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Saudis Offer $1 Billion Loans, Investments to Africa
Mohammed bin Salman (Wikimedia Commons)

Saudis Offer $1 Billion Loans, Investments to Africa

Saudi Arabian Crown Prince Mohammad Bin Salman said that his country will provide investments and loans totaling $1 billion to help African countries recover from the coronavirus pandemic. The kingdom has offered loans and grants to more than 45 African countries, he said.

The projects will be supported by the Saudi Fund for Development. The prince made the announcement during a debt relief conference in Paris on Tuesday.

He also said that Saudi Arabia’s sovereign wealth fund, the Public Investment Fund, has invested around $4 billion in the energy, mining, telecoms, food and other sectors in Africa, and will continue to do so.

Give the Gift of Truth This Jewish New Year

The Media Line has been leading for more than twenty years in pioneering the American independent news agency in the Middle East, arguably the first in the region. We have always stayed true to our mission: to provide you with contextual sourced and trustworthy news. In an age of fake news masquerading as journalism, The Media Line plays a crucial role in providing fact-based news that deserves your support.

We're proud of the dozens of young students we've trained in our Press and Policy Student Program who will form the vanguard of the next generation of journalists to the benefit of countless millions of news readers.

Non-profit news needs public support. please help us with your generous contributions.
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