Crown Prince: Saudi Arabia Has Contributed $6Bln to Support 200 Development Projects in 60 Countries

Prince Mohammed bin Salman bin Abdulaziz, Saudi Crown Prince and Prime Minister, (C-R) stands with French President Emmanuel Macron (C-L) for a group photo together with other heads of state participating in the One Water Summit in the capital Riyadh on December 3, 2024. (AFP)
Prince Mohammed bin Salman bin Abdulaziz, Saudi Crown Prince and Prime Minister, (C-R) stands with French President Emmanuel Macron (C-L) for a group photo together with other heads of state participating in the One Water Summit in the capital Riyadh on December 3, 2024. (AFP)
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Crown Prince: Saudi Arabia Has Contributed $6Bln to Support 200 Development Projects in 60 Countries

Prince Mohammed bin Salman bin Abdulaziz, Saudi Crown Prince and Prime Minister, (C-R) stands with French President Emmanuel Macron (C-L) for a group photo together with other heads of state participating in the One Water Summit in the capital Riyadh on December 3, 2024. (AFP)
Prince Mohammed bin Salman bin Abdulaziz, Saudi Crown Prince and Prime Minister, (C-R) stands with French President Emmanuel Macron (C-L) for a group photo together with other heads of state participating in the One Water Summit in the capital Riyadh on December 3, 2024. (AFP)

Prince Mohammed bin Salman bin Abdulaziz, Saudi Crown Prince and Prime Minister, said on Tuesday that the Kingdom has contributed USD6 billion in supporting 200 water-related projects in over 60 developing countries around the world.

He spoke at the One Water Summit in Riyadh that was attended by French President Emmanuel Macron, Kazakhstan’s President Kassym-Jomart Tokayev and several ministers and officials.

The summit is jointly chaired by Saudi Arabia, France and Kazakhstan, and president of the World Bank. It underscores Saudi Arabia’s pioneering international role in confronting water challenges across the world and its commitment to sustainable environment issues.

The Kingdom has for decades demonstrated its pioneering role in producing, transporting and distributing water and coming up with innovative solutions to address challenges related to it.

Crown Prince Mohammed noted that the world is facing growing water problems given the rise in drought levels. Water scarcity will lead to several crises, such as desertification, which may threaten human life and societies.

He therefore stressed the need for joint work to set plans to ensure sustainable sources of water.

The Kingdom is preparing to host the 11th round of the World Water Forum in 2027 in cooperation with the World Water Council, he remarked. The council has already set up its global headquarters in Riyadh with the aim to develop and integrate international efforts to tackle challenges in a more comprehensive way.

Moreover, Crown Prince Mohammed noted that the One Water Summit is being held while Saudi Arabia is hosting the 16th session of the Conference of the Parties (COP16) of the United Nations Convention to Combat Desertification (UNCCD).

The One Water Summit aims to contribute to the ongoing United Nations discussions and process to boost global water governance, accelerate action on SDG6 on water and sanitation, building on the momentum of the UN Water Conference in 2023. It also aims to act as an incubator for solutions, in preparation for the next UN Water Conference in 2026.

The One Water Summit’s ambition is to scale-up projects by stimulating partnerships between states, international organizations, local authorities, development and private banks, businesses, philanthropies, scientific experts, NGOs and civil society, in line with previous One Planet Summits.



Oil Prices Held Down by Trump Tariff Uncertainty

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown)
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Oil Prices Held Down by Trump Tariff Uncertainty

FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown)
FILE - Pump jacks extract oil from beneath the ground in North Dakota, May 19, 2021. (AP Photo/Matthew Brown)

Oil prices were little changed on Thursday, maintaining almost all of the previous session's losses on uncertainty over how US President Donald Trump's proposed tariffs and energy policies would affect global economic growth and energy demand.

Brent crude futures were up 18 cents at $79.18 a barrel by 1315 GMT. US West Texas Intermediate crude (WTI) rose 14 cents to $75.58.

"Oil markets have given back some recent gains due to mixed drivers," said Priyanka Sachdeva, senior market analyst at brokerage Phillip Nova.

"Key factors include expectations of increased US production under President Trump's pro-drilling policies and easing geopolitical stress in Gaza, lifting fears of further escalation in supply disruption from key producing regions."

The broader economic implications of US tariffs could further dampen global oil demand growth, she added, Reuters reported.

Trump has said he would add new tariffs to his sanctions threat against Russia if the country does not make a deal to end its war in Ukraine.

He also vowed to hit the European Union with tariffs and impose 25% tariffs against Canada and Mexico. On China, Trump said his administration was discussing a 10% punitive duty because fentanyl is being sent from there to the United States.

On Monday he declared a national energy emergency intended to provide him with the authority to reduce environmental restrictions on energy infrastructure and projects and ease permitting for new transmission and pipeline infrastructure.

There will be "more potential downward choppy movement in the oil market in the near term due to the Trump administration's lack of clarity on trade tariffs policy and impending higher oil supplies from the US", OANDA senior market analyst Kelvin Wong said in an email.

On the US oil inventory front, crude stocks rose by 958,000 barrels in the week ended Jan. 17, according to sources citing American Petroleum Institute figures on Wednesday.

Gasoline inventories rose by 3.23 million barrels and distillate stocks climbed by 1.88 million barrels, they said.