37 bn saudi aid to arabs
Last Updated : GMT 14:23:16
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$ 3.7 bn Saudi aid to Arabs

Arab Today, arab today

Arab Today, arab today $ 3.7 bn Saudi aid to Arabs

Jeddah - Arabstoday

Saudi Arabia has so far disbursed about a fifth of the much-needed aid it promised to Arab countries since last year, according to the IMF, which cited data from Riyadh\'s finance ministry. Riyadh pledged a total of $ 17.9 billion in loans, grants and other support between the start of 2011 and June 1 this year, to be disbursed over several years, potentially making it a key donor. It disbursed $ 3.7 billion of that amount during the period, the International Monetary Fund said in a report on the Saudi Arabian economy, released this week after regular consultations with the Saudi government, Reuters reported. \"Regional support has come both in the form of substantial new pledges of financial assistance and indirectly,\" the IMF said. Egypt has received $ 1.5 billion of the $ 4.0 billion it was promised by Saudi Arabia, while Jordan has received $ 1.4 billion of $ 2.7 billion, according to the IMF data. The IMF figures may not include some aid disbursed after June 1. The $ 17.9 billion total for Saudi aid pledges is equivalent to nearly 10 percent of the country\'s SR 690 billion state budget for 2012, according to a Reuters calculation. Riyadh has also promised $ 15 billion of additional resources to the IMF. Arabnews

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