Development Projects in Africa and Asia to get $800M From Saudi Arabia

According to the announcement made on Wednesday by the economy ministry's Faisal bin Fadhil, Saudi Arabia has reserved $800 million for developmental projects in Africa and Asia.

The UN Conference on Least Developed Countries was taking place in Doha, the capital of Qatar when the announcement was made, as reported by the Saudi Press Agency (SPA). The conference, which is taking place in Qatar from March 5th to 9th, aims to identify long-term, viable solutions to support the economy of underdeveloped countries.

Faisal bin Fadhil said, “Despite the developmental and social progress achieved over the past fifty years, fundamental challenges faced by Least Developed Countries remain and have become more complex and urgent.” 

The Kingdom would continue to collaborate with "international partners," the economy minister stated during his speech, to carry out the 2030 Agenda for Sustainable Development. The minister made no specific mention of the different projects for which the funds will be used.

Follow us for more amazing beauty, fashion, and luxury content on Instagram and Facebook. Join us in our newsletter. Sign-up here.