RIYADH: Saudi Arabia tops the list of aid-granting countries in the Arab world, giving away $5.7 billion and accounting for 81.1 percent of the total aid given by the Arab Fund for Economic and Social Development (AFESD) in 2008.
Kuwait-based AFESD granted $7 billion in assistance, which was mostly given as loans and non-refundable gifts to poor countries for development of infrastructure, housing and small establishments.
The aid granted by AFESD was 97.2 percent higher than in 2007. Kuwait contributed $568 million, the United Arab Emirates’ share was $561 million, Qatar gave $171 million and Sultanate of Oman $25 million.
The ratio of developmental assistance to the gross national product in Saudi Arabia is 1.2 percent while the average ratio in the fund’s member countries was 0.7 percent in 2008.
The share of the Islamic Development Bank reached 33.8 percent and Saudi Developmental Fund 5.7 percent in the aid programs.
