Saudi Arabia Contributes More than $87 Billion in International Aid to Combat Poverty

Saudi Minister of Economy and Planning during his speech at the 2023 SDG Summit (Asharq Al-Awsat)
Saudi Minister of Economy and Planning during his speech at the 2023 SDG Summit (Asharq Al-Awsat)
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Saudi Arabia Contributes More than $87 Billion in International Aid to Combat Poverty

Saudi Minister of Economy and Planning during his speech at the 2023 SDG Summit (Asharq Al-Awsat)
Saudi Minister of Economy and Planning during his speech at the 2023 SDG Summit (Asharq Al-Awsat)

Saudi Minister of Economy and Planning Faisal bin Fadel Al-Ibrahim has announced that Saudi Vision 2030 was highly consistent with the UN Sustainable Development Goals (SDG), revealing that the Kingdom contributed more than $87 billion in international aid to combat poverty and advance development.

The minister was speaking during his participation in the 2023 SDG Summit, in New York.

This year’s SDG Summit is the second since the adoption of the 2030 Agenda in 2015, and aims to accelerate progress towards achieving the 17 sustainable development goals within the 2030 Agenda for Sustainable Development.

Al-Ibrahim stressed that Saudi Arabia has become an international investment power, and plays an important role in mobilizing resources to achieve sustainable growth.

Highlighting the recently launched Global Water Organization, the minister said: “It is a monumental step that champions international innovation and it is a call to action for nations worldwide to come together.”

In this context, the minister said that the Kingdom has contributed more than $87 billion in international aid to combat poverty and advance development.

He added that the National Transformation Program, one of the Vision 2030 initiatives, led by Saudi Crown Prince Mohammed bin Salman, was strongly consistent with the UN goals of sustainable development.

Leaders of the UN member-states, as well as ministers, and representatives of international organizations, the private sector and civil society participated in the summit, which is chaired by the President of the United Nations General Assembly.

Meanwhile, Al-Ibrahim met with the Swedish Minister of International Cooperation and Foreign Trade, Johan Forssell, with whom he discussed bilateral economic and investment relations, and a number of issues of common interest, including the need to intensify international cooperation to accelerate the implementation of the SDGs.



ROSHN Group Signs SAR1.5 Billion Agreements

ROSHN Group Signs SAR1.5 Billion Agreements
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ROSHN Group Signs SAR1.5 Billion Agreements

ROSHN Group Signs SAR1.5 Billion Agreements

ROSHN Group, the Kingdom’s leading multi-asset class real estate developer and a PIF company, reinforced its commitment to fostering local content and driving economic growth at the third edition of the PIF Private Sector Forum. As part of its active participation, ROSHN Group announced new agreements worth SAR1.5 billion for construction operations and the development of infrastructure and retail facilities in SEDRA Community, the Group’s largest integrated development in Riyadh, SPA reported.
The agreements signed during the forum reflect ROSHN Group’s strategic efforts to strengthen the Kingdom’s construction sector, expand local expertise, and enhance supply chain localization. The contracts were awarded to local, Saudi-based contractors and a major international firm investing in local operations, further solidifying ROSHN Group’s role in enabling national capabilities.
The agreements were signed with several leading national and international contracting companies investing in the local market. The first agreement, valued at SAR650 million, was signed to develop more than 900 residential units and sports facilities at SEDRA Community. Another agreement was signed for the development of more than 700 residential units, supporting the continued expansion of the integrated community SEDRA. In addition, a SAR130 million agreement was signed for covering the construction of SEDRA’s first district retail mall. A fourth agreement, worth SAR720 million, was signed with for the development of more than 300 premium residential units in SEDRA.
"Our mandate at ROSHN Group extends beyond developing integrated projects; it plays a vital role in advancing Saudi Arabia’s economic diversification by strengthening local industries and expanding national capabilities," said Iain McBride, Executive Director, Commercial, ROSHN Group.