Saudi Arabia Strengthens Ties with Africa at AfDB Annual Meeting

KSA, 4 June, 2024 :  Saudi Arabia's AfDB Governor, Dr. Ryadh Alkhareif, led the Kingdom's delegation at the 59th Annual Meeting of the AfDB Board of Governors in Nairobi, Kenya. The event was opened by President William Ruto of Kenya and attended by African leaders, finance ministers, and central bank governors.

Discussions focused on diversifying Africa's economy, enhancing the global financial system, and tackling climate change and food insecurity. Dr. Alkhareif emphasized Saudi Arabia's support for African nations through various initiatives, including investments in human capital, youth empowerment, and environmental conservation.

Saudi Arabia pledged $5 billion for development projects in Africa by 2030 during the recent Saudi-African Summit. The meetings provided a platform for sharing knowledge on private financing and sustainable development in Africa, fostering collaboration among AfDB Governors and stakeholders.

Source : www.mof.gov.sa