SAUDI FOLLOW-UP ON TOKYO PLEDGE

UNCLAS RIYADH 000857 SENSITIVE SIPDIS E.O. 12958: N/A TAGS: EAID EFIN PK SA SUBJECT: SAUDI FOLLOW-UP ON TOKYO PLEDGE REF: STATE 61218 ¶1. (SBU) On June 29, EconCouns had an opportunity to speak briefly with Saudi Fund for Development (SFD) Managing Director and Vice Chairman Yousef Al-Bassam regarding Saudi Arabia's follow-up on its pledge at the April 17 Tokyo Donors' Conference. ¶2. (SBU) Al-Bassam said that Saudi Arabia had that very day (June 29) authorized the release of $100 million of its Tokyo pledge as export credits to finance non-oil imports from Saudi Arabia. About three days earlier, Al-Bassam said, the Kingdom had authorized the release of all of the $200 million allocated to support reserves. As for the $300 million destined for infrastructure projects, the SFD had recently allocated $80 million to support dam/hydropower projects. The Kingdom, Al-Bassam said, is awaiting a list of project priorities from the Pakistani Government before allocating the remaining $220 million. ¶3. (SBU) EconCouns reiterated reftel points, including USG's appreciation for the Kingdom's generosity. Al-Bassam had no substantive comment on the UN appeal for internally displaced persons. ERDMAN