Saudi initiative exempts less-developed countries from $6bn debt

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Saudi Arabia’s King Salman chairs the council of ministers’ weekly session. (SPA)
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Saudi Arabia’s King Salman chairs the council of ministers’ weekly session. (SPA)
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Saudi Arabia’s King Salman chairs the council of ministers’ weekly session. (SPA)
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Saudi Arabia’s King Salman chairs the council of ministers’ weekly session. (SPA)
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Saudi Arabia’s King Salman chairs the council of ministers’ weekly session. (SPA)
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Saudi Arabia’s King Salman chairs the council of ministers’ weekly session. (SPA)
Updated 31 October 2018

Saudi initiative exempts less-developed countries from $6bn debt

  • The figure was revealed during a meeting of the Saudi Cabinet on Tuesday chaired by King Salman

JEDDAH: Saudi Arabia has canceled $6 billion of debt owed to the Kingdom from the least developed countries.
The figure was revealed during a meeting of the Saudi Cabinet on Tuesday chaired by King Salman.
The Cabinet discussed the Kingdom’s cooperation with the international community to achieve stability and development and the humanitarian and economic role played by Saudi Arabia, particularly with its commitment to the UN’s Sustainable Development Goals, the Saudi Press Agency reported.
The ministers referred to the “Kingdom’s debt pardoning initiative,” which had “exempted least developed countries from a total $ 6 billion debt.”
The Cabinet also expressed the Kingdom’s condemnation of the shooting in Pittsburgh, Pennsylvania, the attack in the town of Jafra in southern Libya, and the two suicide bombings in the capital of Tunisia and the Afghan capital. 
The Cabinet also reiterated the Kingdom’s condemnation of the terrorist massacres, brutal attacks and genocide being committed against the Rohingya in Rakhine State and other minorities in Kachin Shan province and other areas in northern Myanmar, which constitute one of the worst forms of terrorism against Muslim and other minorities. It reaffirmed the Kingdom’s call for urgent action to stop the violence and to offer the Rohingya in Myanmar their rights without segregation or apartheid.
The Cabinet praised Crown Prince Mohammed bin Salman for assuring at the Future Investment Initiative 2018 last week that Saudi Arabia had made huge steps in enhancing and developing its economy during the past three years.
The ministers also commended the status that the Kingdom’s economy has reached, pointing to the growth of non-oil revenues by 48 percent at the end of the third quarter compared to the same period last year, and the growth of government spending by 25 percent at the end of the third quarter, compared to the same period last year.
The Cabinet praised the completion of the specialized judiciary system following the launching of general, specialized and labor courts to develop the judiciary sector.
The Cabinet welcomed the measures taken by the member states of Terrorist Financing Targeting Center, which designated nine individuals linked to the Taliban Movement, including Iranians, in addition to the designation made by Saudi Arabia and Bahrain for four persons who provided sponsorship and financial and material support for Iran’s terrorist sabotage activities.


Desalination tunnel project completed in Saudi Arabia’s Taif

Updated 18 September 2020

Desalination tunnel project completed in Saudi Arabia’s Taif

  • The project, carried out by the Kingdom’s Saline Water Conversion Corporation (SWCC), took 19 months to complete

LONDON: Work on the longest desalinated water pipeline tunnel system in the world has been completed, project coordinators in Saudi Arabia announced on Friday.

The tunnel, which measures 12.5 kilometers long at a width of 8.4 meters, will pump desalinated water to reservoirs in Taif to meet the demand for water in the governorate and in its villages in the southern Al-Baha region.

The project, carried out by the Kingdom’s Saline Water Conversion Corporation (SWCC), took 19 months to complete — starting with excavation work at Al-Hada mountains — and has shortened the distance of water reaching Taif by more than 40km.

Makkah region officials tweeted about the completion of the project, which was completed ahead of schedule.

SWCC said it was ready to receive water in its storage units in Taif and estimate that desalinated water will begin reaching Al-Baha region in the third quarter of 2021.