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Saudi Arabia has announced two key initiatives worth nearly SR39 billion ($10.3 billion) - for funding the circular carbon economy and also providing clean fuel to help feed 750 million people worldwide - at the debut Middle East Green Initiative Summit.
Saudi Arabia will plant 450 million trees and rehabilitate 8 million hectares of degraded lands by 2030 as part of the Saudi Green Initiative strategies costing SR700 billion ($186.63 billion) announced by HRH Crown Prince Mohammed bin Salman Al Saud.
It involves an investment of SAR700bn, with the minister of energy adding that the initiative will not have an adverse economic impact on oil exporters.