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The prize money for the Guardian charity award will be used to set up a venture fund for development of new ideas.
The partnership, which will pool the development expertise of both countries, is the first of its kind between Britain and the Saudi Fund for Development.
Details were vague, but the $60 billion included $15 billion in grants, interest-free loans and concessional loans, $20 billion in credit lines and a $10 billion special fund for development financing.
ISDP launched a Sustainable Development Masters Fellowship Program in partnership with The King Abdullah II Fund for Development, the Jordanian Ministry of Planning and International Cooperation, and the Earth Institute at Columbia University.
Mgeni, who is in charge of a government fund for development in the constituency, said it was a retaliatory attack sparked by incidents last week when the Pokomo protested over Orma grazing their cattle in their farms and farmers attacked the pastoralists and injured hundreds of their livestock.
In delivering the FOCAC 2018 summit opening remarks, Xi pledged $20 billion in new credit lines; $15 billion in foreign aid as grants, interest-free loans or concessional loans; $10 billion for a special fund for development financing; and $5 billion for a special fund for financing imports from Africa.
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Mexico has urged more funding for development.
Additionally, each hydel project would provide the NWFP government with ongoing funds for development projects.
In Britain, Prime Minister David Cameron is pursuing even greater austerity while increasing funding for development.
At the same time, the mix of funding for development efforts is changing.
The funds for development never materialized, and university's plans had several iterations and false starts.
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