Climate change solutions should not come at the expense of “less empowered people”, Saudi Arabia’s Energy Minister on Thursday, as the kingdom announced potential agreements with African countries.
“Climate change is crucial, important, but it should not be attended to by crushing the bones and the future of the less empowered people,” Prince Abdulaziz bin Salman said during the Saudi-Arab-African Economic Conference in Riyadh on Thursday.
“Africa has been and will continue to be part of our social capital,” Prince Abdulaziz said.
The Saudi Fund for Development will sign agreements worth 2 billion Saudi riyals ($533 million) with African countries, Finance Minister Mohammed Al Jadaan said at the same event.
The fund, which helps finance projects in developing countries, is working with partners to support Ghana and other African countries to reduce debt, he said.
The minister said the agreements would be struck with many countries and entities on the continent.
“Our partnership with African countries is strong and ever growing. In energy, education and agriculture amongst many others, the kingdom considers Africa a strong investment destination and partner,” he added.
Several Saudi officials were at the economic forum after the cancelation of the political summit due to the war in Gaza.
The conference is aimed at strengthening partnerships between Saudi Arabia and the Arab world with African countries in several economic and investment sectors, including agriculture, industry, mining, and commercial partnerships.
Saudi Arabia’s Public Investment Fund will make some “game changing” investments in Africa, Saudi Investment Minister Khalid Al Falih said.
“We want investments that go into Africa to also be sustainable in the long term and catalyse more and more investment.
“We want our sustainable investments to … grow additional investments and for that to happen, we need to de-risk the investments.”
In September, the UAE pledged $4.5 billion to help speed up the development of clean energy projects in Africa.
Abu Dhabi’s clean-energy company Masdar, the Abu Dhabi Fund for Development, Etihad Credit Insurance, and Dubai-based renewable energy company Amea Power are expected to provide the funds.
Developing countries require about $1.7 trillion per year in the clean energy sector but managed to attract foreign direct investment worth only $544 billion in 2022, Unctad, the UN intergovernmental organisation that promotes the interests of developing countries in world trade, said in a report in July.
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3. Romain Bardet (FRA/ALM) 0:23.
4. Rigoberto Uran (COL/CAN) 0:29.
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Teams
Punjabi Legends Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan
Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
Timeline October 25: Around 120 players to be entered into a draft, to be held in Dubai; December 21: Matches start; December 24: Finals
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Sri Lanka-India Test series schedule
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- 2nd Test India won by innings and 53 runs at Colombo
- 3rd Test August 12-16 at Pallekele
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