Saudi Arabia, Kuwait and UAE approve $2.5bn aid package for Jordan at emergency Gulf summit

1 / 5
Saudi King Salman (left) meeting with Jordan's King Abdullah II (center), UAE Prime Minister Sheikh Mohammed bin Rashid (right) and Kuwaiti Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah (back toward the camera) at the Safa Palace in Makkah early Monday. (SPA)
2 / 5
Clockwise from left: Kuwaiti Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, Saudi King Salman, Jordan's King Abdullah II and UAE Prime Minister Sheikh Mohammed bin Rashid (back toward the camera). (SPA)
3 / 5
Left to right: UAE Prime Minister Sheikh Mohammed bin Rashid, Kuwaiti Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, Saudi King Salman and Jordan's King Abdullah II during a meeting at the Safa Palace in Makkah early Monday. (SPA)
4 / 5
Jordan's King Abdullah II, Saudi Crown Prince Mohammed bin Salman and Kuwaiti Foreign Minister Sabah Al Khalid Al Sabah listen as King Salman speaks at the close of the Makkah Summit early Monday. (SPA)
5 / 5
Aftermath of the summit. (SPA)
Updated 11 June 2018
0

Saudi Arabia, Kuwait and UAE approve $2.5bn aid package for Jordan at emergency Gulf summit

  • The package will include a deposit in the Jordanian central bank, World Bank guarantees, budgetary support over five years and financing for development projects.
  • King Salman called the meeting to muster support for ally Jordan, which had been rocked by mass protests against price rises and a proposed tax hike in recent days.

JEDDAH: Saudi Arabia, Kuwait and the United Arab Emirates agreed on Monday to provide an economic aid package worth $2.5 billion for Jordan, which is facing an economic crisis following anti-austerity protests.

The package, announced at a summit of the four nations in the holy city of Makkah, will include a deposit in the Jordanian central bank, World Bank guarantees, budgetary support over five years and financing for development projects, said a summit communique carried by the Saudi Press Agency.

The summit, called by Saudi King Salman, was attended by Jordan’s King Abdullah II along with UAE's Prime Minister Sheikh Mohammed bin Rashid Al-Maktoum and Kuwaiti Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah.

King Salman called the meeting to garner support for ally Jordan, which had been rocked by mass protests against price rises and a proposed tax hike in recent days.

The statement noted that funding for Jordan's economic crisis comes from contributory funds for development projects in the Kingdom.

Following the meeting, King Abdullah II offered his gratitude to King Salman, Kuwait and the UAE for their support. Jordan is struggling to curb its debt after securing a $723 million loan from the International Monetary Fund (IMF) in 2016.

Austerity measures tied to the loan have seen prices of basic necessities rise across the Kingdom of Jordan — culminating in a week of angry protests over tax proposals that forced prime minister Hani Mulki to resign.

The authorities on Thursday announced they were withdrawing the unpopular legislation, but still face a mammoth task to balance popular demands with the need to reduce the public debt burden.

Jordan blames its economic woes on instability rocking the region and the burden of hosting hundreds of thousands of refugees from war-torn Syria, complaining it has not received enough international support.

The World Bank says Jordan has “weak growth prospects” this year, while 18.5 percent of the working age population is unemployed.
Saudi Arabia and the United States are two of the major donors providing vital economic assistance to Jordan.

(With AFP and Reuters)


Saudi Arabia highlights the importance of the implementation of the UN Vision 2030

Updated 17 October 2018
0

Saudi Arabia highlights the importance of the implementation of the UN Vision 2030

  • Saudi Arabia affirms the importance of preserving natural resources and putting great attention to environmental issues
  • Saudi Arabia is keen to preserve and protect them and ensure that they are not affected by the urban and industrial renaissance in the Kingdom

DUBAI: Saudi Arabia’s permanent delegation to the United Nations said that the Kingdom puts great importance to the implementation of the UN Vision 2030’s goals encompassing the economic, social and environmental fronts.

This was stated in the speech delivered by the First Secretary Bandar Al-Nahdi during the general debate on Agenda 21, a UN action plan on sustainable development, at the 73rd session of the General Assembly of the United Nations.

Al-Nahdi said that Saudi Arabia affirms the importance of preserving natural resources and putting great attention to environmental issues.

It is keen to preserve and protect them and ensure that they are not affected by the urban and industrial renaissance in the Kingdom, he said in his speech.

“Saudi Arabia believes that the preservation and development of the environment lie in finding new modern technologies, reducing pollution, fighting desertification and optimizing the use of water resources (both treated and renewable water),” Al-Nahdi said. “The plan also includes a complete protection of shores, reserves and islands, in a way that everyone would have access to them.”

He pointed out that King Salman has issued a royal order to establish the Royal Protected Areas Council under the chairmanship of Crown Prince Mohamed bin Salman. The council will have authority over six reserves in the Kingdom, and would be made accessible to citizens and residents without walls or barriers.

Al-Nahdi said that the Kingdom also supports international efforts to combat desertification.

He added that the Kingdom has launched two initiatives for the sustainable development of forests and rangeland, and organized investments in these areas, to fight desertification through planting 4 million trees and providing 6 million plantlets. It also rehabilitated 60,000 hectares of agricultural land and pastures. Meanwhile, over the next four years more than 100 sites and 24 national parks will be developed.

Al-Nahdi also referred to the report of the UN Secretary-General – “Oil slick on the Lebanese shores” – and said that Saudi Arabia shared the concern of the UN as Israel continued to ignore all international resolutions urging it to take responsibility for the environmental catastrophe caused when its military forces targeted oil storage tanks in the Lebanese shores.

“This has engendered a devastating environmental impact. It is not surprising to see this coming from a state that always disregards all international laws, decisions and treaties, and continues to occupy the land of Palestine and the Arab Golan,” he said.

Al-Nahdi stressed that the Kingdom was always keen on cooperating with international organizations and countries that believed in collective work to achieve the best.

He said that Saudi Arabia would also support efforts to protect and preserve the environment, including risk-reduction measures for natural disasters that threaten our world.