Articles from Saudi Fund for Development

The Saudi Fund for Development (SFD) today signed a USD 15 million development loan agreement with the Republic of Palau, marking the Fund’s first-ever development partnership in the Pacific island nation.

The Saudi Fund for Development (SFD) has signed three development loan agreements with the Republic of Serbia worth $205 million to fund key projects supporting the agriculture, education and energy sectors. This partnership, marking SFD’s first presence in Serbia, is aimed at fostering the country’s long-term socioeconomic growth. The agreements were signed by H.E. Sultan Al-Marshad, CEO of the SFD, and H.E. Siniša Mali, Serbia’s Deputy Prime Minister and Minister of Finance, in the presence of Deputy Ambassador of Saudi Arabia to Bosnia & Herzegovina, Mr. Ali Aldossary.

The Saudi Fund for Development (SFD) celebrated its 50th anniversary in Riyadh today, under the theme "50 Years of Global Impact." The event brought together key development partners to reflect on the SFD’s significant contributions to sustainable development worldwide. Over the past five decades, the SFD has allocated over $20 billion, financing more than 800 development projects and programs in vital sectors, including social infrastructure (education, healthcare, water and sewage, and housing and urban development), communication and transportation (roads, railways, airports and seaports), energy, agriculture, mining and industry, and others.

The Saudi Fund for Development (SFD) will host a Gala Dinner on September 01, 2024, under the theme Celebrating 50 Years of Global Impact, commemorating five decades of driving sustainable global development and progress.

The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed a new development loan agreement with the Minister of Finance of the Republic of Tajikistan, H.E. Kahhorzoda Fayziddin Sattor, through which SFD is contributing $100 million USD to fund the Rogun Hydropower Project, a landmark initiative that will enhance energy, food, and water security, and foster sustainable development in the country.

The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed today two developmental Framework Memorandum of Understandings (MoUs) with the governments of Saint Vincent and the Grenadines, and Saint Kitts and Nevis. The signing took place in Riyadh, Kingdom of Saudi Arabia, as a build-up to the Saudi – CARICOM Summit which begins on Thursday, November 16, 2023.

The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed 14 new development loan agreements worth $580m with 12 African ministers to fund projects in Angola, Burkina Faso, Benin, Burundi, Cabo Verde, Guinea, Malawi, Mozambique, Niger, Rwanda, Sierra Leone, and Tanzania at Saudi-Arab-African Economic Conference in Riyadh.

The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed today, a new development loan agreement marking the Fund’s first presence in the country, worth USD $100 million with the Province Governor of Córdoba, H.E. Juan Schiaretti and the Province Governor of Santa Fe, H.E. Omar Perotti, to help fund the Interprovincial Aqueduct Santa Fe - Córdoba Project (Phase 1, Block B-C) in Argentina, through SFD. The signing ceremony took place at the SFD headquarters in Riyadh, Saudi Arabia.

The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed today an additional development loan agreement with the Prime Minister and Minister of State in Charge of Economy, Planning, and International Corporation of the Republic of Central Africa, H.E. Felix Moloua, through which SFD is contributing $20 million USD to fund the “Completion of a Number of Projects Within the Reconstruction Program.” The signing took place on the sidelines of the 2023 World Bank Group - IMF Annual Meetings in the city of Marrakech, Morocco.

The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, officially inaugurated today in Tajikistan, Shahrinav School, with the Deputy Minister of Education and Science of the Republic of Tajikistan, H.E. Abdullzoda Ziyodullo. The school was inaugurated as part of the fourth phase of the “Constructing and Equipping of Secondary Schools” project in Tajikistan, for which SFD had previously made a contribution of $35 million USD, and which will benefit 25,000 students in the country.

In the presence of the President of the Republic of Seychelles, H.E. Wavel Ramkalayan; The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, officially inaugurated today in Seychelles, the 33 KV Transmission Network of South Mahe Island Project, with the Minister of Agriculture, Climate Change and Environment of Seychelles, Hon. Flavien P Joubert. Attending the inauguration ceremony were the Vice President of the Republic of Seychelles, Mr. Ahmed Afif, alongside other Ministers, the designated representative of BADEA, and government officials from each side.

The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed two new development loan agreements with the Minister of Finance, National Planning and Trade of the Republic of Seychelles, Hon. Naadir Hassan, through which SFD is contributing $25 million to fund the “Social Housing Project” and the “Reconstruction of La Digue School Project”.

In the presence of the Saudi Fund for Development Board of Directors Chairman, H.E. Ahmed Al-Khateeb, the SFD Chief Executive Officer, signed today in Riyadh, two development loan agreements worth a total of $140 million USD to support infrastructure development with the governments of The Bahamas and the Republic of Mauritius. The CEO also signed a letter of intent with the Republic of San Marino to explore potential cooperation in the economic, cultural, and transportation sectors. The agreements and letter of intent signed at World Tourism Day 2023, hosted in Riyadh, Saudi Arabia.

The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed today a new development loan agreement worth USD $77 million with the Prime Minister of Belize, Hon. John Briceño, to fund the “Construction of the Solar Energy Plant Project” in Belize, through SFD.

The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed today SFD’s first development loan agreement worth USD $75 million with the Prime Minister of Saint Lucia, Hon. Philip Joseph Pierre, to fund the “Reconstruction and Rehabilitation of St. Jude Hospital Project” in Saint Lucia, through SFD.

The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed the first development loan agreement worth $10 million in SFD’s headquarters in Riyadh with Hon. Isaac Chester Cooper, Deputy Prime Minister and Minister of The Bahamas Ministry of Tourism, Investments & Aviation.

In implementation of the directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and HRH Crown Prince and Prime Minister, Mohammed bin Salman; and in the presence of H.E. President of the Co-operative Republic of Guyana, Dr. Mohamed Irfaan Ali; the Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed two development loan agreements worth $150 million with the Guyana Minister of Finance Hon. Dr. Ashni Singh, to fund the “Infrastructural Development Works for the Housing Sector Project,” and the “Construction of Wismar Bridge Project,” through SFD.

In implementation of the directives of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, and HRH Crown Prince and Prime Minister, Mohammed bin Salman; the Saudi Fund for Development (SFD) Board of Directors Chairman, H.E. Ahmed Al Khateeb, recently signed three development loan agreements worth $61 million with two Small Island Developing States (SIDS) – Saint Vincent and the Grenadines, and Belize.

Under the directive of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and His Royal Highness Crown Prince Mohammed bin Salman Al Saud, the Saudi Fund for Development (SFD), on behalf of the Kingdom of Saudi Arabia, signed today a $39 million multiyear contribution agreement with the Global Fund to Fight AIDS, Tuberculosis and Malaria. The grant will support the fight to end global pandemics and strengthen health and community systems.

In implementation of the directives from the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness Crown Prince and Prime Minister, Mohammed bin Salman Al Saud, KSA Minister of Tourism and Chairman of the Saudi Fund for Development (SFD) Board of Directors, H.E. Mr. Ahmed Aqeel Al-Khateeb, signed an agreement with the Governor of the Central Bank of the Republic of Turkey, Şahap Kavcıoğlu, to make a significant $5 billion deposit into the Central Bank of Turkey.

The Saudi Fund for Development (SFD) CEO, Mr. Sultan Al-Marshad, and Honorable Gaston Browne, Prime Minister of Antigua and Barbuda, signed an $80 million financing agreement for the expansion project of the University of the West Indies at Five Islands (UWI) in Antigua and Barbuda. The agreement represents a significant milestone, with Antigua and Barbuda being the 85th state to receive funding for a major development project from SFD.

The Saudi Fund for Development (SFD) has inaugurated two new development projects in the water and housing sector and laid the foundation stone for a project in the transportation sector in Djibouti, with a total amount of US$ 137 million dollars.