Saudi Arabia to sign $533m deals with African countries and entities: finance minister｜Arab News Japan

By Carolyne Adalla On Nov 9, 2023

Manal Al-Barakati

Saudi Arabia is set to sign SR2 billion ($533 million) worth of agreements with African countries, the Kingdom’s finance minister has announced.

Speaking during the Saudi-Arab-African Economic Conference in Riyadh, Mohammed Al-Jadaan said the deals would be reached through the Kingdom’s Fund for Development.

The minister said the agreements would be struck with a “multitude” of countries and entities on the continent.

“Our partnership with African countries is strong and ever growing. In energy, education and agriculture amongst many others, the Kingdom considers Africa a strong investment destination and partner,” he added.

Al-Jadaan also called for the creation of an additional seat for Africa on the Executive Board of the International Monetary Fund to strengthen the voice of the continent in global forums.

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