2007 News Story

King Abdullah inaugurates Saudi-Spanish investment fund

  King Abdullah and King Juan Carlos inaugurate a Saudi-Spanish investment fund

On the first full day of his state visit to Spain, Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz attended the inauguration of a Saudi-Spanish fund for investment in the Kingdom’s infrastructure, accompanied by Spanish King Juan Carlos. 

The Saudi-Spanish fund will have a capital of $5 billion and will be financed almost exclusively by the private sectors of both countries. 

Also today, King Abdullah met with King Juan Carlos for talks at the guest residence in Madrid. The meeting focused on international and regional issues as well as bilateral cooperation.

In the evening, King Abdullah is scheduled to meet with Prime Minister Jose Luis Zapatero for talks before attending a banquet in his honor at the presidential palace.

King Abdullah’s visit to Spain began yesterday with a banquet hosted in his honor by King Juan Carlos. King Abdullah was also awarded the Order of the Golden Fleece (Orden del Toisón de Oro), Spain’s most prestigious honor.

In remarks at the royal banquet, King Abdullah drew attention to the challenges in the Middle East region, including terrorism, civil wars, the Palestinian- Israeli conflict and a stagnant peace process. He urged the international community to work together to contain those challenges before it is too late.

The royal visit to Spain is the first by a Saudi king in 26 years. Then-Crown Prince Abdullah previously visited the country in 1984.