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.
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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.