Saudi Fund for Development Continues Providing Financial Aid Amid Geopolitical Tensions
SFD supports Sudan, Cameroon, Palau with funding amid global tensions.
Riyadh: The Saudi Fund for Development (SFD) has continued to provide financial aid to countries such as Sudan, Cameroon, and Palau despite growing geopolitical tensions.
Established in 1974 and commenced operations in 1975, SFD has financed more than 800 development projects in over 100 countries with a cumulative value exceeding $22 billion.
The fund provides financing across various sectors including health, education, transport, water, and energy.
Its projects aim to improve living conditions, strengthen local capacities, and generate job opportunities for millions of people in developing countries.
SFD's financial support
Improving water access in Sudan
In January, SFD signed a $10 million memorandum of understanding with Sudan and the Office of the United Nations High Commissioner for Refugees (UNHCR) to strengthen water supply systems in the North African nation.
The agreement aims to improve essential services for vulnerable populations and includes solar-powered operations, technical capacity building, and community participation.
Funding for industrial city project in Oman
In February, SFD signed a memorandum of understanding (MoU) to support the establishment of the Thumrait Industrial City Project in Oman with a value of $40 million.
The project spans 3.94 million square meters and includes construction and equipping administrative buildings, service facilities, public amenities, road development, electrical infrastructure, water distribution networks, and two wastewater treatment plants.
Road rehabilitation in Cameroon
In March, SFD signed a development loan agreement with Cameroon to finance the rehabilitation of the Sorawel-Dourbeye Road.
The project, valued at $75 million, aims to reduce isolation, strengthen connectivity, facilitate regional trade, improve access to essential services and support regional economic integration.
Helping hand to Palau
In April, SFD signed a $15 million development loan agreement with the Republic of Palau, marking the Fund's first-ever development partnership in the Pacific island nation.
The funds will empower local entrepreneurs and foster sustainable grassroots economic growth.
Cooperation agreement to support developing nations
In May, SFD signed a framework cooperation agreement with Banque Saudi Fransi.
This collaboration aims to provide integrated financing products and solutions and banking services to support Saudi companies participating in development projects in various countries around the world.
Established in 1974 and commenced operations in 1975, SFD has financed more than 800 development projects in over 100 countries with a cumulative value exceeding $22 billion.
The fund provides financing across various sectors including health, education, transport, water, and energy.
Its projects aim to improve living conditions, strengthen local capacities, and generate job opportunities for millions of people in developing countries.
SFD's financial support
Improving water access in Sudan
In January, SFD signed a $10 million memorandum of understanding with Sudan and the Office of the United Nations High Commissioner for Refugees (UNHCR) to strengthen water supply systems in the North African nation.
The agreement aims to improve essential services for vulnerable populations and includes solar-powered operations, technical capacity building, and community participation.
Funding for industrial city project in Oman
In February, SFD signed a memorandum of understanding (MoU) to support the establishment of the Thumrait Industrial City Project in Oman with a value of $40 million.
The project spans 3.94 million square meters and includes construction and equipping administrative buildings, service facilities, public amenities, road development, electrical infrastructure, water distribution networks, and two wastewater treatment plants.
Road rehabilitation in Cameroon
In March, SFD signed a development loan agreement with Cameroon to finance the rehabilitation of the Sorawel-Dourbeye Road.
The project, valued at $75 million, aims to reduce isolation, strengthen connectivity, facilitate regional trade, improve access to essential services and support regional economic integration.
Helping hand to Palau
In April, SFD signed a $15 million development loan agreement with the Republic of Palau, marking the Fund's first-ever development partnership in the Pacific island nation.
The funds will empower local entrepreneurs and foster sustainable grassroots economic growth.
Cooperation agreement to support developing nations
In May, SFD signed a framework cooperation agreement with Banque Saudi Fransi.
This collaboration aims to provide integrated financing products and solutions and banking services to support Saudi companies participating in development projects in various countries around the world.
