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FINANCIAL NEWS
Arab states receive USD3.7b in Saudi aid: IMF
20 Sep 2012
(MENAFN) The International Monetary Fund (IMF) stated that since the start of 2011 until June 1, 2012, Saudi has provided Arab countries with USD3.7 billion in financial aid, reported Arab News.
The IMF said that during the mentioned period, the Kingdom promised to offer USD17.9 billion in loans, grants and other support to be distributed over a number of years.
It added that the country has pledged USD4 billion financial aid to Egypt, of which the latter received USD1.5 billion, whereas Jordan has received USD1.4 billion of the promised USD2.7 billion.
Furthermore, Riyadh has pledged USD15 billion of additional resources to the IMF.
It added that the total aid pledges of the Kingdom equal around 10 percent of the country’s USD183.97 billion state budget for the current year.
It is worth noting that the IMF figures may not take account of some aid disbursed after June 1.
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