Riyadh — The Kingdom of Saudi Arabia (KSA) government on Friday announced the King Salman Development Initiative for Africa made up of development programs and project worth over $1 billion for countries in Africa over ten years.
"We also look forward to making new Saudi investments, worth more than $25 billion, in various sectors, financing $10 billion in exports and providing $5 billion in additional development financing to Africa until 2030," the Crown Prince and Prime Minister of KSA, Mohammed Ibn Salman ibn Abdulaziz made the disclosure here on Friday.
He was opening the first Saudi-Africa Summit here in Riyadh, Saudi Arabia on behalf of the King and Custodian of the two Holy Mosques, King Salman bin Abdulaziz Al Saud inaugural Saudi-Africa summit aims to further develop relations and cooperation between KSA and Africa, and to promote strategic partnership.
Leaders from about 50 countries including Africa attended the day's event.
The Crown Prince added that the Kingdom had provided more than $45 billion to support development and humanitarian projects in 54 African countries.
Crown Prince Ibn Salman said the King Salman Humanitarian Aid and Relief Center (KSrelief) had reached more than $450 million in 46 African countries.
"We in the Kingdom of Saudi Arabia, are determined to develop cooperation and partnership with African countries and expand areas of trade and integration," he added.
He said the Kingdom of Saudi Arabia and African countries were keen to enhance cooperation in a way that contributes to establishing security and peace in the region and the whole world.
The crown prince said the Kingdom would increase the number of embassies in Africa to more than 40.
In recognition of Africa's role, the Kingdom of Saudi Arabia was among the first nations to publicly endorse the African Union's bid for permanent membership in the Group of Twenty (G20).
"The Kingdom is keen to support innovative solutions to address African debt, as it sought during its presidency of the G20 in 2020 to launch initiatives to suspend debt service payments during the pandemic for low-income countries, and the Common Framework for Debt Treatments initiative in many African countries."
"We reaffirm our commitment to ensuring the security and durability of energy supplies, benefiting from all energy sources, developing clean fuel solutions, and providing food to over 750 million Africans."
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"We aim to host Expo 2030 in Riyadh, to present an unprecedented version in the history of this exhibition that may contribute to projecting a better future for humanity."
We look forward to your participation in highlighting the important role of Africa, its human and natural resources, growth opportunities, and future potential.
We are confident that this summit will achieve, by the grace of Allah, our aspirations for further cooperation and partnership between Saudi Arabia and African countries."
Turning on the development in Gaza, the crown expressed concern on "the continued violation of international humanitarian law by the Israeli occupying authority. We stress the need to stop this war and forced displacement, as well as to create conditions for the return of stability and for achieving peace."
For his part, the Chairman of the African Union Commission, Moussa Faki Mahamat, spoke on the spiritual, historical, and commercial ties between the KSA and Africa, which he said had translated into bilateral relations between the Kingdom and large numbers of African countries.
