Saudi Fund for Development Provides Over $580 Million in Development Loans to African Countries for Key Vital Projects
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Friday, November 10, 2023
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The Saudi Fund for Development (SFD) Chief Executive Officer, H.E.
Key Points:
- 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.
- On this occasion, the CEO of SFD, H.E Sultan Al-Marshad, said: “The SFD is proud to continue partnering with African countries through contributing towards supporting development projects that will have a tangible impact on the lives of millions of people.
- With these new agreements and MoU, we are taking a step further towards a brighter and more equitable Africa.”
SFD has funded over 400 sustainable development projects worth US$10.7 billion in 46 countries, accounting for 57% of its funding in developing countries.