Saudi Investment Minister Khalid al-Faleh says G20 has suspended 14 billion in loans to 73 countries led by Saudi Arabia.
Referring to the convening of the G20 Summit under the auspices of the Kingdom, he said that Saudi Arabia seeks to enhance cooperation in the group’s trade and investment policies.
Saudi Arabia pursues policies aimed at strengthening multilateral trade, stabilizing economic diversity and accelerating investment.
He said that the G20 Ministers of Investment and Trade have discussed international trade issues. In particular, the Riyadh formula for the future of the World Trade Organization has been discussed.
He added that the G20 has lifted a number of sanctions on global trade and adopted a number of measures to strengthen global trade and investment.
Khalid al-Faleh said that the G20’s efforts have played a vital role in mitigating the effects of the Corona epidemic. The G20 countries have allocated 11 trillion to save the global economy from the effects of the Corona epidemic,” he added.
He also said that the country has created an environment to promote cooperation among the G20 countries.
In this regard, the investment policy is aimed at empowering youth and women, easing barriers to global trade and helping the poorest countries.