Saudi Arabia to invest $1b in Africa's COVID-19 recovery

London: Saudi Crown Prince Mohammed bin Salman said on Tuesday that the kingdom will continue to support African countries to help their recovery following the COVID-19 blow to their economies, with investments and loans worth around $1 billion this year.

“Saudi Development Fund will carry out future projects, loans and grants worth three billion riyals, or around $1 billion, in developing countries in Africa this year,” Prince Mohammed said in a televised speech to a debt relief conference in Paris.