The Kingdom of Saudi Arabia stressed its keenness for a stable oil market to maintain the growth and prosperity of the world economy. To achieve this objective, the Kingdom has adopted a fixed and moderate oil policy to ensure oil supplies for the world oil markets.
Saudi Assistant Foreign Minister, Dr Nizar Obaid Madani, in a speech at the 2nd South Summit, Group 77 plus China here today, pointed out that the Kingdom has provided assistance and developmental soft loans worth nearly $83 billion for the last three decades, noting that 73 developing countries have benefited from these loans.
Dr. Madani reviewed in his speech the developments in Iraq and Lebanon; the Kingdom's efforts in combating terrorism; reforms in the United Nations; enlargement of the Security Council; the development of its work; and the Kingdom's stand towards these issues.
He noted that the Kingdom held the International Counter-terrorism Conference in Riyadh last February, which issued important recommendations, particularly the proposal of Crown Prince Abdullah bin Abdulaziz, the Deputy Premier and Commander of the National Guard to set up an International Counter-terrorism Center. Dr. Madani called on the United Nations to adopt these recommendations.
He also called on developed countries and international institutions for a fair and quick rescheduling of the debts of the developing countries.
