Saudi Crown Prince Mohammed bin Salman has announced the launch of King Salman’s Development Initiative in Africa, pledging over $1 billion for projects and programmes spanning 10 years.
The Crown Prince envisions injecting Saudi investments exceeding $25 billion across various sectors, providing $10 billion for financing and insurance and an additional $5 billion in developmental financing for Africa until 2030.
Plans include expanding diplomatic presence with over 40 embassies. Prince Mohammed reaffirms the Kingdom’s commitment to supporting innovative solutions for African debt and endorses the African Union’s full membership in the G20. He expresses hope for peace through ongoing talks in Sudan.