By Charles Muchoki | Africa Guardian
Dr. Akinwumi Adesina, President of the African Development Bank Group (AfDB), has lauded Saudi Arabia for its remarkable “support, dedication, and friendliness” towards Africa. His remarks came during the Saudi Fund for Development’s 50th anniversary celebration in Riyadh.
Celebrating 50 Years of Impact
In his address, Adesina highlighted the profound impact of the Saudi Fund for Development, which has supported over 407 projects across 41 sub-Saharan African countries with more than $5.3 billion in funding. He emphasized the Fund’s comprehensive contributions, which span a wide range of sectors, including irrigation, energy, healthcare, education, infrastructure, and transportation.
Adesina remarked, “The Saudi Fund has translated the Kingdom’s commitment into tangible development support across Africa. Its projects encompass everything from irrigation systems to produce food, dams for energy, hospitals for mothers and their babies, electricity for schools, and vital infrastructure such as airports and roads.”
Deepening Saudi-Africa Relations
The AfDB President noted that the Saudi Fund for Development is instrumental in deepening Saudi Arabia’s engagement with Africa. This commitment was particularly evident during the Saudi-Africa Summit held in November 2023, hosted by Crown Prince Mohammed bin Salman and attended by over 40 heads of state and government. The summit outlined a strategic framework for enhancing Saudi-Africa cooperation.
Adesina praised the Saudi Fund’s “unlimited territorial scope” and its focus on addressing the needs of countries, distinguishing it from other development partners. He described the Fund’s approach as characterized by “Open heart. Open hands. Open purse,” and highlighted its core values of being “Supportive. Dedicated. Friendly.”
A Strong Partnership
Reflecting on his experiences, Adesina noted his frequent visits to Saudi Arabia, the most by any AfDB president since its establishment in 1964. He emphasized the strategic partnerships formed with major Saudi institutions, which have facilitated substantial co-financing for African projects.
“The African Development Bank values its partnership with the Saudi Fund for Development,” Adesina stated. “We look forward to another 50 years of exciting collaboration, supporting Africa with renewed dedication and accelerating its development.”
In conclusion, Adesina expressed his best wishes for the Saudi Fund for Development, commending its role in advancing Africa’s progress and reinforcing the strong ties between the Kingdom and the continent.
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