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Saudi Arabia's SAMI and Turkish Firms Establish New Defense Industry Collaborations

Saudi Arabia's SAMI and Turkish Firms Establish New Defense Industry Collaborations
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Saudi Arabia's SAMI and Turkish Firms Establish New Defense Industry Collaborations

Saudi Arabia's SAMI and Turkish Firms Establish New Defense Industry Collaborations

State-owned Saudi Arabian Military Industries (SAMI) said early on Thursday it signed three memorandums of understanding (MOUs) with Turkish companies to "support the localization of defense industries" in the Kingdom.

In a statement, SAMI said it agreed with Türkiye's drone maker Baykar to "establish manufacturing capabilities" and develop systems for Baykar's unmanned aerial vehicles in Saudi Arabia.

It also agreed with Turkish aerospace and defense company Aselsan to explore opportunities for developing defense electronics technologies in the kingdom.

In addition, SAMI signed a preliminary agreement with Türkiye's Fergani Space for the "development of emerging technologies in the Kingdom to serve the global space sector," the statement said.

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World Bank Redirects Funds Towards Lebanon Emergency Aid

Flames rise from Israeli airstrikes in Dahiyeh, Beirut, Lebanon, Friday, Oct. 4, 2024. (AP Photo/Hussein Malla)
Flames rise from Israeli airstrikes in Dahiyeh, Beirut, Lebanon, Friday, Oct. 4, 2024. (AP Photo/Hussein Malla)
TT
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World Bank Redirects Funds Towards Lebanon Emergency Aid

Flames rise from Israeli airstrikes in Dahiyeh, Beirut, Lebanon, Friday, Oct. 4, 2024. (AP Photo/Hussein Malla)
Flames rise from Israeli airstrikes in Dahiyeh, Beirut, Lebanon, Friday, Oct. 4, 2024. (AP Photo/Hussein Malla)

The World Bank announced on Thursday that it was redirecting funds originally earmarked for development programs in Lebanon towards emergency aid for people displaced by Israeli bombardment of the country.

"The World Bank is activating emergency response plans to be able to repurpose resources in the portfolio to respond to the urgent needs of people in Lebanon," said a statement from the US-based multilateral institution.

The multilateral institution currently has $1.5 billion in funding for programs in Lebanon. Part of this amount will be redirected.

Since September 23, more than 1,000 people have been killed in an Israeli air-and-ground campaign on Lebanon that has targeted armed group Hezbollah in the south and east of the country, with strikes expanding to include the capital Beirut.

Thousands have been displaced since the bombing began, and the funds would be used to provide aid to those populations, the World Bank said.

"This would include emergency support to displaced people that could be deployed through a digital platform the World Bank helped put in place during the Covid epidemic," the statement said.