World Bank lauds Saudi National Water Strategy, recommends other nations follow suit

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Updated 14 September 2022
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World Bank lauds Saudi National Water Strategy, recommends other nations follow suit

RIYADH: As the world faces a severe water resource management crisis, Saudi Arabia has fared well in preserving the sector with the National Water Strategy, said a top official of the World Bank Group.

Speaking to Arab News at the Future Desalination International Conference in Riyadh, Saroj Kumar Jha, the global director of WBG’s water global practice, said that the world needs better water resource management, and the Kingdom is a good example to follow.

“I think the work that Saudi Arabia has done in putting together the institutional framework, the National Water Strategy and the Water Law are very good examples that other countries can follow,” Jha said.

Early this month, the Kingdom’s National Water Co. announced its plans to roll out 1,429 projects with a total value exceeding SR108 billion ($28.7 billion) as part of the National Water Strategy and Vision 2030 plans.

This initiative includes expanding the water and wastewater networks coverage and increasing the sewage treatment plant’s capacity, in addition to extending water services coverage to all citizens and residents across the Kingdom.

Jha stressed the importance of water management as it is essential for human life and significantly impacts the economy and climate change.

“Climate change has added another layer of complexity in terms of the risks for the water resources. We have more droughts, floods and extreme events happening,” he explained.

The World Bank is playing a considerable role in supporting developing countries to place appropriate policy frameworks, regulations and institutions to manage water resources more efficiently.

“We are a global institution in 200 countries. We work on broader development issues. Water is just one sector. But we also work on energy, poverty reduction, job creation, public health and education. So, we have a very diverse portfolio,” Jha said.

“In the water sector, we have a portfolio of about $60 billion projects in these countries. And as part of our engagement in these countries, we provide global expertise. We provide global knowledge. We help them to set up the right kind of policies and institutions. And we also provide financing to implement water resource management projects,” he added.

Jha said that the water desalination sector needs technological advancement to reduce the cost of water production and its effect on climate change.

“I think the cost of desalination and its environmental concerns need to be addressed adequately,” he added.

He believes this could be achieved by utilizing entrepreneurial talent and innovation through private investments and partnerships similar to what is happening in the Kingdom.

“I’m very impressed. And I want to see how we can export all these good practices from Saudi Arabia to other countries and that’s why I’m here,” Jha said.


PIF’s Humain invests $3bn in Elon Musk’s xAI prior to SpaceX acquisition

Updated 18 February 2026
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PIF’s Humain invests $3bn in Elon Musk’s xAI prior to SpaceX acquisition

JEDDAH: Humain, an artificial intelligence company owned by Saudi Arabia’s Public Investment Fund, invested $3 billion in Elon Musk’s xAI shortly before the startup was acquired by SpaceX.

As part of xAI’s Series E round, Humain acquired a significant minority stake in the company, which was subsequently converted into shares of SpaceX, according to a press release.

The transaction reflects PIF’s broader push to position Saudi Arabia as a central hub in the global AI ecosystem, as part of its Vision 2030 diversification strategy.

Through Humain, the fund is seeking to combine capital deployment with infrastructure buildout, partnerships with leading technology firms, and domestic capacity development to reduce reliance on oil revenues and expand into advanced industries.

The $3 billion commitment offers potential for long-term capital gains while reinforcing the company’s role as a strategic, scaled investor in transformative technologies.

CEO Tareq Amin said: “This investment reflects Humain’s conviction in transformational AI and our ability to deploy meaningful capital behind exceptional opportunities where long-term vision, technical excellence, and execution converge, xAI’s trajectory, further strengthened by its acquisition by SpaceX, one of the largest technology mergers on record, represents the kind of high-impact platform we seek to support with significant capital.” 

The deal builds on a large-scale collaboration announced in November at the US-Saudi Investment Forum, where Humain and xAI committed to developing over 500 megawatts of next-generation AI data center and computing infrastructure, alongside deploying xAI’s “Grok” models in the Kingdom.

In a post on his X handle, Amin said: “I’m proud to share that Humain has invested $3 billion into xAI’s Series E round, just prior to its historic acquisition by SpaceX. Through this transaction, Humain became a significant minority shareholder in xAI.”

He added: “The investment builds on our previously announced 500MW AI infrastructure partnership with xAI in Saudi Arabia, reinforcing Humain’s role as both a strategic development partner and a scaled global investor in frontier AI.”

He noted that xAI’s trajectory, further strengthened by SpaceX’s acquisition, exemplifies the high-impact platforms Humain aims to support through strategic investments.

Earlier in February, SpaceX completed the acquisition of xAI, reflecting Elon Musk’s strategy to integrate AI with space exploration.

The combined entity, valued at $1.25 trillion, aims to build a vertically integrated innovation ecosystem spanning AI, space launch technology, and satellite internet, as well as direct-to-device communications and real-time information platforms, according to Bloomberg.

Humain, founded in August, consolidates Saudi Arabia’s AI initiatives under a single entity. From the outset, its vision has extended beyond domestic markets, participating across the global AI value chain from infrastructure to applications.

The company represents a strategic initiative by PIF to diversify the Kingdom’s economy and reduce oil dependence by investing in knowledge-based and advanced technologies.