Identifier
Created
Classification
Origin
09RIYADH1535
2009-11-18 11:57:00
CONFIDENTIAL
Embassy Riyadh
Cable title:
SAUDI FUND ON RECENT $380 MILLION FOR PAKISTAN
how-toVZCZCXRO1383 PP RUEHDE RUEHDH RUEHDIR DE RUEHRH #1535 3221157 ZNY CCCCC ZZH P 181157Z NOV 09 FM AMEMBASSY RIYADH TO RUEHC/SECSTATE WASHDC PRIORITY 1943 INFO RUEHZM/GULF COOPERATION COUNCIL COLLECTIVE PRIORITY RUEHIL/AMEMBASSY ISLAMABAD PRIORITY 4814 RUEAIIA/CIA WASHDC PRIORITY RUEKDIA/DIA WASHINGTON DC PRIORITY RUEATRS/DEPT OF TREASURY WASHDC PRIORITY RHEHNSC/NSC WASHDC PRIORITY RUMICEA/USCINCCENT INTEL CEN MACDILL AFB FL PRIORITY
C O N F I D E N T I A L RIYADH 001535
SIPDIS
DEPT FOR NEA/ARP AND S/SRAP
E.O. 12958: DECL: 11/18/2019
TAGS: EAID PREL PK SA
SUBJECT: SAUDI FUND ON RECENT $380 MILLION FOR PAKISTAN
REF: RIYADH 1365
Classified By: Deputy Chief of Mission Susan L. Ziadeh for reasons 1.4
(b) and (d).
C O N F I D E N T I A L RIYADH 001535
SIPDIS
DEPT FOR NEA/ARP AND S/SRAP
E.O. 12958: DECL: 11/18/2019
TAGS: EAID PREL PK SA
SUBJECT: SAUDI FUND ON RECENT $380 MILLION FOR PAKISTAN
REF: RIYADH 1365
Classified By: Deputy Chief of Mission Susan L. Ziadeh for reasons 1.4
(b) and (d).
1. (U) The Pakistan official news agency reported November 10
that Yousef Al-Bassam, managing director of the Saudi Fund
for Development (SFD),signed three agreements earlier that
day to disperse $380 million in aid to Pakistan (reftel).
These were an agreement to provide a $200 million time
deposit to the Pakistan central bank, an agreement to provide
a $100 million export credit for the importation of
fertilizer from Saudi Arabia, and an agreement to provide an
$80 million soft loan to partially finance the Neelum-Jhelum
hydropower project. The article described the first two
agreements as part of the $700 million that Saudi Arabia
pledged in assistance for Pakistan at the Tokyo donors'
conference in April, and the third as part of "regular
ongoing assistance."
2. (C) In contrast to the media report, Mohammed Al-Arifi,
the director for Asia projects at the SFD, told Econoff
November 17 that all three projects were part of Saudi
Arabia's $700 million pledge (this matches what we were told
in October in advance of the signing). He said SFD officials
had held "very productive" meetings with Pakistani officials
during their trip and that the Pakistanis had presented
additional hydropower projects for consideration (for the
dispersement of the remaining $220 million in infrastructure
loans promised in Tokyo). Al-Arifi indicated the SFD is
likely to send a team in early 2010 to evaluate these
projects.
SMITH
SIPDIS
DEPT FOR NEA/ARP AND S/SRAP
E.O. 12958: DECL: 11/18/2019
TAGS: EAID PREL PK SA
SUBJECT: SAUDI FUND ON RECENT $380 MILLION FOR PAKISTAN
REF: RIYADH 1365
Classified By: Deputy Chief of Mission Susan L. Ziadeh for reasons 1.4
(b) and (d).
1. (U) The Pakistan official news agency reported November 10
that Yousef Al-Bassam, managing director of the Saudi Fund
for Development (SFD),signed three agreements earlier that
day to disperse $380 million in aid to Pakistan (reftel).
These were an agreement to provide a $200 million time
deposit to the Pakistan central bank, an agreement to provide
a $100 million export credit for the importation of
fertilizer from Saudi Arabia, and an agreement to provide an
$80 million soft loan to partially finance the Neelum-Jhelum
hydropower project. The article described the first two
agreements as part of the $700 million that Saudi Arabia
pledged in assistance for Pakistan at the Tokyo donors'
conference in April, and the third as part of "regular
ongoing assistance."
2. (C) In contrast to the media report, Mohammed Al-Arifi,
the director for Asia projects at the SFD, told Econoff
November 17 that all three projects were part of Saudi
Arabia's $700 million pledge (this matches what we were told
in October in advance of the signing). He said SFD officials
had held "very productive" meetings with Pakistani officials
during their trip and that the Pakistanis had presented
additional hydropower projects for consideration (for the
dispersement of the remaining $220 million in infrastructure
loans promised in Tokyo). Al-Arifi indicated the SFD is
likely to send a team in early 2010 to evaluate these
projects.
SMITH