DUSHANBE: Sultan Al-Marshad, CEO of the Saudi Fund for Development, on Monday signed a $20 million development loan agreement with Tajikistan’s Finance Minister Kahhorzoda Fayziddin Sattor to support the fifth phase of the Secondary Schools Project in Tajikistan.
The signing ceremony was attended by Tajikistan’s Deputy Finance Minister Majidi Yusuf Khayrullo and Saudi Ambassador to Tajikistan Waleed Al-Reshiadan, along with officials from both sides.
The agreement will fund the construction of 19 schools across Tajikistan, meeting the increasing demand for education. Upon completion, it is expected to improve the country’s educational environment, benefiting around 30,000 students.
It comes as part of the SFD’s commitment to enhancing public education in Tajikistan and supporting sustainable development in developing nations worldwide. With this agreement, the SFD’s total contribution to Tajikistan’s education sector reached $95 million, funding a total of 76 public schools.
Additionally, it will stimulate Tajikistan’s economy by generating direct and indirect employment opportunities during both the construction phase and the hiring of teachers across various schools.
This project supports the UN Sustainable Development Goals, expanding access to quality education for children nationwide. It marks a significant milestone in the 20-year partnership between the SFD and Tajikistan.
Before the signing ceremony, Al-Marshad attended the opening of Shahrinav School, a part of the fourth phase of the project, funded by the SFD with $35 million. The school features 36 classrooms and serves 620 students.
The SFD, founded in 1974, boasts decades of experience, having executed more than 700 development projects globally valued at $18.7 billion. In Tajikistan, it has financed 12 projects, totaling over $190 million, across key sectors.
