• News
    • Latest news
    • News search
    • Health
    • Finance
    • Food
    • Career news
    • Content series
    • Try Devex Pro
  • Jobs
    • Job search
    • Post a job
    • Employer search
    • CV Writing
    • Upcoming career events
    • Try Career Account
  • Funding
    • Funding search
    • Funding news
  • Talent
    • Candidate search
    • Devex Talent Solutions
  • Events
    • Upcoming and past events
    • Partner on an event
  • Post a job
  • About
      • About us
      • Membership
      • Newsletters
      • Advertising partnerships
      • Devex Talent Solutions
      • Contact us
Join DevexSign in
Join DevexSign in

News

  • Latest news
  • News search
  • Health
  • Finance
  • Food
  • Career news
  • Content series
  • Try Devex Pro

Jobs

  • Job search
  • Post a job
  • Employer search
  • CV Writing
  • Upcoming career events
  • Try Career Account

Funding

  • Funding search
  • Funding news

Talent

  • Candidate search
  • Devex Talent Solutions

Events

  • Upcoming and past events
  • Partner on an event
Post a job

About

  • About us
  • Membership
  • Newsletters
  • Advertising partnerships
  • Devex Talent Solutions
  • Contact us
  • My Devex
  • Update my profile % complete
  • Account & privacy settings
  • My saved jobs
  • Manage newsletters
  • Support
  • Sign out
Latest newsNews searchHealthFinanceFoodCareer newsContent seriesTry Devex Pro
    • News

    World Bank to work with Saudi on loan initiative

    <i>Reuters reports that the World Bank and Saudi Arabia will collaborate in developing a loan scheme to help poor nations deal with soaring oil prices.</i> The World Bank is prepared to help Saudi Arabia firm up its USD500 million &#8220;Energy for the Poor&#8221; initiative. The money would come from the Saudi Fund for Development. &#8220;We will work with the Saudi government to explore how b&#8230;

    By Newswire Newsletter // 24 June 2008



    The World Bank is prepared to help Saudi Arabia firm up its USD500 million “Energy for the Poor” initiative. The money would come from the Saudi Fund for Development. “We will work with the Saudi government to explore how best to support the initiative announced by King Abdullah to address the energy needs of the world’s poorest countries,” World Bank president Robert Zoellick remarked. “The combination of high fuel and energy costs is having a devastating impact on the poor, putting an especially large burden on the 1 billion people who live on less than USD1 a day, many of whom spend two-thirds of their income on food for their families and on energy and transport,” he continued. At a gathering of oil producing and consuming countries in Jeddah, King Abdullah requested the World Bank to hold a donor conference on the proposed program.

    Source: World Bank to help with Saudi loan plan-Zoellick (Reuters)

    • Funding
    • Banking & Finance
    • Energy
    Printing articles to share with others is a breach of our terms and conditions and copyright policy. Please use the sharing options on the left side of the article. Devex Pro members may share up to 10 articles per month using the Pro share tool ( ).

    About the author

    • Newswire Newsletter

      Newswire Newsletter

    Search for articles

    Most Read

    • 1
      How low-emissions livestock are transforming dairy farming in Africa
    • 2
      Opinion: Mobile credit, savings, and insurance can drive financial health
    • 3
      Opinion: India’s bold leadership in turning the tide for TB
    • 4
      How AI-powered citizen science can be a catalyst for the SDGs
    • 5
      WHO names new directors in ongoing restructure
    • News
    • Jobs
    • Funding
    • Talent
    • Events

    Devex is the media platform for the global development community.

    A social enterprise, we connect and inform over 1.3 million development, health, humanitarian, and sustainability professionals through news, business intelligence, and funding & career opportunities so you can do more good for more people. We invite you to join us.

    • About us
    • Membership
    • Newsletters
    • Advertising partnerships
    • Devex Talent Solutions
    • Post a job
    • Careers at Devex
    • Contact us
    © Copyright 2000 - 2025 Devex|User Agreement|Privacy Statement