Saudi Arabia became a member of the Bank Group in 1961 and in 2010, it participated in the sixth general capital increase of the African Development Bank. Saudi Arabia has also participated in all African Development Fund replenishments.
The partnership between the Bank Group and Saudi Arabia focuses on co-financing initiatives through the Saudi Development Fund, which has contributed to the concessional financing of development projects in several African countries, with no specific restriction on regions or sectors. Most Fund loans, particularly for infrastructure, went to Morocco, Algeria, Tunisia, Egypt, Mauritania, Senegal and Sudan.
- The Bank has approved several co-financing projects with institutions largely supported by Saudi Arabia, including the Islamic Development Bank (IDB), the OPEC Fund for International Development and the Arab Fund for Economic and Social Development.
- In 2017, the Bank and the IDB signed a three-year co-financing agreement for a portfolio of development projects for the benefit of common Regional Member Countries, with a particular focus on those facing conflict or fragility situations. Thus, a pipeline of US $1 million (US $500 million from each institution) is set aside to promote cooperation between the two institutions and strengthen their mutual interventions in capacity-building programs, promotion of private sector and guarantee instruments.
- 06/10/2017 - ADEA signs MoU with IsDB on cooperation in the education sector in Africa
- 02/12/2013 - MDBs meet to discuss alignment of procurement policies and procedures
- 04/05/2012 - Saudi Arabia’s AfDB Governor, Calls for a Stronger Working Relationship between the Bank and BADEA
- 16/09/2011 - Four Countries Join Deauville Partnership in Support for MENA Reform