2006 News Story

Kingdom allocates $1 billion to fight poverty in Africa

Saudi Arabia has allocated $1 billion to a fund to alleviate poverty in Africa. The fund was established within the Islamic Development Bank (IDB) at the 3rd Extraordinary Session of the Islamic Summit Conference, held in Makkah in December 2005.

The Kingdom made the announcement during the 33rd session of the Islamic Conference of Foreign Ministers in Baku, Azerbaijan June 19-21, 2006.