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