RIYADH: Saudi Arabia’s cabinet on Tuesday affirmed that the Kingdom is set to launch the second edition of the Middle East Green Initiative Summit and the Saudi Green Initiative Forum in Egypt next month, coinciding with the UN Climate Change Conference.

The Kingdom remains committed to supporting multilateral action on the environmental challenges facing the planet, said Acting Minister of Media Majid Al-Qasabi in a statement issued by the Saudi Press Agency.

At the beginning of the session, Crown Prince Mohammed bin Salman, the nation’s prime minister, who chaired the meeting at Al-Yamamah Palace in Riyadh, briefed the ministers on his telephonic conversation with Algeria’s President Abdelmadjid Tebboune on ways to develop joint cooperation between the two countries.

The cabinet reviewed the Kingdom’s foreign policy which is aimed at strengthening multilateral efforts through regional and international organizations, to address common challenges, especially on humanitarian aid, security, and environmental protection.

Al-Qasabi said that the cabinet discussed the launch of the National Initiative for Global Supply Chains, which aims to strengthen the Kingdom’s position as a major world hub. He said the plan is to attract quality industrial and service investments worth SR40 billion ($10.6 billion) within the first two years of its operations, which will contribute to the stability and growth of the global economy.

The council of ministers reiterated that Saudi Arabia continues to support international efforts and initiatives aimed at eradicating measles and polio through the two agreements signed by the King Salman Humanitarian Aid and Relief Center with the World Health Organization and the UN Children’s Fund.

The cabinet also discussed the Kingdom’s participation in the high-level conference — the International and Regional Border Security and Management Cooperation to Counter Terrorism and Prevent the Movement of Terrorists in Tajikistan — where it highlighted its regional and international efforts.

The cabinet announced several decisions including a draft cooperation agreement with Niger, and a draft memorandum of understanding on culture with Tunisia.

The cabinet authorized the minister of environment, water and agriculture to sign a draft agreement with the Center for Environment and Development for the Arab Region and Europe, and for the investment minister to ink a draft memorandum with the Czech Republic.

The council of ministers further approved an export credit agreement with the UK.