As part of the Saudi Fund for Development’s (SFD) contribution to Saudi Arabia’s Vision 2030 and the Kingdom’s G20 presidency, SFD sponsored the International Institute of Finance (IIF) G20 Conference and participated in a panel discussion at the event, held in Riyadh.
The Just Transition framework discussed at the conference is closely aligned with SFD’s strategic ambition in financing international development projects, and in line with Saudi Arabia’s G20 presidency, and Vision 2030 objectives. The Just Transition framework is a natural progression for SFD and the projects it supports, as the framework seeks to ensure developing nations are included in the conversation surrounding the move toward impactful projects that support sustainable development.
Faisal Al-Kahtani, acting director-general, operations department, said: “Four sustainability-related issues fall under the broader Saudi G20 agenda: Carbon emission, water stress, food safety, and affordable, sustainable energy. SFD has been supporting projects in these areas since 1975. SFD looks at a nation’s critical needs, whether those be in energy, water or other principal development areas and works to finance projects which address a particular need, in line with the UN Sustainable Development Goals.”
SFD has supported renewable energy initiatives in seven African countries, most recently the Samendini Dam in Burkina Faso, which was financed alongside other development partners.
Since 1975, SFD has provided official development assistance (ODA) for more than 1,000 projects in 85 countries through a combination of loans and grants.
