At the Saudi-Arab-African Economic Conference hosted in Riyadh, Saudi Finance Minister Mohammed Al-Jadaan disclosed that the Saudi Fund for Development is poised to enter into accords valued at 2 billion riyals, approximately $533 million, with African nations.
Jadaan reiterated the commitment to international collaboration, stating, “In our ongoing efforts, we are actively engaging with strategic partners to offer substantial support to Ghana and several other countries in addressing their debt-related challenges. Our dedication to facilitating sustainable economic solutions underscores our commitment to promoting financial stability and prosperity across regions.
Saudi Arabia’s Public Investment Fund to Invest $700 Billion in Africa
During the same conference, Saudi Investment Minister Khalid Al-Falih announced that the kingdom’s substantial Public Investment Fund, valued at over $700 billion, is poised to initiate transformative investments in Africa, set to have a profound impact on the region’s economic landscape.
Within the conference’s framework, Saudi Energy Minister Prince Abdulaziz bin Salman inked preliminary agreements with several African nations, encompassing Nigeria, Senegal, Chad, and Ethiopia, aimed at fostering collaborative efforts in the sphere of energy-related cooperation.