$5 Billion Saudi investment in Turkiye.
According to Anatoly, the Saudi Arabian Development Fund announced in a statement that the contract for the deposit of 5 billion dollars with the Central Bank of Turkey has been signed.
This statement states: With the decision of King Salman bin Abdulaziz and Crown Prince Muhammad bin Salman, an important decision was made to strengthen Turkey-Saudi relations and an agreement was reached between the Minister of Tourism of Saudi Arabia, the Chairman of the Board of Directors of the Country Development Fund and the Governor of the Central Bank of Turkey for the deposit of 5 billion Dollars have been obtained.
The statement said: This deposit agreement is not only a proof of the close cooperation and historical relations between Saudi Arabia and Turkey, but also shows Riyadh’s commitment to support the economic and social growth and sustainable development of Turkey. With this agreement, the Kingdom of Saudi Arabia declares its strong support for the Turkish people and its confidence in the future of the Turkish economy.
Relations between Turkey and Saudi Arabia have entered the normalization phase since last year. Earlier, Ankara had problems with Riyadh in the case of the murder of Saudi journalist Jamal Khashoggi, and relations between the two countries had entered a difficult phase. Nevertheless, due to economic and political issues, Erdogan decided to improve relations with Saudi Arabia, and gradually the process of normalizing relations began.
