https://en.sputniknews.africa/20240903/african-development-bank-president-commends-saudi-arabia-for-billion-dollar-investments-in-africa-1068122280.html
African Development Bank President Commends Saudi Arabia for Billion Dollar Investments in Africa
African Development Bank President Commends Saudi Arabia for Billion Dollar Investments in Africa
Sputnik Africa
The African Development Bank Group is a multilateral development finance institution dedicated to fostering economic growth and development in Africa. It... 03.09.2024, Sputnik Africa
2024-09-03T14:17+0200
2024-09-03T14:17+0200
2024-09-03T16:54+0200
sub-saharan africa
saudi arabia
international
african development bank (afdb)
riyadh
finance
investment
funding
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Speaking at the Saudi Fund for Development's 50th anniversary celebration in Riyadh, Akinwumi Adesina, President of the African Development Bank Group, highlighted the fund's impact across 407 projects in 41 sub-Saharan African countries, totaling over $5.3 billion in investment. These projects encompass a wide range of sectors, from irrigation and energy infrastructure to healthcare facilities, education, and transportation.Adesina praised the fund's commitment to deepening Saudi-African ties, exemplified by the successful Saudi-Africa Summit held in November 2023, which outlined a roadmap for future cooperation.He also commended the fund's unique approach to development financing, emphasizing its "unlimited territorial scope" and focus on meeting the specific needs of countries. This, coupled with its supportive, dedicated, and friendly approach, has fostered positive relations with African nations.Adesina expressed confidence in the continued success of the strong partnership between the African Development Bank and Saudi Arabia, emphasizing the fruitful collaboration that has resulted in significant co-financing for projects in Africa. He believes this partnership will continue to thrive, accelerating Africa's development.
https://en.sputniknews.africa/20240602/afdb-africa-remains-worlds-second-largest-growing-region-in-2024-2025-with-eastern-part-leading-1066844013.html
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saudi arabia, international, african development bank (afdb), riyadh, finance, investment, funding
saudi arabia, international, african development bank (afdb), riyadh, finance, investment, funding
African Development Bank President Commends Saudi Arabia for Billion Dollar Investments in Africa
14:17 03.09.2024 (Updated: 16:54 03.09.2024) Ekaterina Shilova
Writer / Editor
The African Development Bank Group is a multilateral development finance institution dedicated to fostering economic growth and development in Africa. It provides financial support to both African governments and private companies, investing in various projects within its regional member countries.
Speaking at the Saudi Fund for Development's 50th anniversary celebration in Riyadh, Akinwumi Adesina, President of the African Development Bank Group, highlighted the fund's impact across 407 projects in 41 sub-Saharan African countries, totaling over $5.3 billion in investment. These projects encompass a wide range of sectors, from irrigation and energy
infrastructure to healthcare facilities, education, and transportation.
Adesina praised the fund's commitment to deepening Saudi-African ties, exemplified by the successful Saudi-Africa Summit held in November 2023, which outlined a roadmap for future cooperation.
He also commended the fund's unique approach to development financing, emphasizing its "unlimited territorial scope" and focus on meeting the specific needs of countries. This, coupled with its supportive, dedicated, and friendly approach, has fostered positive relations with
African nations.
Adesina expressed confidence in the continued success of the strong partnership between the African Development Bank and Saudi Arabia, emphasizing the fruitful collaboration that has resulted in significant co-financing for projects in Africa. He believes this partnership will continue to thrive, accelerating Africa's development.
