Deputy PM Confers with Chairman of Saudi Fund for Development

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Deputy Prime Minister Demeke Mekonnen, who was in Saudi Arabia to attend an investment forum, discussed with the Chairman of Saudi Fund for Development (SFD) Ahmed Bin Aqeel Al-Khateeb.

The discussion held in the presence of Ethiopia’s Foreign Affairs State Minister and Ambassador to Saudi was aimed at consolidating economic cooperation.

During the discussion Demeke explained to the Saudi delegation about the ongoing sweeping reforms and the overall development of the country.

He also briefed about the efforts being exerted to bring about the desired change to the country through the reform.

Demeke said that the government is working to accelerate development through various initiatives. Activities aimed at creating jobs in mass and encourage innovation is among them.

SFD Chairman Ahmed Bin Aqeel Al-Khateeb said Saudi Arabia is committed to support Ethiopia’s development endeavors and is ready to collaborate with Ethiopia in Foreign Direct Investment.

Noting that the SFD has been supporting and financing construction and expansion of infrastructure in Ethiopia, the Chairman said it will continue to do so.

The Chairman, who pledges to continue supporting development endeavors in Ethiopia, requested the government to submit list of projects that need financial assistance from SFD.

In addition to financing development projects, the Chairman has affirmed the Fund’s readiness to provide assistance in the form of loans.

He affirmed that the Saudi Fund for Development will support Ethiopia in its efforts to sustain comprehensive and inclusive changes and its role in the horn of Africa.

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