Saudi Arabia completes contribution to Arab funds for Palestinians

Saudi Arabia has completed its contribution to the Al-Aqsa Fund and the Intifada Fund, amounting to $ 250 million.

The Saudi contribution to the Al-Aqsa Fund ($ 200 million) will be used to finance projects destined to safeguarding the Arab and Islamic identity of the Al-Quds (Jerusalem) and to reinforcing the Palestinian economy and its independence vis-?-vis Israel, said Ahmed Mohamed Ali, president of the Islamic Development Bank.

The Saudi contribution to the Intifada fund ($ 50 million) will help extend assistance to the families of martyrs and finance the education of children.

The Al-Aqsa Fund and the Intifada Fund were set up, at the initiative of Saudi Arabia during the latest Arab Extraordinary summit, held in Cairo, Egypt. The two funds were endowed with a $ 1 billion capital.