New York, SPA:
The Kingdom of Saudi Arabia has affirmed its support for the efforts of the United Nations in financing development and the Addis Ababa Plan of Action and its special attention to the goals of sustainable development in its economic, social and environmental dimensions.
It stressed the importance of collective action to reduce the gap between developed and developing countries in various fields of development and these objectives must be adapted to accommodate the different needs of States in a way that does not conflict with the principles and legislation of other States and respect their specificities.
This came in the Kingdom's speech yesterday at the Fourth Forum on Financing for Development, organized by the UN Economic and Social Council in New York, which was delivered by Assistant Minister for International Financial Affairs and Macro Fiscal Policies and head of Kingdom's delegation participating in the Forum, Abdulaziz Al-Rasheed.
Al-Rasheed noted that the delegation of the Kingdom supported the statement made by the delegation of the State of Palestine on behalf of the Group of 77 and China, and commended the efforts made by the representative of the Republic of Italy and the representative of the Republic of Zambia for leading an effective, transparent and fruitful negotiation process.
He pointed out that the Kingdom is a major donor and partner in international development and one of the largest donors in the world. The total assistance provided by the Kingdom to the developing countries until the end of 2018 is estimated at about $ 116 billion, benefiting 95 developing countries.
Al-Rasheed said that the Kingdom is providing funding for development projects in developing countries through the provision of loans and encouragement of national exports without any regard to the geographical location. The Saudi Fund for Development is considered one of the most important channels of foreign aid," said the head of Kingdom's delegation, adding that since the beginning of its lending activity, the Fund has made 688 loans to finance 656 projects and development programs in the sectors of transport and communications, social infrastructure, agriculture, energy, industry and mining.
He indicated that the Kingdom continues to play its role in stabilizing energy markets and it is important to work on enhancing access to energy especially for the least developed countries by adopting practical policies and programs to implement the energy for the Poor Initiative.
The Head of the Saudi delegation praised the report of the Inter-Agency Task Force on Financing for Development, which reviews the progress made in financing development and it is considered a pillar of the outcomes and recommendations of the conference.
Al-Rasheed pointed out that the Kingdom affirms its continued role in the humanitarian, developmental and economic role in the sense of responsibility, moderation and concern for justice, which constitute the fixed themes of the international work of the Kingdom..
Last Modified Date: 17/04/2019 - 12:09 PM Saudi Arabia Time