VOL. XLIV

No. 19

7-May-2001

SAUDI ARABIA

Prince al-Walid Ibn Talal Sets Up $267Mn Charity Fund

Prince al-Walid ibn Talal ibn 'Abd al-'Aziz announced on 30 April that he had established a $267mn fund to benefit the "needy" within Saudi Arabia. The prince told a press conference that the fund "has been set up to finance projects to benefit the needy," and explained that 10% would be allocated to non-Saudi projects, citing the Palestinians as potential beneficiaries. He also said that his company,...