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Kuwait, Saudi Arabia, UAE Pledge $10 Billion to Bahrain

Bahrain's Financial Harbor, left, and World Trade Center in Manama. (Reuters)
Bahrain's Financial Harbor, left, and World Trade Center in Manama. (Reuters)
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Kuwait, Saudi Arabia, UAE Pledge $10 Billion to Bahrain

Bahrain's Financial Harbor, left, and World Trade Center in Manama. (Reuters)
Bahrain's Financial Harbor, left, and World Trade Center in Manama. (Reuters)

Saudi Arabia, the United Arab Emirates, Kuwait and the Arab Monetary Fund (as a consultative party) announced the launch of a financial balance program to support the financial stability of Bahrain.

The program includes providing $10 billion to achieve a balance between government expenditures and revenues by 2022.

The program will provide soft loans to fund the financial balance program that aims at accomplishing public finance stability and continuing the motivation of economic growth of Bahrain.

On Thursday, ministers of finance of the concerned states convened in Bahrain where they signed on the arrangements of the financial cooperation between their governments.

On June 27, Saudi Arabia, UAE and Kuwait revealed a comprehensive economic program to support the financial stability of Bahrain.

Sheikh Khalid bin Abdullah Al Khalifa, Deputy Prime Minister and Chairman of the Ministerial Committee for Financial Affairs and Control of Spending, stressed that Bahrain seeks to accomplish the goals of comprehensive development, which were put by King Hamad bin Isa Al Khalifa.

Bahrain's Minister of Finance Sheikh Ahmed bin Mohammed Al Khalifa said: "With spending reductions commencing in the short term and the target of eliminating the budget deficit by 2022, the program secures the foundations of an economy that affords even more opportunity, more jobs, and greater living standards for the Kingdom's generations of today and tomorrow."

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Saudi Arabia Implemented $7.1-Billion-Worth Projects to Support Children

KSrelief has implemented 3,117 projects across 105 countries, totaling over $7.1 billion. SPA
KSrelief has implemented 3,117 projects across 105 countries, totaling over $7.1 billion. SPA
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Saudi Arabia Implemented $7.1-Billion-Worth Projects to Support Children

KSrelief has implemented 3,117 projects across 105 countries, totaling over $7.1 billion. SPA
KSrelief has implemented 3,117 projects across 105 countries, totaling over $7.1 billion. SPA

Saudi Arabia actively marks World Children's Day, observed on November 20 every year, through a range of projects and initiatives carried out by the King Salman Humanitarian Aid and Relief Center (KSrelief), which is dedicated to supporting children and promoting their well-being worldwide.

Since its establishment, KSrelief has implemented 3,117 projects across 105 countries, totaling over $7.1 billion. Among these, 965 projects were valued at over $924 million, specifically focusing on enhancing the living conditions of children and their families, alleviating their suffering and ensuring access to education in safe and healthy environments.

One significant project by the center is the rehabilitation and reintegration of children recruited and affected by the armed conflict in Yemen, which aims to support child soldiers in their journey back to society.

The project has positively impacted 530 children and 60,560 family members. It entails facilitating the children's integration into their communities, enrolling them in schools, and offering vital psychological and social support through targeted training courses, helping them to lead normal, fulfilling lives.
KSrelief is a key supporter of the United Nations Children's Fund (UNICEF), significantly contributing to the delivery of health services and nutrition programs for newborns and their mothers. The center also plays a crucial role in supporting educational initiatives and ensuring the continuity of education in crisis and disaster-affected areas.