The African Development Bank Group and the Kingdom of Saudi Arabia have agreed to deepen their partnership to accelerate investments across Africa’s key growth sectors, following high-level discussions in Washington. Bank Group President Dr. Sidi Ould Tah met with Saudi Export-Import Bank (Saudi EXIM) Chief Executive Saad Alkhalb and Saudi Fund for Development (SFD) Chief Executive Sultan Abdulrahman Al-Marshad during the 2025 World Bank and International Monetary Fund Annual Meetings to explore avenues for collaboration.
The discussions focused on expanding co-investment in renewable energy, trade infrastructure, and social development initiatives, including affordable housing. Both sides described the meetings as a new chapter in Saudi-African Development Bank relations, aimed at promoting sustainable growth and job creation across the continent. President Ould Tah highlighted the strong alignment between Saudi Arabia’s Vision 2030 and the African Development Bank’s Four Cardinal Points strategic priorities, particularly in green industrialization, trade facilitation, youth employment, and regional integration.
Flagship initiatives such as Desert to Power, the Special Agro-Industrial Processing Zones program, and the Alliance for Green Infrastructure in Africa were presented as key opportunities for future Saudi partnership and investment. In discussions with Saudi EXIM, both parties reaffirmed their commitment to expand collaboration in trade finance, credit guarantees, and support for Saudi exports into African infrastructure and industrial projects, while also enhancing market intelligence, capacity building, and joint co-financing mechanisms.
During talks with the Saudi Fund for Development, President Ould Tah emphasized the Bank’s readiness to co-finance public sector investments in agriculture, energy, transport, and climate resilience. The institutions agreed to intensify structured collaboration to achieve greater development impact and maximize the benefits of Saudi Arabia’s $41 billion pledge to Africa, which includes $10 billion in export finance through Saudi EXIM and $5 billion in development finance via SFD.
The African Development Bank is coordinating with both Saudi institutions to channel these resources into transformative projects that support Africa’s economic transformation. Dr. Ould Tah’s participation in the 2025 World Bank Annual Meetings, themed “Jobs – The Path to Prosperity,” underscores the Bank’s commitment to strengthening partnerships that unlock large-scale opportunities for youth and drive sustainable economic growth across Africa.
Related Posts
