Fondo Saudí para el Desarrollo

In compliance with the agreements reached at the latest summit between Saudi Arabia and Africa, where the Saudi Kingdom pledged to finance development projects across the African continent, President Obiang Nguema Mbasogo held a meeting in Mongomo with representatives of the Saudi Fund for Development.

The delegation from the Saudi Fund for Development (SFD), led by the Executive Director of the Fund, Sultan Almarshad, and accompanied by the Director of Operations for Africa, Mohamed Alshamari, was received by the President of Equatorial Guinea on Tuesday, February 6th. During this meeting, both parties discussed the consolidation of bilateral relations, particularly in the economic sphere.

The meeting in Mongomo is a direct consequence of the commitments made at the Saudi Arabia-Africa summit, where Saudi Arabia’s commitment to financing development programs in Africa was emphasized. The presence of the delegation in Equatorial Guinea demonstrates Saudi Arabia’s interest in supporting the country’s Horizon 2035 development program.

The Saudi Fund for Development is an institution primarily dedicated to financing projects that contribute to the growth of developing countries. Given Saudi Arabia’s prominent economic position in the region, collaboration with Equatorial Guinea could yield positive economic outcomes in various sectors.

Accompanying President Obiang Nguema Mbasogo in this meeting were the Minister of Foreign Affairs, International Cooperation, and Diaspora, Simeón Oyono Esono Angué, the Minister of Public Works, Housing, and Urbanism, Clemente Ferreiro Villarino, and the Chairman of the Geproyectos Steering Committee, Alejandro Michá Nsue.

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