AfDB President Hails Saudi Fund for Development's Impact on Africa at 50th Anniversary Celebration

Adesina described the SDF as a vital player in strengthening Saudi-Africa relations, reflecting the Kingdom’s commitment to development on the continent.

Dr. Akinwumi Adesina, President of the African Development Bank Group, commended Saudi Arabia for its significant contributions to Africa at the Saudi Fund for Development’s (SDF) 50th anniversary celebration held in Riyadh on Sunday.

In his address, Adesina praised the SDF for its extensive support across Africa, highlighting its impact on various aspects of daily life through its financing of 407 projects in 41 sub-Saharan African countries, totaling over $5.3 billion.

The projects funded by Saudi Arabia range from irrigation systems to improve food production, energy-producing dams, hospitals, educational infrastructure, and essential transport networks such as airports and roads.

Adesina described the SDF as a vital player in strengthening Saudi-Africa relations, reflecting the Kingdom’s commitment to development on the continent. He pointed to the Saudi-Africa Summit, hosted by Crown Prince Mohammed bin Salman in November 2023, as a testament to this deepening partnership, which was attended by over 40 African heads of state and government.

“What distinguishes the Saudi Fund for Development is its ‘unlimited territorial scope,’” Adesina noted. “It prioritizes countries’ needs, showing an open heart, open hands, and an open purse. This approach sets it apart from other development partners.”

He also highlighted his frequent visits to Saudi Arabia and the strategic alliances forged with major Saudi institutions, which have led to significant co-financing for African projects.

“The African Development Bank is a friend and strategic partner to the Saudi Fund for Development. We look forward to continuing our collaboration to accelerate Africa’s development,” Adesina concluded, extending his best wishes for the SDF’s future endeavors.