2006 News Story
 

07/26/2006
Telethon for Lebanon raises over SR 100 million

The telethon ordered by Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz to raise funds to aid Lebanon has raised over SR 100 million [$26.7 million] as of midnight local time. This figure excludes in-kind contributions from Saudi citizens and companies.


King Abdullah bin Abdulaziz made a personal donation of SR 10 million [$2.67 million] to the campaign. Crown Prince Sultan bin Abdulaziz donated SR 5 million [$1.3 million], and Interior Minister Prince Nayef bin Abdulaziz donated SR 2 million [$533,319].

Proceeds from the fundraiser are in addition to the aid package for Lebanon that Saudi Arabia announced yesterday. The package includes a $500 million grant for the reconstruction of Lebanon and a $1 billion deposit with the Central Bank of Lebanon to support the Lebanese economy.  Additionally, Saudi Arabia last week provided $50 million in emergency relief assistance for the Lebanese people.

The Kingdom has also earmarked $250 million as a grant to be part of an international fund for reconstruction and relief in the Palestinian territories.

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