https://arab.news/693up
- The summit is being held to bolster strategic and economic ties between Saudi Arabia and African countries
- The crown prince says the kingdom looks forward to launching new investments of over $25 billion in the region
RIYADH: Saudi Crown Prince Mohammed bin Salman on Friday reiterated the Kingdom’s condemnation of Israeli violations in the Gaza Strip and the forced displacement of Palestinians in the enclave.
“We condemn the Israeli occupation authorities’ violation of international law in Gaza,” the crown prince said during his opening speech at the Saudi-African Summit in Riyadh.
The summit is being held to bolster strategic and economic ties between Saudi Arabia and African countries.
He added in his speech that Saudi Arabia had provided more than $45 billion for humanitarian projects and development in 54 African countries.
The King Salman Humanitarian Aid and Relief Center has also provided a further $450 million in aid to 46 African countries, the crown prince said.
He announced the launch of a new $1 billion initiative to bring water to African countries over a period of 10 years.
“We are keen to develop cooperation and partnership and trade ties, and glad to announce the launch of the King Salman Development Initiative in Africa,” the crown prince said.
“We also look forward to launching new Saudi investments worth over $25 billion in various fields.”
The crown prince said that the Kingdom would finance $10 billion in exports and provide $5 billion in additional development financing to the African continent until 2030.
“The Kingdom is keen to support innovative solutions to address African debt, as it sought during its presidency of the G20 in 2020 to launch initiatives to suspend debt service payments during the pandemic for low-income countries, and the Common Framework for Debt Treatments initiative in many African countries,” he added.
“The Kingdom of Saudi Arabia supports sustainable development and recognizes every country’s right to utilize their resources and capacities. We reaffirm our commitment to ensuring the security and durability of energy supplies, benefiting from all energy sources, developing clean fuel solutions and providing food to over 750 million Africans.
“We aim to host Expo 2030 in Riyadh, to present an unprecedented version in the history of this exhibition that may contribute to projecting a better future for humanity.
“We look forward to your participation in highlighting the important role of Africa, its human and natural resources, growth opportunities and future potential.”