THE Saudi Fund for Development will sign agreements worth 2 billion riyals ($533 million) with African countries, Saudi Finance Minister Mohammed Al-Jadaan said during the Saudi-Arab-African Economic Conference in Riyadh.
“We are working with partners to support Ghana and other countries regarding their debt,” Jadaan added.
Saudi Investment Minister Khalid Al-Falih later said at the same conference the kingdom’s more than $700 billion wealth fund, the Public Investment Fund, will make some “game-changing” investments in Africa.
Saudi Energy Minister Prince Abdulaziz bin Salman, also at the conference, signed preliminary agreements with African countries including Nigeria, Senegal, Chad and Ethiopia on energy-related cooperation.
Mozambique’s finance ministry issued a statement later in the day saying it had signed a financing agreement of $158 million with the Saudi Development Fund for infrastructure projects including the construction of hospitals and a dam.
