Saudi Arabia will invest 25 billion dollars in African countries, the joint statement continues

by: TN Media News Riyadh:
At the end of the Saudi-African Summit, a joint declaration was issued under the title of “Riyadh Declaration”.
The conference was held in the Saudi capital on the invitation of Custodian of the Two Holy Mosques King Salman bin Abdulaziz.

According to the Saudi news agency SPA, the African leaders expressed their determination to increase cooperation with Saudi Arabia on the basis of strategic partnership, common interests and geographical, historical and cultural ties.

The leaders of African countries expressed deep concern over the humanitarian tragedy in Gaza. He stressed the need for ceasefire and protection of civilians as per international law. He urged the international community to put pressure to stop the forced eviction of Palestinians from Gaza and the Israeli attacks and to give humanitarian organizations the opportunity to deliver basic humanitarian supplies to the citizens of Gaza.

African leaders said that over the past 50 years, Saudi Arabia has spent more than $45 billion on the development of the most important sectors of African countries, benefiting 46 African countries.

The leaders participating in the summit expressed their determination to increase economic relations in the field of industry and mining, to increase non-oil exports.

African leaders welcomed participation in the International Mining Conference held annually under the auspices of the Custodian of the Two Holy Mosques.

During the conference, more than fifty agreements and memorandums of understanding were signed in various economic sectors such as tourism, investment, financial affairs, energy, renewable energy, mining, transport, logistics services, agriculture, water, communication and information technology.

On this occasion, it was reported that Saudi Arabia will invest up to 95 billion riyals in the continent of Africa. The Saudi Development Fund will provide funds of 18.75 billion riyals to development projects in African countries by 2030.

In addition, Saudi Arabia will fund 37.5 billion riyals for African exports until 2030. African countries appreciated the key role played by Saudi Arabia and OPEC Plus in the stabilization of global petroleum markets.

The leaders of African countries reiterated their strong support for Saudi Arabia’s request to host Expo 2030 in Riyadh. He also supported holding the Football World Cup 2034 in Saudi Arabia.

The African leaders described the promotion of human tolerance and peaceful coexistence with Saudi Arabia as extremely important in all cultural fields.

African leaders recognized the importance of increasing food and drug surveillance in African countries. African leaders thanked Custodian of the Two Holy Mosques King Salman and Crown Prince Mohammed bin Salman for organizing the historic conference.


TN Media News