By Nneka Nwogwugwu
Saudi Arabia’s environment minister has stated that environmental protection is considered in getting investment in the country.
Speaking at the Future Minerals Forum in Riyadh on Thursday, the minister, Abdulrahman Al Fadley said International banks will only fund major projects if they have green credentials.
Addressing delegates, Al Fadley said: “There is no contradiction to remaining committed to environmental demands and the economical growth.
“The international banks determine the protection of the environment as one of the main requirements for funding major projects.
“The ministry wants to reinforce the effective partnership for the quality of life and the protection of the environment for this generation and coming generations. Protecting the environment and limiting pollution and protecting the ecosystems is a very important matter and to achieve sustainable growth with social and economical dimensions for the good of coming generations.”
Saudi Arabia is on a journey to move away from an over-reliance on oil as the driver for economic growth, as part of its Vision 2030 initiative.
