Saudi Arabia has provided assistance and soft loans over the past 30 years to 95 developing countries, a minister said. Minister of state for foreign affairs Nizar bin Obeid Madani said here that as part of its responsibility towards the Least Developed Countries (LDCs), the country has provided assistance and soft loans over the past [...]
Saudi Arabia has provided assistance and soft loans over the past 30 years to 95 developing countries, a minister said.
Minister of state for foreign affairs Nizar bin Obeid Madani said here that as part of its responsibility towards the Least Developed Countries (LDCs), the country has provided assistance and soft loans over the past three decades benefiting 95 developing countries.
Saudi Press Agency said that the minister was speaking at the fourth UN Conference on the LDCs. Madani said LDCs are facing numerous challenges in their endeavour to ensure a decent life for their people.
“It is disturbing to note that the LDCs are currently experiencing rapid population growth compounded with problems of backwardness, poverty, unemployment and illiteracy” the minister was quoted as saying by SPA. He said that Saudi Arabia has shown great concern to further the development process in those countries.
The country has provided a total of about $100 billion in non-recoverable aid and soft loans from which 95 developing countries have benefited and this assistance has covered basic development sectors such as health, education and infrastructure, he added.
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