He allocated SR40 billion to increase the capital of the Real Estate Development Fund to provide more housing loans to Saudis. He also increased the capital of Saudi Credit Bank from SR10 billion to SR30 billion by allocating SR20 billion to provide soft loans.
The decrees were issued to mark King Abdullah’s return to the homeland from abroad on Wednesday following a three-month-long medical tour.
According to one decree, the number of family members benefiting from social insurance has been increased from eight to 15, the Saudi Press Agency said, adding that SR1 billion has been set aside for the purpose.
King Abdullah allocated SR3.5 billion to help the poor repair their houses and pay electric and water bills and SR1.2 billion to conduct vocational training courses for women, the SPA said.
King Abdullah also set up a high-level ministerial committee to find a quick solution for the employment of the growing number of graduates in the public and private sectors. The committee has been asked to present its report within four months.
As part of the government’s efforts to fight unemployment, a part of the financial resources of the Human Resource Development Fund will be allocated to provide assistance to unemployed youth for a year. In the meantime, the General Organization for Social Insurance will set up a cooperative insurance program for the unemployed.
King Abdullah issued another decree increasing annual allocations for charitable organizations by 50 percent to reach SR450 million. Cooperative societies will also receive SR100 million annually while two projects of the National Charitable Fund will get SR100 million. He also allocated SR476 million to support poor students and urged authorities to allocate a percentage of seats at universities for poor students.
King Abdullah raised the budget of the General Housing Authority by SR15 billion. He also extended the period of the King Abdullah Foreign Scholarship Program for another five years and said Saudis studying abroad on their accounts would be included in the program on the basis of certain conditions.
He also ordered payment of 15 percent of basic salaries as inflation allowance to government employees. The Supreme Economic Council has been asked to take necessary steps for the payment within three months.
The staff of the General Auditing Bureau, Control and Investigation Board, Bureau of Investigation and Prosecution and the Royal Court will be increased by adding 300 employees each.
King Abdullah also ordered the release of public rights prisoners on the basis of certain conditions and payment of debts of people jailed for debts.
He allocated SR10 million to support literary clubs and ordered payment of SR10 million each to every excellent sports clubs, SR5 million each for every first class clubs and SR2 million for every registered sports clubs. Specialized professional associations in the Kingdom will also receive SR10 million each. King Abdullah also ordered increase in salaries and benefits for government employees, SPA said.
