Macron Meets with Saudi Businessmen to Promote Bilateral Investments

Macron met on Saturday with a group of Saudi businessmen (X)
Macron met on Saturday with a group of Saudi businessmen (X)
TT

Macron Meets with Saudi Businessmen to Promote Bilateral Investments

Macron met on Saturday with a group of Saudi businessmen (X)
Macron met on Saturday with a group of Saudi businessmen (X)

French President Emmanuel Macron held an extensive discussion session with a group of prominent Saudi business leaders, in the presence of Saudi Minister of Investment Eng. Khalid Al-Falih with the aim to foster and expand mutual investments between the two countries.

In remarks on X, Al-Falih said Saturday that during his visit to France, he participated in a workshop for the Global Green Neighborliness Initiative and held meetings with CEOs of major French companies to stimulate and enhance joint investments.

Additionally, Al-Falih met with France’s Minister for Europe and Foreign Affairs, Jean-Noël Barrot, who hosted a reception for Saudi and French companies.

In a separate meeting of the Saudi-French Ministerial Committee for the Development of AlUla, Al-Falih, along with Saudi Foreign Minister Prince Faisal bin Farhan Al Saud and Saudi Minister of Culture Prince Badr bin Abdullah bin Farhan, reviewed the progress and achievements of the Royal Commission for AlUla.

The commission aims to position this unique site as a global destination for investments in tourism and cultural heritage.



Biden Pledges Record $4 bln US Contribution to World Bank Fund for Poorest Countries

The World Bank logo. (File/Asharq Al-Awsat Ar)
The World Bank logo. (File/Asharq Al-Awsat Ar)
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Biden Pledges Record $4 bln US Contribution to World Bank Fund for Poorest Countries

The World Bank logo. (File/Asharq Al-Awsat Ar)
The World Bank logo. (File/Asharq Al-Awsat Ar)

US President Joe Biden has pledged a $4 billion US contribution to the World Bank's International Development Association (IDA) fund for the world's poorest countries, two sources with knowledge of the commitment said on Monday, Reuters reported.

Biden announced the US pledge during a closed session during the Group of 20 summit in Rio de Janeiro, according to the sources, who spoke on condition of anonymity.

The amount is a record and substantially exceeds the $3.5 billion that Washington committed in the previous IDA replenishment round in December 2021.