Egypt, Yemen are top recipients of Saudi aid

Updated 19 May 2015
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Egypt, Yemen are top recipients of Saudi aid

RIYADH: Saudi Arabia has given Arab nations SR85 billion ($22.7 billion) in direct aid over 40 months, local media reported, quoting a report released by the International Monetary Fund (IMF).
Egypt captured the biggest portion at SR24.4 billion ($6.5 billion), with SR22.3 billion ($5.9 billion) delivered directly to the country. Saudi direct aid represented nearly 2.3 percent of Egypt’s gross domestic product (GDP).
Yemen was the second top recipient of direct aid, with SR14.3 billion ($3.8 billion) allocated, but only SR4.4 billion ($1.2 billion) delivered due to political developments in that country. Saudi direct aid represented nearly 8.4 percent of Yemen’s GDP, the report said.
Jordan was the third top recipient, with SR11.2 billion ($3 billion) allocated but SR7.2 billion ($1.9 billion) delivered. This represented nearly 8.1 percent of Jordan’s GDP, the report said.
Bahrain came in fourth, with the Saudi government allocating SR10.7 billion ($2.8 billion), which represented nearly 8.4 percent of its GDP. Oman was fifth at SR9.4 billion ($2.5 billion), representing nearly 3.1 percent of its GDP, the report said.
The West Bank and Gaza Strip were sixth at SR6.7 billion ($1.8 billion) which represented nearly 14.4 percent of the Palestinian GDP, followed by Morocco at SR6.1 billion ($1.6 billion), or 1.5 percent of its GDP, Sudan at SR2 billion ($527 million), or 0.8 percent of its GDP, and Djibouti at SR255 million ($68 million, or 4.3 percent of its GDP, the report said.


Riyadh Art will transform capital into open art exhibition

Updated 38 min 41 sec ago
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Riyadh Art will transform capital into open art exhibition

RIYADH: Minister of Culture Prince Badr bin Abdullah bin Farhan thanked King Salman and Crown Prince Mohammed bin Salman on Thursday, for the launch of several projects aimed at improving the quality of life in the Kingdom, including Riyadh Art — a project that will reportedly involve the world’s largest government investment in public art.
Prince Badr said in a statement that Riyadh Art, through the implementation of more than 1,000 works of art, will transform the capital city into “an open art exhibition” reflecting the spirit of Saudi Arabian traditions in a modern way.
By bringing together artists and specialists from across the world, he added, the Kingdom will reap intangible returns, including intellectual and aesthetic enrichment.