King Abdullah gives USD 35 billion to citizens
24. February 2011. | 16:50
Source: Tanjug
Saudi King Abdullah returned home from abroad after a three-month medical absence, and ordered that some USD 37 billion be allocated for home loans, as well as for unemployment and education assistance for poor families, Saudi media reported.
Saudi King Abdullah returned home from abroad after a three-month medical absence, and ordered that some USD 37 billion be allocated for home loans, as well as for unemployment and education assistance for poor families, Saudi media reported.
The King ordered that 40 billion riyals be provided for interest-free loan fund for Saudis who want to buy or build houses.
A sum of billion riyals is reserved for social aid, and 1.2 billion riyals are allocated for different social funds and programs. Government workers will receive a 15 percent cost of living adjustment.
About 480 million riyals will be given to the Education Ministry to assist poor pupils and students by providing them with clothes, backpacks and other necessities.
Along with the financial aid, the King also announced that a large number of prisoners will be released from jails.
According to Saudi media, this is the biggest financial assistance to Saudi citizens in country’s modern history.
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