Saudi Fund for Development … 50 years of global impact

For half a century, the Saudi Fund for Development has been a cornerstone of Saudi Arabia’s international aid efforts, fostering progress, brotherhood and cooperation between the Kingdom and nations across the globe. As a primary instrument of goodwill, it has left an indelible mark on development efforts worldwide.

Established as a government institution, the SFD has consistently pursued its mission to provide developmental support through concessional loans and grants, financing projects in developing countries to stimulate economic and social growth. The fund also aims to assist these nations in overcoming the hurdles and challenges that often impede progress, thus significantly improving their living standards.

By the end of 2021, the SFD had extended 733 developmental loans, breathing life into 695 projects and programs across 84 developing nations, with a total commitment of SR69,328 million ($18,477 million), including two financing agreements with the International Development Association valued at SR905 million ($241,190 million). The SFD’s reach spans diverse sectors including agriculture, industry, mining, transportation, healthcare, communications, housing, urban development, education and energy.

Djibouti, like many nations, has been a beneficiary of the SFD’s generosity since its independence. The fund has contributed significantly to the country’s infrastructure, funding roads, schools, hospitals, and other vital projects.

The SFD has left an enduring impact on the collective memory of both the government and people of Djibouti, as well as numerous other nations. Its legacy is one of cherished remembrances and profound impact. Throughout its five-decade journey, the fund’s officials, administrators and engineers have earned more than just professional accolades — they have cultivated deep-rooted respect, admiration and gratitude from those they have worked with. In the eyes of beneficiaries, these individuals shine as bright stars, their dedication etched permanently in the hearts of the communities they have touched. I can personally attest to the lasting impressions left by many SFD officials. Even today, inquiries about these “time travelers,” those who have moved on but remain firmly rooted in local consciousness, continue to surface in conversations.

In this article, I am echoing the sentiments of countless diplomats and government officials who have witnessed firsthand the fund’s unwavering commitment to development over decades. The SFD stands as a testament to the Kingdom’s ethos of unlimited generosity. This philanthropic spirit is deeply rooted in the nation’s role as the custodian of Islam’s holiest sites, the Two Sacred Mosques.

We are profoundly grateful for the achievements of the SFD. But even more so, we are thankful for what lies ahead — the tireless, ongoing efforts that will shape our future. As Saudi Arabia enters a new era of economic transformation and development, the SFD’s role is set to expand further. The recent Saudi-African Summit, which resulted in billions of dollars in investment and development commitments, underscores the Kingdom’s dedication to global progress, with the SFD playing a crucial role in these initiatives.

The SFD’s leadership aligns with Saudi Arabia’s prominent regional and global standing. It coordinates closely with other Arab development institutions, including the Arab Fund for Economic and Social Development, the Kuwait Fund for Development, the Abu Dhabi Fund, the Islamic Bank, the Arab Bank for Economic Development in Africa, the OPEC Fund for International Development, and the Arab Gulf Program for Development, among others.

We extend our deepest gratitude to the fund, its past and present staff, and to the Kingdom of Saudi Arabia — its king, crown prince, government and people — for their limitless generosity. We implore the Almighty to bestow upon this generous nation continued prosperity, progress and abundance. Djibouti, like many nations, holds Saudi Arabia in the highest regard for its enduring support across time and space.

• Dya-Eddine Said Bamakhrama is the ambassador of Djibouti and dean of the Diplomatic Corps.