Saudi-based Islamic Development Bank pledges $500 million

(WASHINGTON, DC) - An ongoing national fundraising event on Saudi television has raised more than $65 million in cash as of midnight Riyadh time (4 p.m., Thursday, EST) to donate to the victims of the tsunami. Proceeds from this fundraiser, held January 6, are in addition to the $30 million in aid Saudi Arabia has pledged thus far. This amount does not include in-kind contributions from Saudi citizens and companies. The first planes carrying relief supplies began arriving in the region on Sunday, January 2.

Also today, the Saudi-based Islamic Development Bank pledged $500 million in aid to countries affected by the tsunami. The package will be used in relief operations and reconstruction of devastated areas.

The Kingdom’s aid efforts are being coordinated with United Nations agencies to ensure speedy and effective delivery of assistance to the victims of this disaster. Saudi Arabia will continue to assess the situation and calls upon the international community to step up efforts and to enhance coordination with the United Nations to deliver timely assistance to all those devastated by the tsunami.