DAVOS, Switzerland: Saudi Arabia's finance minister said on Wednesday the kingdom is changing the way it provides assistance to allies, shifting from previously giving direct grants and deposits unconditionally.
The kingdom, the world's top oil exporter and an Arab powerhouse, was encouraging countries in the region to enact economic reforms, Mohammed al-Jadaan said at the World Economic Forum in Davos.
"We used to give direct grants and deposits without strings attached and we are changing that. We are working with multilateral institutions to actually say we need to see reforms," the minister said.
"We are taxing our people, we are expecting also others to do the same, to do their efforts. We want to help but we want you also to do your part."
Saudi Arabia and other Gulf Arab states like the United Arab Emirates and Qatar have increasingly moved towards investing rather than extending direct financial aid.
Earlier this month, Saudi state media reported the kingdom could boost its investments in cash-strapped Pakistan to $10 billion, from $1 billion announced in August, as well as increase the ceiling on deposits into the Pakistan central bank to $5 billion.
In June, Saudi Arabia signed deals worth $7.7 billion with Egypt, including to build a $1.5 billion power plant, and said it intended to lead investments worth $30 billion, helping a long-standing ally that faces a weakening currency and shortage of foreign currency.
The kingdom also set up companies in Egypt, Jordan, Bahrain, Sudan, Iraq and Oman to seek up to $24 billion in investments there.
Jadaan added that Riyadh had early on seen global inflation coming and acted accordingly, helping to keep inflation in the kingdom at an average of about 2.6%.
"The likelihood of next year is that inflation will not be as high," he said.
Asked about Saudi ties with major trade partner China, Jadaan said Riyadh was taking a "wider approach" in which relations with both Beijing and Washington were important as well as building ties with other countries.
"We are looking to enhance our relationship with Europe. We are actually advancing our relationship with Latin America, with Asia," he said.
Saudi finance minister says kingdom changing no-strings aid
https://arab.news/nrare
Saudi finance minister says kingdom changing no-strings aid
- Kingdom encouraging countries in the region to enact economic reforms, Mohammed al-Jadaan said at WEF in Davos
- Earlier this month, Saudi state media reported kingdom could boost its investments in cash-strapped Pakistan to $10 billion
Saudi reserve given ‘dark sky’ listing in boost to astrotourism ambitions
- Imam Turki bin Abdullah Royal Reserve Development Authority announced on Monday that the desert received official accreditation from DarkSky International
RIYADH: Saudi Arabia’s Nafud Desert has been listed as one of more than 250 Dark Sky Sites worldwide, which authorities say marks a commitment to protecting the environment from light pollution.
Imam Turki bin Abdullah Royal Reserve Development Authority announced on Monday that the desert received official accreditation from DarkSky International, the global body committed to tackling light pollution in urban and rural areas.
Welcoming the accreditation, Ahmed Al-Qarni, official spokesperson at the royal reserve, told Arab News: “It’s a new achievement in the journey of protecting nature and astronomy in Saudi Arabia.
“The adoption of the Great Nafud Desert in Imam Turki bin Abdullah Royal Reserve by the International DarkSky Association, as the largest site in the Middle East, (represents) a culmination of a precise scientific path, and another step that enhances the Kingdom’s position as a leading destination in sustainability, nature protection, and astronomical tourism.”
Abouazza El-Mhamdi, associate professor in the physics and astronomy department at King Saud University’s College of Science, said that the announcement is a “a major achievement for both science and tourism.
“This accreditation protects the pristine night sky from light pollution, creating an invaluable natural laboratory for astronomers,” he added.
“It provides an ideal Saudi location for adequate Earth-based telescopes and is a prime candidate for detailed site surveys, enabling sensitive observations of stars and galaxies.
“At the same time, it establishes the reserve as a premier global destination for stargazing and astrotourism, supporting sustainable economic growth.”
The reserve development authority also posted on X: “Away from the clamor of the lights ... there is a darkness that shines.
“We are proud of the adoption of the Great Nafud Desert within the Imam Turki bin Abdullah Royal Reserve as one of the dark sky places certified by the DarkSky International.”
Located within the reserve east of the Hail-Al Jawf road, the Great Nafud Desert covers an area of about 13,416 sq. km, making it one of the largest accredited Dark Sky Sites in the region and one of the least light-polluted sites in the Kingdom, the Saudi Press Agency reported.
Fulfilling the organization’s criteria was the result of comprehensive scientific work that included field studies, precise astronomical observations, advanced nighttime analyses, and the implementation of specialized engineering practices for managing nighttime lighting and controlling light pollution sources.
These efforts, undertaken by the authority, are part of its commitment to protecting the desert’s natural nighttime landscapes, enhancing the sustainability of ecosystems and preparing the site to serve as a global model for preserving the natural sky.
CEO of the Imam Turki bin Abdullah Royal Reserve Development Authority, Engineer Mohammed Al-Shaalan, said in a statement that the accreditation is a culmination of the interest of the country’s leadership in the environment and the protection of natural sites.
It also reflects the support of Prince Turki bin Mohammed bin Fahd bin Abdulaziz, chairman of the authority’s board of directors, he added.
Al-Shaalan said that the accreditation represents a significant step that enhances the reserve’s presence on the international map and contributes to the development of astronomical tourism, scientific research, and specialized environmental experiments.
The area provides visitors and researchers with unique opportunities to observe the night sky and to monitor astronomical phenomena in a natural environment with low light pollution.
He added that the authority has developed tourism facilities in the desert such as “The Leaf” camp located near the dark sky zone.
