Cabinet Hail the Green Forum, Summit Outcomes

Under the chairmanship of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, the Saudi Cabinet, virtually, held its weekly session.

At the outset, it hailed the success of the Green Saudi Arabian Initiative Forum and the Green Middle East Initiative Summit, which the Kingdom recently played host, to both.

The Cabinet highlighted the package of qualitative initiatives presented, in order to conserve the environment, face off the climate change challenges as well as to mitigate their adversely fallouts, in addition to lay ground for the appropriate infrastructure to decrease the Carbon emissions, through raising coordination, on a regional basis, in this respect, to effect a world-wide difference, in nature conservation and human being protection, besides raising the quality of life, through finding a better environment for the generations, to come.

Italy’s efforts exerted, in its capacity as the current chair of the G20 was lauded, too, and the Kingdom expressed appreciation of its endeavor to make the workings of the chairmanship a success, during the current year, as it has shown a great deal of commitment to the mutually collective action and keenness to continue, till making the leaders’ summit, that to take place, shortly, in Rome, on Oct. 30-31, a success.

Minister of tourism or his deputy was authorized to discuss with British side a memo of understanding on the domain of tourism.

While the Minister of environment, water and agriculture was authorized to discuss with the United Nations Convention to Combat Desertification in Those Countries Experiencing Serious Drought and/or Desertification, Particularly in Africa (UNCCD) Secretariat, on a draft-agreement.

It approved the payments and their services system as well as licensing Sahar International Bank to open a branch, in the Kingdom, to practice banking workings and to authorize the Minister of finance, or his deputy, to decide on any further application or request to open other branches for the mentioned bank, across the Kingdom.

Approving the Entertainment Authority to sign a memo of understanding with the Finance Guarantee Program (Kafala) for the small and medium enterprises, to make clear the mechanism for program guaranteeing loans of the small and medium size enterprises, operating in the entertainment sector.

The Cabinet concluded by reviewing an annual report on the Saudi Industrial Development Fund.