Arab Gulf loans and aid cooperation to Lebanon
United Arab Emirates-Lebanon, Politics, 5/30/2000

The Saudi government on Monday expressed its satisfaction over the Israeli withdrawal from South Lebanon and commended the role played by the Lebanese national resistance to this effect.

Meantime, Kuwait and Qatar started giving aids to Lebanon and the Islamic bank for development announced it has allotted a loan of US $ 100 million to help re-building south Lebanon.

The Saudi news agency said that the Cabinet which met on Monday under the chairmanship of the crown prince Abdullah Bin Abdul Aziz announced that the " government of Saudi Arabia continued news of the withdrawal of the Israeli forces from South Lebanon and its western Bekaa with great interest and satisfaction over the end of a time of Israeli occupation of South Lebanon from this dear part of sisterly Lebanon."

The agency added " the government of the two Custodians congratulates the Lebanese people and government over this great achievement which would not be attainable without the heroic steadfastness of the brave resistance throughout the years of occupation."

After the Saudi cabinet said that " Israel was subjugated to the will of the international community embodied in the UN security council resolutions 425 and 426," it expressed its hope that lebanon's sovereignty and independence will be honored.

In Jeddah, the Islamic Bank for development announced on Monday it offers Lebanon a loan of US $ 100 million as a contribution for re-building its South.

A statement released by the Islamic Bank for development said that this loan" Includes US $ 10 million as a soft loan for helping the building of schools and health centers."

The statement added that US $ 90 million was allotted to road construction, electricity project supplies and water reservoirs.

The statement added that the Bank has allotted US $ 500,000 as a donation not to be refunded to supply studies on feasibility study of projects.

Worthy mentioning the Islamic bank for development was established in 1975 at a capital of US $ 9 billions. It gives loans at very low interests to the Islamic states to enable its growth.

In Kuwait, the Kuwaiti foreign minister Sheikh Sabah al-Ahmad al-Sabah told the nation's council( Parliament) on Monday said the government decided to offer a donation of US $ 20 million to contribute to rebuilding Lebanon.

Meantime, Qatar gave a donation of US $ 7 million to re-build the liberated parts of South Lebanon.

To this effect, Dubai's crown prince and the United Arab Emirates UAE defense minister Sheikh Muhammad Bin Rashed al-Maktoum visits South Lebanon today for that purpose.

Previous Stories:
  UAE president confers with Lebanese counterpart   (4/19/2000)
  Lebanese president starts a visit to Saudi Arabia today   (4/15/2000)
  Lebanese president to visit Saudi Arabia on April 15   (4/7/2000)
  Lebanese president speaks on the telephone with UAE president   (1/27/2000)

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