Owais
SENIOR MEMBER
- Joined
- Oct 3, 2005
- Messages
- 4,512
- Reaction score
- 0
Saudi gives huge aid to Lebanon, Palestine says Israel attacks threaten regional war
RIYADH (updated on: July 25, 2006, 18:49 PST): Saudi King Abdullah decided on Tuesday to grant Lebanon's central bank one billion dollars to shore up its currency and 500 million dollars in aid to help rebuild the country as Israel's devastating onslaught continued, state media said.
King Abdullah also warned of war in the Middle East if Israel continues attacking Lebanon and the Palestinians, in an apparent appeal to the United States, a key ally, to help end the fighting.
Separately, King Abdullah announced 250 million dollars to the Palestinians in aid to help rebuild the Palestinian territories, state media said.
King Abdullah bin Abdul Aziz has given instructions to give "250 million dollars in aid to rebuild the Palestinian territories and also to be a nucleus for an Arab fund to help the Palestinians," said a royal statement read on Saudi television.
The same decree also said that King Abdullah "has given instructions to give a grant of 500 million dollars to Lebanon to be a nucleus for an Arab fund to reconstruct Lebanon".
The kingdom is the world's top oil exporter.
"Saudi Arabia warns everybody that if the peace option fails because of Israeli arrogance, there will be no other option but war," state-owned media quoted the king as saying.
"No one can predict what will happen if things get out of control," he said in a statement.
"The Arabs have declared peace as a strategic choice... and put forward a clear and fair proposal of land for peace and have ignored (Arab) extremist calls opposing the peace proposal... but patience cannot last forever."
The king was referring to an Arab peace initiative, proposed by Saudi Arabia and adopted in a 2002 Arab summit, which offers Israel a comprehensive peace in return for Arab land it seized in a 1967 Middle East war.
The United States has backed Israel's military campaign against Hizbullah in south Lebanon.
Riyadh sees Washington as the only country that has sufficient influence over Israel to force it to halt.
"I think they are scared of being against public opinion which could turn against them. As this goes on longer and more and more Lebanese are killed, it looks bad for them," said a Western diplomat in Riyadh.
Al-Ikhbariya said Saudi Arabia had pledged $500 million to rebuild Lebanon and $250 million for the Palestinians, who are also under Israeli military siege following the capture of an Israeli soldier during an operation.
Saudi Arabia has been a major political and economic sponsor of Lebanon since the 1975-1990 civil war was ended by a 1989 agreement made in the Saudi city of Taif.
Late prime minister Rafik Hariri, who led reconstruction efforts, was a Saudi national. Prince Alwaleed bin Talal is one of Lebanon's major foreign investors, and Saudi Arabia has played a key role in propping up the Lebanese pound.
RIYADH (updated on: July 25, 2006, 18:49 PST): Saudi King Abdullah decided on Tuesday to grant Lebanon's central bank one billion dollars to shore up its currency and 500 million dollars in aid to help rebuild the country as Israel's devastating onslaught continued, state media said.
King Abdullah also warned of war in the Middle East if Israel continues attacking Lebanon and the Palestinians, in an apparent appeal to the United States, a key ally, to help end the fighting.
Separately, King Abdullah announced 250 million dollars to the Palestinians in aid to help rebuild the Palestinian territories, state media said.
King Abdullah bin Abdul Aziz has given instructions to give "250 million dollars in aid to rebuild the Palestinian territories and also to be a nucleus for an Arab fund to help the Palestinians," said a royal statement read on Saudi television.
The same decree also said that King Abdullah "has given instructions to give a grant of 500 million dollars to Lebanon to be a nucleus for an Arab fund to reconstruct Lebanon".
The kingdom is the world's top oil exporter.
"Saudi Arabia warns everybody that if the peace option fails because of Israeli arrogance, there will be no other option but war," state-owned media quoted the king as saying.
"No one can predict what will happen if things get out of control," he said in a statement.
"The Arabs have declared peace as a strategic choice... and put forward a clear and fair proposal of land for peace and have ignored (Arab) extremist calls opposing the peace proposal... but patience cannot last forever."
The king was referring to an Arab peace initiative, proposed by Saudi Arabia and adopted in a 2002 Arab summit, which offers Israel a comprehensive peace in return for Arab land it seized in a 1967 Middle East war.
The United States has backed Israel's military campaign against Hizbullah in south Lebanon.
Riyadh sees Washington as the only country that has sufficient influence over Israel to force it to halt.
"I think they are scared of being against public opinion which could turn against them. As this goes on longer and more and more Lebanese are killed, it looks bad for them," said a Western diplomat in Riyadh.
Al-Ikhbariya said Saudi Arabia had pledged $500 million to rebuild Lebanon and $250 million for the Palestinians, who are also under Israeli military siege following the capture of an Israeli soldier during an operation.
Saudi Arabia has been a major political and economic sponsor of Lebanon since the 1975-1990 civil war was ended by a 1989 agreement made in the Saudi city of Taif.
Late prime minister Rafik Hariri, who led reconstruction efforts, was a Saudi national. Prince Alwaleed bin Talal is one of Lebanon's major foreign investors, and Saudi Arabia has played a key role in propping up the Lebanese pound.
