Saudi Arabia signs $400mln aid deal for Ukraine

By Nada Ali On Feb 27, 2023

Ukrainian President Volodymyr Zelenskyy and Saudi Arabia's Foreign Minister Prince Faisal bin Farhan in Kyiv. Photo Credit: Twitter/KSAMOFA

Saudi Arabia has signed an agreement with Ukraine to supply $400 million humanitarian aid during a high-level delegation’s visit to Kyiv, Saudi Foreign Ministry announced on Sunday.

Under the agreement a $100 million joint cooperation programme has signed to provide humanitarian aid to Ukraine, state news agency SPA reported.

Saudi Fund for Development will finance Ukraine’s oil derivatives of $300 million, as it signed by the fund’s chief executive Sultan Abdulrahman al-Marshad.

The MoU highlighted the Kingdom’s diplomatic efforts aimed at peacefully resolving the Ukrainian crisis through a political solution to help mitigate the social and economic adverse repercussions of the war.

Saudi Foreign Minister Prince Faisal bin Farhan led the Kingdom’s delegation and was received by Ukrainian President Volodymyr Zelenskyy at the presidential residence in Kyiv.