The Cabinet meeting, chaired by Custodian of the Two Holy Mosques King Abdullah, took the decision to grant the loan to SEC on the recommendation of a ministerial committee, the Saudi Press Agency said, quoting Culture and Information Minister Abdul Aziz Khoja.

Saudi Arabia requires investments worth SR330 billion for power generation and supply projects over the next 10 years, according to a recent statement by Minister of Water and Electricity Abdullah Al-Hussayen. He expected the private sector to contribute SR100 billion.

The Cabinet also reviewed the developments in some Arab countries and called for quick steps to prevent worsening situations there, in order to protect the lives of people and ensure the security and stability of those countries.

The meeting denounced the storming of a group of Israeli extremists into Al-Aqsa Mosque and the burning of a Gaza mosque by another group. It urged the international community to shoulder its responsibility toward Israel’s aggressive practices in the occupied Arab territories.

Meanwhile, King Abdullah held talks with Palestinian President Mahmoud Abbas in Jeddah. The talks focused on the latest developments of the Palestinian issue and the suffering of Palestinians under Israeli occupation.

The Cabinet authorized Bandar Al-Aiban, president of the Human Rights Commission, to hold talks with the UN High Commissioner for Human Rights to sign a memorandum of understanding.

Earlier, King Abdullah briefed the ministers on the outcome of his talks with world leaders during the past week, including his telephone conversation with Senegal’s President Abdoulaye Wade and meetings with Ethiopian Deputy Premier and Foreign Minister Haile-Mariam Desalegne, Arab League Secretary-General Amr Moussa and French Economy Minister Christine Lagarde.

The Cabinet appointed Misfer Al-Bishr administrative consultant at the Bureau of Investigation and Prosecution, Hamid Al-Ghamdi minister plenipotentiary at the Foreign Ministry, Saud Al-Dayel administrative director at the General Intelligence, and Muhammad Al-Ghamdi director of Hudaitha customs.