Prince Alwaleed donates US$ 27 million to help Palestinians
Prince Alwaleed Bin Talal, Chairman of the Kingdom Holding Company announced a $27 million donation to the Palestinian people on Thursday 11 April 2002, during a live donation drive on Saudi television.
Prince Alwaleed Bin Talal, Chairman of Kingdom Holding Company announced a $27 million donation to the Palestinian people on Thursday 11 April 2002, during a live donation drive on Saudi television.
The $13.3 million cash portion was earmarked to help rebuild the infrastructure destroyed by the Israeli occupation army during their offensive on the West Bank and Gaza Strip during the past two weeks.
The second half of the donation, the in-kind portion also worth $13.3 million, comprises 100 four-wheel drive vehicles at a cost of $1.6 million and 2 million articles of clothing costing $11.73 million; the market price of these garments amounts to $24.5 million.
Prince Alwaleed said he was deeply hurt by the destruction of Palestinian homes and property brought on by the Israeli aggression. The aggression has resulted in the total destruction of Palestinian infrastructure. "Our donation is an Islamic and an Arabic duty," commented Prince Alwaleed.
Despite the siege of President Yasser Arafat, Prince Alwaleed stayed in touch with him to stay abreast of developments.
In the past week telethons in support of the Palestinian people in Jordan, Saudi Arabia, the United Arab Emirates have raised millions of dollars.