Dr. Akinwumi Adesina, President of the African Development Bank Group, has commended Saudi Arabia for its generous support, dedication, and commitment to Africa. He highlighted the Kingdom’s significant contributions to various projects that impact nearly every aspect of daily life across the continent.
Speaking at the Saudi Fund for Development’s 50th anniversary celebration in Riyadh on Sunday, Adesina praised the fund for effectively translating Saudi Arabia’s vision into development support for Africa. He noted that the fund has facilitated 407 projects in 41 sub-Saharan African countries, with financial backing exceeding $5.3 billion.
These projects span a wide range of sectors, including irrigation for food production, dams for energy, hospitals for maternal and child health, electricity to power schools, and infrastructure like airports and roads that connect regions and communities.
Adesina also acknowledged the broader effort to deepen Saudi Arabia’s engagement with Africa, which was prominently reflected during the Saudi-Africa Summit in November 2023, attended by over 40 heads of state and government. This summit laid out a comprehensive blueprint for future Saudi-Africa cooperation.
He emphasized that the Saudi Fund for Development distinguishes itself in the development financing landscape through its “unlimited territorial scope,” prioritizing countries’ needs above all else, setting it apart from other development partners.
“That means: Open heart. Open hands. Open purse. Its success is rooted in its values, embodied by its acronym, SDF, which I interpret as: Supportive, Dedicated, Friendly. This is why countries hold the SDF in such high regard,” Adesina stated.
He also highlighted that he has visited Saudi Arabia more frequently than any other president in the history of the African Development Bank since its establishment in 1964, forming strategic alliances with major Saudi institutions that have delivered billions of dollars in co-financing for projects across Africa.
“The African Development Bank is your friend and strategic partner in Africa… I wish the Saudi Fund for Development another 50 exciting years ahead, as we continue our partnership to support Africa with renewed dedication to accelerating the continent’s development,” Adesina concluded.
