Lebanon fund plans in Saudi

A group of Arab investors, led by Saudi billionaire Sheikh Saleh Kamel, is planning to launch a campaign during Ramadan to raise US $2 billion (LBP3 trillion) for reconstruction and aid in Lebanon

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By  Angela Giuffrida Published  September 16, 2006

A group of Arab investors, led by Saudi billionaire Sheikh Saleh Kamel, is planning to launch a campaign during Ramadan to raise US $2 billion (LBP3 trillion) for reconstruction and aid in Lebanon. The group is calling on all factions in the Middle East to donate in a bid to reach its target. At an international donors’ conference held in Sweden earlier this month, Qatar and Kuwait each pledged $300 million, while Saudi Arabia gave $60 million, the UAE gave $50 million and $122 million came from the Arab Fund. Around $3.5 million in aid has so far been given by the Sheikh Mohammad Bin Rashid Humanitarian and Charitable Foundation.

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