Saudi King Abdullah Invests in Public Welfare Through Issuance of Royal Decrees

February 24, 2011

[Washington, DC] – Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al-Saud yesterday issued a series of royal decrees for the general improvement of the welfare of Saudi citizens. The decrees, which amount to a multi-billion dollar package, came upon King Abdullah’s return to the Kingdom after being away for three months in the United States and Morocco for treatment and recuperation from a successful back surgery.

“King Abdullah’s latest investment in the Saudi people is aimed at continuing the progress taking place in all sectors of Saudi society—including economic, educational, social and security-related,” said Saudi Ambassador to the United States Adel bin Ahmed Al-Jubeir.

The new benefits include:

• $10.6 billion (SR 40 billion) in new funding for housing loans through the Real Estate Development Fund
• $7.9 billion (SR 20 billion) in funding to increase the capital of the Saudi Credit Bank
• $266 million (SR 1 billion) to enable social insurance to increase the number of family members covered
• $319.9 million (SR 1.2 billion) to expand social services
• $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 at the Ministry of Education
• $3.9 billion (SR 15 billion) to support the General Housing Authority
• Pay increase by 15 percent for state employees
• 50 percent increase in the annual allocations for charitable organizations to $120 million (SR 450 million)
• $26.7 million ($100 million) annually allocation to projects of the National Charitable Fund will get SR 100 million
• Extended the King Abdullah Foreign Scholarship Program for five additional years, which will now include Saudis studying abroad on their own accounts
• Increased monetary support for all sports clubs

For more information on King Abdullah’s initiatives, please visit www.saudiembassy.net and follow the Embassy on Twitter (@SaudiEmbassyUSA) or on the Embassy YouTube page.