JEDDAH: The Cabinet has approved a 25-year SR51.1 billion loan to the Saudi Electricity Company to provide much-needed electricity projects for the Kingdom. The financing is based on the Council of Minister's decision No.161 dated April 27, 2010. The money will be used to cover the expected financial deficit for necessary and urgent electricity projects which must be signed during this year and 2012 (1432 and 1433H). Meanwhile, the Cabinet, presided over by King Abdullah, Custodian of the Two Holy Mosques, at Al-Salam Palace in Jeddah, reviewed the latest events in the region including the violence, deaths and injuries of many people. The Cabinet reiterated its stance that measures should be taken to protect the lives of citizens and ensure peace and stability in these Arab countries. The Cabinet condemned the storming of Al-Aqsa Mosque by Israeli extremists and the burning of a mosque in the West Bank by extremist Jews. The Cabinet authorized the Chairman of the Human Rights Commission (HRC) to hold talks and sign a Memorandum of Understanding between the HRC and the United Nations High Commission for Human Rights. Following the session, Dr. Abdul Aziz Khoja, Minister of Culture and Information, wished all male and female students well in their upcoming final examinations. He also thanked the teachers for their efforts throughout the year. Khoja said King Abdullah had also briefed the Cabinet on the results of talks, consultations and calls he had dealt with during the week with a number of leaders and their envoys, including Abdoulaye Wade, Senegalese President; Hallemariam Dessalegn, Deputy Prime Minister and Minister of Foreign Affairs of Ethiopia; and Christine Lagarde, the French Minister of Economy, Finance and Industry.
