SAUDI ARABIA SAUDI ARABIA | Overview

Official name: Kingdom of Saudi Arabia

Capital: Riyadh

Official languages: Arabic

Monetary unit: Saudi Rial (SAR)

Population (million): 27.3

Total area (sq km): 2,149,690


OVERVIEW

Saudi Arabia is located in the Middle East, which occupies most of the Arabian Peninsula and is bordered by Jordan, Iraq and Kuwait in the North, Oman and Yemen in the South, Bahrain, Qatar, UAE and the Gulf in the East, and the Red Sea in the West. Being the largest economy in the Arab world, it is a high-income country where GDP per capita has increased significantly over the last 10 years.

Saudi Arabia witnessed economic prosperity and progress in most of socio-economic development domains, which produced substantial improvement in standards of living, health and education services, environmental conditions as well as potentials of comprehensive development. to keep the budget spending high to raise standard of living and improve quality of life, diversify the economic base, enhance non-oil revenues, competitiveness, and finally develop human capital.


Year joined ICD:

Number of projects approved: 69

Gross Approval ($US million): 542.57

Gross Disbursement ($US million): 290.39