Arab News Japan

TOKYO: Saudi Arabia is planning to help Pacific island countries tackle climate change and other external challenges, according to Sultan bin Abdulrahman Al-Marshad, CEO of the Kingdom’s development agency, in an interview with Nikkei Asia.

“Asia and the Pacific, a vast and diverse continent, is not only a dynamic center of economic activity, but is also home to over 60 percent of the world’s population,” Al-Marshad noted.

However, he pointed out, “Small island states are vulnerable to natural disasters and external economic shocks due to their small size, remote location and limited resources.” The answer, he says, is to build up resilience and promote long-term growth.

The agency – formally the Saudi Fund for Development – funded development programs in 10 new small island nations last year and also signed a $25 million agreement with the Asian Development Bank to co-finance renewable energy development in the Solomon Islands. The SFD’s activities in Asia and the Pacific account for 35 percent of its development assistance.

Al-Marshad expressed hope that there could be cooperation with Japan in international development, calling the country one of Saudi Arabia’s most important partners in the field.

“Both countries share a common mission to strengthen multilateral and bilateral cooperation to promote economic recovery, climate change mitigation and public health,” he said.