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Saudi Arabia stresses the importance of securing energy supplies to face climate challenges

King Salman orders allocating $5.33bln to face rising global prices

During the cabinet session chaired by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, (Tuesday), at Al-Salam Palace in Jeddah, Saudi Arabia stressed the contents of the Kingdom’s speech before the ministerial meeting of the OPEC Fund for International Development.

It highlighted the importance of energy supply security, economic development, and climate change.

The Saudi Minister of Information, Dr. Majid Al-Qasabi, stated that leaders of many countries welcomed Saudi initiatives like the (Green Saudi Arabia), (and Green Middle East) and supported Saudi efforts in the field of climate change.

The minister indicated that the Council of Ministers touched on what was issued by the International Monetary Fund after the consultations of Article IV for the year 2022.

The IMF confirmed the strength of the Kingdom’s economy and financial situation, and the positive economic prospects for it in the short and medium-term, in addition to the strength of its external economic position.

This is due to the efforts of the state and its economic reforms under (Vision 2030), towards improving the business environment, simplifying regulations, digitizing government operations, and working on a wide range of projects in several sectors.

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