Saudi Crown Prince Mohammed bin Salman made a historic announcement at the Saudi-African Summit in Riyadh, revealing the ambitious King Salman's Development Initiative in Africa. This groundbreaking initiative involves projects and programs exceeding $1 billion, spanning over a decade.

During the summit, Crown Prince Mohammed bin Salman reiterated Saudi Arabia's commitment to fostering collaboration and strengthening ties with African nations across diverse sectors. This commitment is rooted in the Kingdom's vision of contributing to regional and global security and peace.

1. Financial Injection: Crown Prince Mohammed envisions injecting Saudi investments surpassing $25 billion across various sectors, with a commitment of $10 billion in financing and insurance for exports and an additional $5 billion in developmental financing for Africa until 2030.

2. Diplomatic Expansion: Saudi Arabia plans to broaden its diplomatic presence in Africa, increasing the number of embassies to over 40, showcasing a dedication to nurturing diplomatic relationships.

3. Developmental and Humanitarian Support: The Kingdom has already contributed over $45 billion to support developmental and humanitarian projects in 54 African countries, emphasizing its ongoing commitment to fostering progress.

4. Debt Solutions: Prince Mohammed highlighted the Kingdom's dedication to supporting innovative solutions to address African debt issues, affirming the right of nations to develop their resources and capabilities.

5. Global Forums: Expressing support for the African Union's full membership in the G20, the Crown Prince emphasized the importance of international cooperation and dialogue.

6. Peaceful Resolutions: Prince Mohammed condemned military attacks in the Gaza Strip and urged an immediate halt to violations against international humanitarian law by Israeli authorities.

7. Future Vision: Looking ahead, the Crown Prince announced Saudi Arabia's bid to host Expo 2030 in Riyadh, aiming to present an unprecedented and exceptional edition that contributes to envisioning the future.

Saudi Arabia's $1-billion Development Initiative in Africa reflects the Kingdom's commitment to fostering economic growth, diplomatic relations, and peace across the continent. Crown Prince Mohammed bin Salman's visionary approach outlines a comprehensive strategy for collaboration and development.