Saudi King Abdullah Invests in Public Welfare Through Issuance of Royal Decrees

News provided by

Royal Embassy of Saudi Arabia, Information Office

Feb 24, 2011, 06:32 ET

WASHINGTON, Feb. 24, 2011 /PRNewswire-USNewswire/ -- Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al-Saud yesterday issued a series of royal decrees for the general improvement of the welfare of Saudi citizens. The decrees, which amount to a multi-billion dollar package, came upon King Abdullah's return to the Kingdom after being away for three months in the United States and Morocco for treatment and recuperation from a successful back surgery.

"King Abdullah's latest investment in the Saudi people is aimed at continuing the progress taking place in all sectors of Saudi society—including economic, educational, social and security-related," said Saudi Ambassador to the United States Adel bin Ahmed Al-Jubeir.

The new benefits include:

  • $10.6 billion (SR 40 billion) in new funding for housing loans through the Real Estate Development Fund
  • $7.9 billion (SR 20 billion) in funding to increase the capital of the Saudi Credit Bank
  • $266 million (SR 1 billion) to enable social insurance to increase the number of family members covered
  • $319.9 million (SR 1.2 billion) to expand social services
  • $933 million (SR 3.5 billion) to help the needy repair their homes and pay utility bills
  • $126.9 million (SR 476 million) to support programs for needy students at the Ministry of Education
  • $3.9 billion (SR 15 billion) to support the General Housing Authority
  • Pay increase by 15 percent for state employees
  • 50 percent increase in the annual allocations for charitable organizations to $120 million (SR 450 million)
  • $26.7 million (SR 100 million) annually allocated to projects of the National Charitable Fund
  • Extended the King Abdullah Foreign Scholarship Program for five additional years, which will now include Saudis studying abroad on their own accounts
  • Increased monetary support for all sports clubs

For more information on King Abdullah's initiatives, please visit www.saudiembassy.net and follow the Embassy on Twitter (@SaudiEmbassyUSA) or on the Embassy YouTube page.

This is distributed by Qorvis Communications, LLC on behalf of the Royal Embassy of Saudi Arabia. Additional information is available at the Department of Justice, Washington, D.C.

SOURCE Royal Embassy of Saudi Arabia, Information Office

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

icon3
440k+
Newsrooms &
Influencers
icon1
9k+
Digital Media
Outlets
icon2
270k+
Journalists
Opted In
GET STARTED