Saudi FII Signs 16 Global Partnerships

A previous edition of the “Future Investment Initiative” forum (Asharq Al-Awsat)
A previous edition of the “Future Investment Initiative” forum (Asharq Al-Awsat)
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Saudi FII Signs 16 Global Partnerships

A previous edition of the “Future Investment Initiative” forum (Asharq Al-Awsat)
A previous edition of the “Future Investment Initiative” forum (Asharq Al-Awsat)

The Future Investment Initiative (FII) announced signing 16 partnerships with international corporate companies to make an impact in five key areas: artificial intelligence, robotics, education, healthcare, and sustainability.

The partnership contracts come at a time when the Saudi capital, Riyadh, is preparing to hold the fifth session of the FII from October 26 to 28under the slogan “Investing in Humanity.”

Discussions will revolve around investments that would achieve the most significant benefit to humanity, especially as multiple sectors experience an economic renaissance in the post-pandemic era.

According to information released on Thursday, the platform will bring together state leaders, company leaders, policymakers, investors, and innovators from all over the world.

The global forum will explore pioneering solutions that address challenges facing society and work to achieve those solutions.

Over three days, the FII forum will feature interactive summits on investment in education, metaverses, and ESG standards.

FII Institute CEO Richard Attias said: “Each partner brings unique and pioneering technology that supports the FII Institute mission to make a positive impact on humanity. The investments, inventions, research, and products from these top global companies all aim to create a better world for all.”

“As multiple sectors witness a renaissance in a post-COVID era, the 5th Anniversary of FII will bring together world leaders, experts, innovators, and media in a global forum to explore solutions to society’s most pressing challenges and propel action towards their realization,” he added.

The FII is working to present facts and figures as part of launching several indicators to help government policymakers and the private sector to support investment in the future of humanity.



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.