The Kingdom of Saudi Arabia has announced allocation of $400 million, including $250 million as soft development loans for financing projects of reconstruction and $150 million for financing exports of countries hit by tsunami on Dec 26, 2004. The money will be extended through the Saudi Fund For Development (SFD) in cooperation with the concerned authorities in those countries. This was announced by Saudi Minister of State and Member of the Cabinet Dr Musaed bin Mohammed Al-Eiban, while delivering the Kingdom's speech at the Afro-Asian Summit, currently held in Jakarta on the occasion of the 50th anniversary of convening Bandug Summit in 1955. Dr Al-Eiban hoped that the conference would positively contribute to enhancing solidarity among the Afro-Asian countries. He highlighted the important role played by Indonesia at Bandug Summit, which underscored the right of various countries to attain independence. 'Unfortunately, the Palestinians have been deprived of their right to independence', he said adding that the Muslim countries have chosen peace as their strategic option. --MORE 1535 Local Time 1235 GMT
