HomeEconomyBiden to announce $1 bn in food security funding at summit today
By Economy Middle East
July 16, 2022 11:27 am

Biden to announce $1 bn in food security funding at summit today

Saudi, US sign 18 agreements and cooperation memoranda 
Signing 18 agreements and memoranda of cooperation

A senior official in the US administration announced that US President Joe Biden will announce today, Saturday, during an Arab summit, that the US will allocate $1 billion  in new aid in the short and long term for food security in the Middle East and North Africa.

Reuters quoted the official as saying that the leaders of the Gulf Cooperation Council countries (GCC) will also commit to providing $3 billion over the next two years in projects in line with the US’ partnerships in global infrastructure and investments.

Signing agreements


On the sidelines of Biden’s visit to the Kingdom, Saudi and the US signed 18 agreements and memoranda of cooperation in the fields of space, investment, energy, communications and health.

The Saudi Press Agency reported today that the signing took place between the Saudi Minister of Energy, Prince Abdulaziz bin Salman bin Abdulaziz, and the Ministers of Investment, Communications and Health in the Kingdom, with their counterparts in the United States.

Among the agreements signed between the two sides, 13 were signed by the Ministry of Energy, the Ministry of Investment, the Royal Commission for Jubail and Yanbu, and a number of private sector companies, with a group of leading American companies.

The Saudi Space Authority and the US Space Agency (NASA) also signed the “Artemis” agreement to explore the moon and Mars with NASA, to join the international coalition,  in the field of civil exploration and the use of the moon and Mars Comets and asteroids for peaceful purposes.

The Ministry of Communications and Information Technology signed a memorandum of cooperation with IBM, a leading company in the field of digital technology, to qualify 100,000 young men and women over a period of five years within eight innovative initiatives aimed at enhancing the Kingdom’s position as a pivotal center for technology and innovation in the Middle East. and North Africa.

The Saudi and US ministries of health also signed a memorandum of joint cooperation in the fields of public health, medical sciences and research, aimed at supporting and strengthening existing relations in the fields of public health between individuals, organizations and institutions, unifying efforts to address public health issues and medical, scientific and research challenges, and exchanging information, experts and academics.

This is in addition to the joint training of workers in the health and medical fields, the proper application of health information systems, research, development and health innovation.