Saudi Grants, Loans to Over 1000 Projects in 85 Countries

Saudi Grants, Loans to Over 1000 Projects in 85 Countries
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Saudi Grants, Loans to Over 1000 Projects in 85 Countries

Saudi Grants, Loans to Over 1000 Projects in 85 Countries

The Saudi Fund for Development (SFD) revealed that the kingdom has provided official development assistance (ODA) for over 1000 projects in 85 countries through a combination of loans and grants within the Just Transition Framework.

As part of the SFD’s contribution to the Kingdom of Saudi Arabia’s Vision 2030 and the Kingdom’s G20 Presidency, SFD sponsored the International Institute of Finance G20 Conference and participated in a panel discussion at the IIF G20 Conference, held in Riyadh.

The Just Transition Framework discussed at the conference is closely aligned with SFD’s strategic ambition in financing international development projects, and in line with the Kingdom of Saudi Arabia’s G20 Presidency, and Vision 2030 objectives.

The Just Transition Framework is a natural progression for SFD and the projects it supports, as the framework seeks to ensure developing nations are included in the conversation surrounding the move towards impactful projects that support sustainable development.

SFD has supported renewable energy initiatives in the African continent, most recently the Samendini Dam in Burkina Faso. The Samendini Dam will enhance food security and agriculture production through the reclamation of land – estimated to benefit 250,000 farmers and local residents

In addition to supporting agriculture, the dam will also provide cleaner, more affordable power to the local community.

An excellent example of supporting the Just Transition Framework is how the dam addresses three key concerns: water stress, affordable and sustainable energy, and food security.

Since its establishment, SFD has provided official development assistance (ODA) for over 1000 projects in 85 countries through a combination of loans and grants.

In addition to larger infrastructure projects, SFD has developed standalone ODA programs, such as the ‘Saudi Program for Wells and Rural Development in Africa’. This program aims to mitigate the effects of drought in rural regions in a number of African countries.

Under the program, over 6,000 water facilities have been equipped, and 2.5 million people have benefited from access to cleaner, safer water.

Faisal al-Kahtani, Acting Director-General, Operations Department, discussed SFD’s role in financing the Just Transition. During the discussion, Kahtani reiterated the need to ensure developing nations were not left behind in the global transition to low-carbon economies.

Kahtani said: “Four sustainability-related issues fall under the broader Saudi G20 Agenda: carbon emissions, water stress, food safety, and affordable, sustainable energy. SFD has been supporting projects in these areas since 1975. SFD looks at a nation’s critical needs, whether those be in energy, water or other principal development areas and works to finance projects which address a particular need, in line with the UN Sustainable Development Goals.”



China Says Successful US Trade Talks Make Return to Tariff War Unnecessary

Wang Wentao, China's Minister of Commerce, speaks during a press conference in Beijing on July 18, 2025. (Photo by WANG Zhao / AFP)
Wang Wentao, China's Minister of Commerce, speaks during a press conference in Beijing on July 18, 2025. (Photo by WANG Zhao / AFP)
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China Says Successful US Trade Talks Make Return to Tariff War Unnecessary

Wang Wentao, China's Minister of Commerce, speaks during a press conference in Beijing on July 18, 2025. (Photo by WANG Zhao / AFP)
Wang Wentao, China's Minister of Commerce, speaks during a press conference in Beijing on July 18, 2025. (Photo by WANG Zhao / AFP)

China wants to bring its trade ties with the US back to a stable footing, its commerce minister said, adding that recent talks in Europe showed there was no need for a tariff war while urging the US to act in a manner befitting of a superpower.

According to Reuters, Commerce Minister Wang Wentao told reporters on Friday that the "ups and downs" in the two countries' relationship underscored their economic interdependence.

Asked about the United States specifically, Wang said: "Major countries should act like major countries. They must shoulder their responsibilities," adding that China would protect its national interests.

China is facing an August 12 deadline to reach a durable tariff agreement with the United States, after Beijing and Washington reached a preliminary deal last month to end weeks of escalating tit-for-tat tariffs.

If no deal is reached, global supply chains could face renewed turmoil from duties exceeding 100%.

Wang said negotiations in Geneva and London earlier this year demonstrated there was no need to return to a trade war.

"Practice has proven that through dialogue and consultation, with leadership and communication at the highest levels, we can properly manage contradictions and resolve our differences," he said.

"We will continue to strengthen dialogue and communication, deepen consensus, reduce misunderstandings, enhance cooperation, to jointly put China-US economic and trade relations back on track to achieve healthy, stable and sustainable development."

China's rare earths exports rose 32% month-on-month in June, customs data showed on Monday, in a sign that agreements struck last month in London to free up the flow of the metals were possibly bearing fruit.

Chipmaker Nvidia will also resume selling its H20 AI chips to China, Chief Executive Jensen Huang said at an event in Beijing this week, a move US Commerce Secretary Howard Lutnick said was also part of negotiations on rare earths.

Wang said on Friday that he had met Huang the previous day, describing the meeting as evidence that "as the dust settles, everyone has come to the conclusion - especially the US side - that forced decoupling is impossible."

Wang said the current overall tariff level imposed by the US on China was "still high" at 53.6%. Analysts have said that additional duties exceeding 35% will probably wipe out Chinese manufacturers' profit margins.

"Both sides have come to understand that they need each other, as lots of the goods and services that we exchange are irreplaceable, or at least difficult to exchange in the short-term," Wang said.

"China does not want a trade war, but it is not afraid of one," he reiterated.