recoverable aid and soft loans provided by the Kingdom during the last three decades amounted to US$ 100 billion, from which 95 developing countries benefited. This amount represents 4% of the Kingdom's GNP, which is far higher than the target set by the United Nations. In keeping with the concern that the Custodian of the Two Holy Mosques is showing for the large-scale promotion of education in the developing countries, the Kingdom announced its allocation of US$ 500 million for education projects in those countries. With regard to debt relief, the Kingdom has waived more than US$ 6 billion in debts due to it from developing countries and has contributed its full quota to the Heavily Indebted Poor Countries (HIPC) Initiative of the International Monetary Fund. The Kingdom is renewing its appeal to the industrialized developed countries to honour their commitments in regard to direct aid quotas, debt relief in favour of the most needy countries and market access, without unjustifiable restrictions, for the exports of developing countries. Mr. President, The urgent issues with which the world is faced, such as climate change, food security and rising prices of basic commodities, necessitate cooperation by all components of the international community in order to devise equitable solutions that take into account the interests of all in conformity with the principle of common but differentiated responsibilities between the developed and the developing countries, as provided for in the United Nations Framework Convention on Climate Change. It would be unfair to burden some beyond their capacities while showing indulgence to others who have been more instrumental in exacerbating the problem and are more capable of bearing the burdens entailed by solutions thereto. Shouldering its international responsibilities, the Kingdom of Saudi Arabia announced, during the last OPEC Summit in Riyadh, its donation of an amount of US$ 300 million for the establishment of a special fund for research on energy, the environment and climate change. My country has also contributed US$ 500 million to the World Food Programme to meet the rising costs of food, thereby assisting 62 developing countries in all parts of the world. The Kingdom will also be covering the costs of holding the Food and Agriculture Organization's World Food Summit, which is due to be held on 16 November 2009. --More
