Mohammed Al-Jadaan, the Minister of Finance, has expressed his welcome for Syria’s return to the Arab League. He emphasized that the series of global crises have highlighted the significance of economic integration among Arab nations, the necessity of increasing cooperation, and the development of sustainable economic and financial models. These measures contribute to enhancing resilience in the face of various challenges and risks.

In a statement to the Saudi Press Agency (SPA), Al-Jadaan highlighted Saudi Arabia’s commitment to providing conditions conducive to economic stability in the region. The Kingdom has launched multiple initiatives and programs supporting joint Arab efforts. He also mentioned Saudi Arabia’s collaboration with the Arab Coordination Group institutions to enhance food security. These institutions have introduced a financial support package exceeding USD10 billion to address this important aspect.

The minister further noted Saudi Arabia’s dedication to addressing debt challenges through the launch of the Common Framework for Debt Treatments. This framework, approved by the G20 leaders at the Riyadh Summit, stands as the sole internationally agreed-upon mechanism for restructuring the debt of countries facing repayment difficulties. The minister also referred to the Kingdom’s development and humanitarian assistance in support of developing countries, especially the countries of the region, where Saudi Arabia ranked first globally in such endeavours according to Organization for Economic Cooperation and Development data.

Al-Jadaan expressed his hope for collaborative efforts with member states to advance pan-Arab economic and social integration, underscoring the importance of continued progress in this area.

Source: Saudi Press Agency