A Saudi money changer displays Saudi Riyal banknotes at a currency exchange shop in Riyadh, Saudi Arabia July 27, 2017. REUTERS/Faisal Al Nasser

DUBAI (Reuters) - Saudi Arabia plans to waive more than $6 billion of debt owed to the kingdom by poorer countries, a cabinet statement said on Tuesday.

It did not name the countries, but said it was part of a larger U.N. development initiative.