By Politico staff writer
At the Saudi-Africa Summit in Riyadh, President Julius Maada Bio has called for more political cooperation to stimulate economic development and investment.
He said the summit held on Friday 19th November will enhance ties between the Kingdom of Saudi Arabia, Sierra Leone, and the African continent as a whole.
He said the event was very timely, and assured leaders that his government will explore avenues for strategic cooperation that align with the Kingdom's Vision 2030, African Union's Agenda 2063, and his Big Five National Development priority areas of his administration.
Earlier at the event, Crown Prince and Prime Minister of the Kingdom of Saudi Arabia, His Royal Highness, Prince Mohamed Bin Salman bin Abdulaziz Al Saud announced the launch of the Custodian of the Two Holy Mosques' Development Initiative in Africa, by inaugurating development projects and programmes worth over $1 billion in countries of the continent for over a 10 year period.
He said in addition, the Kingdom was also planning to inject new investments in Africa worth over $25 billion in various sectors, secure $10 billion from exports, and provide a development finance of more than $5 billion in different sectors until 2030. He said the Kingdom would support the African Union to get a permanent membership in the G20 and there’s readiness on the part of the Kingdom to increase its Embassy in Africa to over 40.
The Crown Prince said Saudi Arabia and African countries are keen on strengthening cooperation to entrench security and peace in the Arab-African regions and the rest of the world.
He spoke about the Kingdom’s provision of more than $45 billion to support development and humanitarian projects in 54 African countries, adding that the King Salman Humanitarian Aid and Relief Centre has also provided support to 46 African countries.
He assured African Heads of State at the summit that his country would continue with its support and partnership with the African continent.
The Summit also discussed the crisis between Israel and Palestine, as well as the conflict in Sudan.
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