Wednesday, January 19, 2011

Saudi Arabia always pledges money but rarely delivers

"Saudi Arabia has pledged $500 million for a $2-billion Arab League fund to support small and medium enterprises (SMEs) and create jobs for citizens in Arab countries, Finance Minister Ibrahim Al-Assaf said on Tuesday.  Speaking to reporters here after attending a meeting of the Arab Economic and Social Council, he said the Saudi contribution accounted for 40 percent of the amount deposited in the fund's account."