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Browsing: Kingdom Saudi Arabia
- The Saudi Arabia-Africa Summit has reaffirmed bilateral relations between the two regions.
- Saudi Arabia announced a 600 billion euro wealth fund to support Africa’s development.
- Through the Green Middle East Initiative, Saudi Arabia is assisting several African countries in planting over 50 billion trees to reduce more than 10% of global carbon emissions.
Saudi Arabia has pledged to increase its investment in Africa through its 600 billion euro wealth fund and its Public Investment Fund. The Kingdom’s Investment Minister, Khalid Al-Falih, made the pledge at the opening of the Saudi Arabia African Economic Conference in Riyadh on November 10.
Khalid Al-Falih stated that Saudi Arabia has resolved to make some “game-changing” investments in Africa. To kick off the investment pledge, Saudi Arabia signed preliminary energy agreements with Nigeria, Senegal, Chad, and Ethiopia.
In the same vein, Saudi Arabia has also pledged to help reduce Africa’s debt burden, with Ghana set …