Assistant Minister of Foreign Affairs Dr Nizar Madani addressed the Second Summit of the South (Group of 77 plus China) in Doha, Qatar, today. Reaffirming the Kingdom’s concern for oil market stability in order to maintain the growth of the global economy, he said Saudi Arabia has adopted a consistent and moderate oil policy that has contributed to ensuring oil supplies for the world’s oil markets. Commenting on foreign aid, he pointed out that the Kingdom has, over the past thirty years, provided soft loans worth nearly U.S.$83 billion that have benefited some 73 developing countries.

In his speech, Dr Madani reviewed developments in Iraq and Lebanon; called on advanced countries and international institutions to reschedule the debts of developing countries; and touched on reforms in the United Nations, including increasing the membership of the Security Council. He also highlighted the Kingdom's efforts in the war on terrorism, noting the Counter-Terrorism International Conference that was held in Riyadh last February and its recommendations, in particular the proposal by Deputy Prime Minister and Commander of the National Guard Crown Prince Abdullah bin Abdulaziz for an international center to be set up to counter terrorism; he urged the United Nations to adopt these recommendations.

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