Dubai, United Arab Emirates (CNN) – The Saudi Minister of Finance, Muhammad Al-Jadaan, said that his country has changed its way of providing grants and aid to neighboring countries, explaining that it will be conditional on the occurrence of “reforms.”
Al-Jadaan said, on the sidelines of the Davos Forum, on Wednesday: “We are also focusing on our region and we want to be an example for the region, and we also encourage many countries around us to carry out reform work.”
Al-Jadaan added, “We are changing the way we provide and develop aid… We used to give grants and deposits without conditions, and we are changing that, and we are working with multilateral institutions… to say we want to see reforms.”
He continued, “We impose taxes on our people, and we expect countries to do the same, and to do their part. We want to help, but we want everyone to do their part.”
The Saudi finance minister noted that “there are a lot of reforms that have taken place to protect the kingdom’s economy and also to help the global economy.”
The official Saudi Al-Ekhbariya channel published excerpts from Minister Muhammad Al-Jadaan’s remarks.
