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Saudi Arabia Donates $500 Million to Help Food Crisis

Saudi Arabia made an impressive $500 million donation to the United Nations World Food Program, the UN announced Friday.

The country, benefiting from high oil prices while many others feel the pinch, is doing its part to help assuage the developing global crisis caused by rising food prices. The effects have been seen all over the world. In Mexico, the government is preparing for a backlash against rising tortilla prices, in Suburbia, USA, big box stores have rationed staples, and in Haiti the government collapsed over the crisis.

Saudi Arabia produces 9 million barrels of oil a day and oil prices have now topped $130 a barrel. You don't even have to do the math to know that's a whole lot of revenue.

The UN World Food Program, the world's largest humanitarian operation, set a goal of $755 million to be raised by all its member agencies. Thirty-two countries added to the Saudi donation, contributing a total of $960 million, exceeding the target significantly. Hopefully the money will quickly help the 130 million of people in hunger as a result of rising food prices.

Source

Join The Conversation
UnDave35 UnDave35 9 years
It looks like neither. It's just a one time $500 million donation.
janneth janneth 9 years
That's good. Are they donating 500 million each week? or each month?
UnDave35 UnDave35 9 years
Just oil. They are trying to improve their image by donating money so the UN can buy food.
raciccarone raciccarone 9 years
So now the world is dependent on them for oil and food?
UnDave35 UnDave35 9 years
I'm not going to speculate If there is any sort of motive behind the donation. I am glad to see they are using some of the extra money they are bilking America out of towards the betterment of the rest of the world.
ShePirate2010 ShePirate2010 9 years
that's nice of them!!
blondie01 blondie01 9 years
help*
blondie01 blondie01 9 years
very generous of them however i can't hekp but wonder if there is some sort of underlying motive here
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