2002 News Story

Housing minister reaffirms Saudi commitment to Palestine

Minister of Housing and Pubic Works Prince Met'eb bin Abdulaziz is heading the Saudi delegation in Algiers at the 19th conference of housing ministers of the League of Arab States. In a press statement today, Prince Met'eb commented that the Saudi market is open for all Arab and foreign investors and Saudi businesses are ready to enter into joint ventures with their Arab counterparts in Algeria or any other Arab country, and referred to recent flotation of shares of a number of public sector organizations.

In his address to the conference, Prince Met'eb highlighted the Kingdom's position towards rehabilitating the infrastructure of Palestine, with numerous projects in the West Bank and Gaza for health, education, roads and water as well as housing. There is also, he said, the U.S. $300 million contribution of the Saudi Development Fund (SDF), of which $49 million was appropriated for housing. He confirmed that Saudi Arabia will continue to meet its pledges towards the Palestinian people in accordance with Arab Summit resolutions.