Saudi finance minister heads Saudi delegation at OPEC development fund meeting

Saudi Arabia is the largest stakeholder in the OPEC fund, which was established in 1976. (SPA)
Updated 21 July 2019
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Saudi finance minister heads Saudi delegation at OPEC development fund meeting

RIYADH: Finance Minister Mohammed Al-Jadaan headed the Saudi delegation that participated in the annual ministerial meeting of the OPEC Fund for International Development (OFID) in Vienna on Thursday.

The meeting agenda included discussion of OFID’s annual report for last year, approval of financial statements for the fiscal year 2018, the lending program to be granted by the fund in 2020, and OFID’s new strategy for financial sustainability.

OFID Director General Dr. Abdulhamid Al-Khalifa said: “OFID’s vision is to be a relevant, agile and efficient development finance institution that can deliver maximum development impact to its partner countries, while becoming self-sustainable in financing its operations.”

Saudi Arabia is the largest stakeholder in the fund, which was established in 1976 with the aim of promoting cooperation among member states to help poor countries increase their economic and social growth.

OFID provides concessional financing in the form of loans to support infrastructure and social projects, and to enhance productivity by focusing on projects that meet developing countries’ basic needs such as food, energy, health care and education. 

It also contributes to the provision of financing for private sector projects and trade finance. 


Taif festival celebrates Saudi Arabia’s literary icons

Updated 11 January 2026
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Taif festival celebrates Saudi Arabia’s literary icons

  • It introduces visitors to the contributions of literary pioneers through accessible visual and narrative content

TAIF: A special section highlighting key Saudi literary figures forms part of the Writers and Readers Festival in Taif.

The area explores the lives of distinguished writers, poets, and authors who have shaped the Kingdom’s creative landscape, influencing literature, journalism, theater and intellectual thought.

It introduces visitors to the contributions of literary pioneers through accessible visual and narrative content, the Saudi Press Agency reported on Sunday.

Organized by the Literature, Publishing and Translation Commission, the festival runs until Jan. 15 and features 42 prominent publishing houses from Saudi Arabia and overseas, offering visitors the chance to explore the latest works in literature, philosophy and general knowledge.

Meanwhile, the festival’s interactive murals section engages visitors with openwork art panels, allowing them to contribute to the city’s features and identity.

The murals depict Taif’s natural and historical landmarks, including Al-Hada Mountain, the Taif rose gardens, and traditional Hijazi palaces. Others are inspired by Souq Okaz, a historic literary and commercial center linked to the region’s poetic heritage.

Designed by a visual artist, they blend folk-inspired elements with imaginative expression, creating a collaborative experience that celebrates the city’s beauty and brings art closer to the public.