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Economic aid - donor: since 2002, Saudi Arabia has provided more than $480 million in budgetary support to the Palestinian Authority, supported Palestinian refugees through contributions to the UN Relief and Works Agency (UNRWA), provided more than $250 million to Arab League funds for the Palestinians, and pledged $500 million in assistance over the next three years at the Donors Conference in Dec 2007; pledged $230 million to development in Afghanistan; pledged $1 billion in export guarantees and soft loans to Iraq; pledged $133 million in direct grant aid, $187 million in concessional loans, and $153 million in export credits for Pakistan earthquake relief; pledged a total of $1.59 billion to Lebanon in assistance and deposits to the Central Bank of Lebanon in 2006 and pledged an additional $1.1 billion in early 2007 Definition: This entry refers to net official development assistance (ODA) from Organization for Economic Cooperation and Development (OECD) nations to developing countries and multilateral organizations. ODA is defined as financial assistance that is concessional in character, has the main objective to promote economic development and welfare of the less developed countries (LDCs), and contains a grant element of at least 25%. The entry does not cover other official flows (OOF) or private flows. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms. Source: CIA World Factbook - Unless otherwise noted, information in this page is accurate as of September 17, 2009 See Also |
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