Diplomacy

Saudi King Abdullah Announces Increased Benefits for Citizens

Friday, February 25, 2011

Riyadh - (PanOrient News) King Abdullah of Saudi Arabia issued a series of royal decrees for the welfare of Saudi citizens pumping billions of Dollars into various sectors of the economy.

The packages included $10.6 billion (SR 40 billion) in new funding for housing loans through the Real Estate Development Fund, and $7.9 billion (SR 20 billion) in funding to increase the capital of the Saudi Credit Bank.

It also pledged $266 million (SR 1 billion) to enable social insurance to increase the number of family members covered, and $319.9 million (SR 1.2 billion) to expand social services. Furthermore, it appropriated $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, and $3.9 billion (SR 15 billion) to support the General Housing Authority.
A Pay increase by 15 percent for state employees is also included in the package.

Fifty percent increase in the annual allocations for charitable organizations reach $120 million (SR 450 million), and $26.7 million ($100 million) annually allocation to projects of the National Charitable Fund will get SR100 million.

The package also included extending the King Abdullah Foreign Scholarship Program for five additional years, which will now include Saudis studying abroad on their own accounts, and increased monetary support for all sports clubs.

King Abdullah bin Abdulaziz returned to a warm welcome in Riyadh, Saudi Arabia on Feb. 23, following three months in the United States and Morocco for treatment and recuperation from surgery to treat a slipped disc in his back, Saudi News Agency reported.

Photo: Saudi Crown Prince Sultan bin Abdulaziz Al-Saud, Deputy Prime Minister and Minister of Defense and Aviation, received King Abdullah at the airport and was joined by Prince Nayef, Second Deputy Prime Minister and Minister of Interior, and other senior princes and officials, including Riyadh Governor Prince Salman bin Abdulaziz Al-Saud. Photo courtesy of Saudi News Agency.

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Diplomacy