent summit leads to achieve many resolutions issued by the 1st and 2nd development summits. He pointed out that the 4th Arab Development Summit is held in light of a number of Arab countries facing a number of challenges, affirming the importance of unifying efforts against any attempts to threaten security and stability in our countries. He stressed the necessity to promote inter-Arab trade, to strengthen the role of the Arab private sector and to adopt policies that stimulate inter-investment. The Minister of Finance pointed out that holding the development summit annually is difficult in light of the Arab ordinary summit, affirming that the Kingdom seeks to propose that the development summit is to be integrated within the Arab ordinary summit due to the importance of the economic and social issues. --More 17:23 LOCAL TIME 14:23 GMT 0014 www.spa.gov.sa/w823260