The Kingdom of Saudi Arabia welcomed the United Nations report on the impact of foreign debts on indebted countries, including the other related international obligations that might deprive the borrower from all human rights, particularly the economic, social and cultural rights. Speaking before the UN Human Rights Council here today, Khalid Manzalawe, member of Saudi Arabia's delegation to the HRC, said the Kingdom's delegation was carefully briefed on the contents of a UN report dealing with the impact of foreign debts on human rights, particularly when the assistance goes to a dictatorial state with the aim of alleviating the impact of foreign debt. On the contrary, such assistance will turn to an auxiliary to persuade the tyrannical regime to continue violating human rights as the assistance effect would never reach its target, the report said. Saudi Arabia's representative said the statement is of great interest despite that the world, including the Kingdom of Saudi Arabia, have no concrete evidence on the ground to support this notion as everyone is doing his best to help the heavily-indebted countries who suffer from continuing touch conditions imposed by creditors. However, we continue to urge others to look after whatever alleviates such financial burdens, he said, adding that the Kingdom has, in this regard, offered unrecoverable assistance and soft loans to developed and underdeveloped countries worth more than $120 billion over the last three decades through governmental agencies and specialized organizations or direct supervision of projects benefiting the people of those countries and pardoned more than $6 billion of due debts of poor countries according to developmental standards. He added that Saudi Arabia is now home of 10 million laborers on temporary contracts from those countries, a measure that indirectly helps to support their economies. The Kingdom also pours billions in direct investments in developing and advanced countries to help stabilize the world economy, he said, adding that Saudi Arabia's foreign assistance is three fold higher than the international assistance size for developing countries. He concluded that Saudi Arabia ranked second worldwide among countries exporting monetary remittances to developing countries over the period from 2008 to 2013 at a rate of $28 billion annually according to the Word Bank reports.
