Saudi Arabia working with global community to offer advanced COVID-19 policies: Minister

Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan said that the Kingdom will continue working closely with the international community to offer advanced policies for COVID-19 pandemic to ensure better future.

During his speech at Manama Dialogue conference, the minister said that the Kingdom had to adapt to two parallel trends, which often intersect; namely, combating the direct impacts of the coronavirus epidemic as well as promoting the ambitious agenda of the Kingdom's presidency of G20. "Both trends require a strong global commitment," he noted.

The minister added that the Kingdom took some measures to combat the epidemic, such as lowering interest rates, supporting the private sector's financing, boosting the banking sector's liquidity with SAR 50 billion, backing small and medium-sized enterprises and delaying the collection of some taxes and fees.

The coronavirus crisis made the presidency of G20 difficult this year, as it showed the weaknesses that cannot be ignored. However, the Kingdom managed, through its presidency of G20, to show that the international community can cooperate to face crises, he further noted.

"The Kingdom was proud to virtually host the G20 leaders at the Riyadh summit, where they committed to a resilient, comprehensive and sustainable recovery. Throughout its presidency of the G20, the Kingdom led these efforts, and focused this year on empowering individuals, protecting the planet, and harnessing innovation to shape new horizons," the minister said.

He added that this year was exceptional, especially as regards the challenges imposed by coronavirus that threaten the resilience of countries and their cooperation.