The President of the Council of Saudi Chambers of Commerce and Industry Eng. Abdullah bin Saeed Al-Mubti described the initiative of the Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz Al Saud and his call for increasing the capital of Arab institutions and common Arab funds launched at the 3rd Arab Economic and Social Development Summit as one of the most important decisions of the Summit as it supports the activities of Arab funds and investment companies and expands lending operations for economic projects in the Arab countries. He said in a press statement today that the distinguished Saudi initiative and the King's declaration about the Kingdom's readiness to pay its share of the increased capital for Arab funds and investment companies reflect the Kingdom's commitment to its leading role towards supporting developmental issues to strengthen the economies of Arab countries, especially the least developed countries, expecting that the volume of increase in those institutions' capital will amount to about $ 10 billion to be directed to strategic projects to increase incomes and job opportunities and investment in Arab countries.
