Saudi billionaire offers to help fight AIDS

A Saudi billionaire who is planning major new investments in West Africa has offered to help finance the fight against AIDS in Guinea-Bissau, Prime Minister Carlos Gomes Junior said. Prince Alwaleed Bin Talal Bin Abdulaziz Al Saud, who has accumulated massive wealth through investments in property and shares, made the offer during a four-hour visit to Bissau on Wednesday, the prime minister told reporters after meeting the Saudi tycoon. He did not mention what sum of money might be involved. At the beginning of this year, Guinea-Bissau's health minister Odete Semedo estimated there were nearly 43,000 HIV-positive people in this small West African country of 1.3 million inhabitants. Gomes Junior also said Prince Alaweed had expressed an interest in investing in hotels, banking and industry in Guinea-Bissau, providing the country remains stable following presidential elections planned for 19 June. He gave no further details. The Saudi prince, who is estimated by Forbes magazine to have a personal fortune of US $21.5 billion, flew in from nearby Gambia on his private jet. He arrived in Gambia on Tuesday to attend the 40th birthday celebrations of President Yahya Jammeh and inspect an 18-hectare site where he plans to build a five-star hotel, conference centre and golf course. Gambia's ambassador to Saudi Arabia, Lamin Kaba Bajo, said Prince Alaweed also visited the Jammeh Foundation for Peace Hospital in the capital Banjul with a view to providing aid for it. The hospital is named after President Jammeh. Prince Alaweed bought the Savoy Hotel in London in January this year. He also owns a large stake in the Four Seasons international hotel chain and big holdings in several of the world's leading companies. In recent times his investments have included large holdings in AOL, Ford, Disneyland and Motorola.