Saudi Cabinet announces KSA’s $1bn pledge for Iraq reconstruction projects

King Salman presides over a cabinet meeting in Riyadh, Saudi Arabia. (REUTERS)
Updated 21 February 2018
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Saudi Cabinet announces KSA’s $1bn pledge for Iraq reconstruction projects

RIYADH: The Saudi Cabinet has expressed the Kingdom’s eagerness for stability in Iraq and its permanent stand with all its sects and parties based on the teachings of Islam and the two countries’ historic relations.
Chaired by King Salman at Al-Yamamah Palace on Tuesday, the Cabinet also announced the allocation of $1 billion for the reconstruction projects in Iraq in addition to another $500 million to fund Saudi exports to the country during the Kuwait International Conference for Reconstruction of Iraq.
The Cabinet praised a statement from the foreign ministers of global coalition countries fighting the Islamic State of Iraq and the Levant (popularly known as Daesh) and their determination to continue fighting and eradicating the terror group.
The Cabinet also appreciated the coalition’s efforts and cooperation to cope with developments and find the best means to deal with threats posed by Daesh.
The Cabinet also renewed the Kingdom’s condemnation of the recent suicide attack in Maiduguri, Nigeria, and the shooting incident at a church in Dagestan, Russia, and offered condolences to the families of the victims.
Later, the Cabinet approved three agreements on political consultations, the Saudi-Korean Vision (2030) and air transport services between the Kingdom and the governments of New Zealand, South Korea and Australia.


Saudi defense partnerships signed at Paris Air Show

Updated 45 min 23 sec ago
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Saudi defense partnerships signed at Paris Air Show

PARIS: Saudi defense chiefs signed a number of strategic partnerships with major global companies while taking part in the prestigious Paris Air Show.
The pavilion of the Saudi Arabian Military Industries (SAMI) company received a succession of key aerospace-industry figures during the Kingdom’s first exhibition appearance at the world’s largest aviation event.
High-profile visitors welcomed by SAMI chief executive offer, Andreas Schwer, included chairman of the SAMI board of directors, Ahmad Al-Khatib, deputy chairman of the SAMI board of directors and chairman of the board of directors of the Local Content and Government Procurement Commission, Dr. Ghassan Al-Shibl, and president of the General Authority for Civil Aviation, Abdulhadi bin Ahmed Al-Mansouri.
The pavilion also received a senior delegation from the Saudi Presidency of State Security, along with the director general of Saudi Arabian Airlines, Saleh bin Nasser Al-Jasser.
During the second day of the air show, which runs until June 23 at Le Bourget airport in Paris, SAMI officials took part in meetings and signed strategic partnerships with global businesses involved in the four areas of the company’s work, namely air and ground systems, weapons, missiles and defense electronics.
At a signing ceremony in the SAMI pavilion, company chiefs also put pen to paper on a joint project agreement with US aerospace and defense company L3 Technologies for cooperation in the field of electro-optical and infra-red technology and special task systems inside Saudi Arabia. In February, the two sides signed a memorandum of understanding establishing the joint project.