Saudi Arabia to Sign Agreements Worth Over $500 Million with African Countries

Saudi Finance Minister Mohammed Al-Jadaan stated on Thursday that the Saudi Fund for Development will sign agreements worth 2 billion riyals (533 million dollars) with African countries. Al-Jadaan mentioned at the Saudi-Arab Economic and African Conference in Riyadh that the Kingdom is working with partners to support Ghana and other countries regarding their debts. Saudi Investment Minister Khalid Al-Falih later stated at the same conference that the Public Investment Fund, Saudi Arabia's sovereign wealth fund valued at over 700 billion dollars, will make investments that will be game-changing in Africa. Saudi Energy Minister Prince Abdulaziz bin Salman, who also participated in the conference, signed preliminary agreements with African countries including Nigeria, Senegal, Chad, and Ethiopia regarding cooperation in the energy sector.