KSA Launches $1 bln Initiative for Developing Africa

Crown Prince and Prime Minister Mohammed bin Salman announced the King Salman Development Initiative in Africa. It involves launching development projects and programs across the continent, exceeding $1 billion over ten years.
Ambitious Investment Goals
Speaking at the Saudi-African Summit, he outlined Saudi Arabia’s aspiration. This includes over $35 billion in new investments in various sectors, financing and securing $10 billion in exports, and providing an additional $5 billion in developmental funding to Africa by 2030.
High-Profile Arrivals
Leaders and heads of African states gathered at the Saudi-African Summit venue. This event lays the foundation for strategic cooperation in various fields.
Notable attendees include the Prime Minister of Niger, the President of Gambia, Malawi, Niger, Eritrea, and the transitional leader of Gabon, among others. They arrived at King Khalid International Airport for the summit.
Saudi-Arab-African Economic Conference
The conference, featuring leaders, decision-makers, and officials from the Kingdom, Arab countries and Africa, commenced yesterday. It included government and private sector leaders, trade unions, international organizations, and academic and intellectual personalities.
Key Discussion Topics
The conference covered several topics. These include enhancing industrial, mining, and trade partnerships, the role of sustainable energy partnerships, improving access to energy, boosting food security, investing in business development, infrastructure, human capital, and fostering cooperation for sustainable development.
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