Cabinet approves regulation for Saudi Export and Import Bank

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Custodian of the Two Holy Mosques King Salman chaired the Council of Ministers meeting at Al-Yamamah Palace in Riyadh on Tuesday. — SPA

RIYADH — The Council of Ministers has approved the regulation for the Saudi Export and Import (Exim) Bank, during a session held on Tuesday and presided over by Custodian of the Two Holy Mosques King Salman at Al-Yamamah Palace here.

The Cabinet referred to the subjects brought up by the Kingdom before the 56th session of the Munich Security Conference on its stances towards the most prominent dossiers in the region and the world.

They included the strategic relations with the US, the Iranian issue considering Tehran to be the party behind the state of instability in the region and its practice of a policy of reckless conduct that is threatening the regional and global economy, the situation in Yemen and the Kingdom’s continuous support for a political settlement, and highlighting the Kingdom’s ambitious agenda during its presidency of the G20 Summit and achieving its vision and goals.

In his statement to Saudi Press Agency (SPA) following the Cabinet session, Minister of Media Turki Al-Shabanah said that the Council reiterated the Kingdom’s affirmation during the meeting of the Social Development Committee in the 58th session of the Economic and Social Council at the UN in New York, that it would work in partnership with the UN and the international community to achieve the goals of sustainable development 2030 for a beautiful present and bright future for the coming generations.

It also highlighted the solutions it has presented to the housing programs and the education and healthcare sector, developing e-solutions, supporting youth programs and their contribution to development.

The Cabinet then dealt with the preparations by the pertinent authorities for the Kingdom’s hosting of the Middle East Summit for the World Economic Forum (WEF) in April, in the wake of the agreement the Kingdom signed with the Forum to set up a branch in the Kingdom for the WEF Fourth Industrial Revolution Center, which is deemed the fifth in the world.

This will enhance the policies to contribute to adopting technology and its best practices in the world. This comes within the efforts aimed at developing effective solutions for the challenges facing the vital sectors in the Kingdom.

Shabanah added that the Cabinet stressed the Kingdom’s support to the Yemeni people and its continuation in providing humanitarian aid (to them) via King Salman Humanitarian Aid and Relief Center (KSrelief).

It had also emphasized earlier during a high level meeting organized by the European High Commission, in cooperation with the Swedish government in Brussels on the humanitarian situation in Yemen, that the Houthi militia’s practices and provocative activities were hindering relief works and would lead to suspending humanitarian support for Yemen. — SPA


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