The Palestinian Ministry of Agriculture signed on Tuesday a four-billion-U.S.-dollar agreement with the Saudi al-Waleed bin Talal Charitable Foundation, to conduct minor agricultural projects to fight poverty in the Palestinian territories, Xinhua reported.
The signing of the agreement was held in the West Bank city of Ramallah and was attended by Palestinian President Mahmoud Abbas and chairman of the foundation, Saudi Prince al-Waleed bin Talal, who visited the city for a few hours.
At a joint press conference, Abbas thanked the Saudi prince, who has been called one of the richest men in the Arab world, for his generous contributions to the Palestinian people.
For his part, Talal said that he will continue to assist the Palestinian government, adding that Abbas' "wise policies" will definitely lead to the creation of an independent Palestinian state in the West Bank and the Gaza Strip.
Talal arrived in Ramallah on board a Jordanian helicopter. Later he laid a wreath at the grave of late Palestinian leader Yasser Arafat.