https://arab.news/cwhtq
- SFD financed 77 health projects that resulted in 325 medical facilities in 45 countries
- The fund also financed 230 projects in 71 countries in the transportation sector, including airports, roads, and ports
RIYADH: Exceeding a total cost of $20 billion, the Saudi Fund for Development has financed 800 projects in more than 100 countries over the last 50 years, according to a top official.
Saudi Minister of Tourism Ahmed Al-Khateeb revealed that the institution has financed 77 health projects that resulted in 325 medical facilities in 45 countries, with a capacity of more than 25,000 beds. Most notable was King Faisal Hospital in Rwanda, which carried out the first kidney transplant in the East African nation.
He was speaking during a ceremony held by the fund to mark the 50th anniversary of its establishment in the capital, Riyadh.
Al-Khateeb, who is also the chairman of the fund’s board of directors, said SFD funded 84 education projects to establish 600 academic facilities benefiting more than 1 million students, according to a statement.
This falls in line with the fund’s vision to be a comprehensive strategic partner that advances the sustainable economic development of the world’s least developed countries.
It also aligns with its mission to empower the stable economic development of countries in need by leveraging the Kingdom’s resources to provide financial, technical, and human support to meet the needs of its partners.
During his speech, the minister said the fund also financed 230 projects in 71 countries in the transportation sector, including airports, roads, and ports.
These initiatives include the Velana International Airport in the Maldives, initially established in 1978, along with its expansion project to boost capacity from 2 million to 8 million passengers, and King Fahd Road in Djibouti. Additionally, the fund has financed 230 oil projects in more than 70 countries.
On the sidelines of the 50th-anniversary celebration, the fund’s CEO, Sultan Al-Marshad, signed a development agreement with Fatima Yasmin, the vice president for sectors at the Asian Development Bank, to help finance a project to develop renewable energy in the Solomon Islands.
The project aims to improve the infrastructure for renewable energy, contribute to reducing dependence on fossil fuels and traditional energy, and enhance sustainable development.
Launched in 1974, the fund has provided backing for sustainable development projects and initiatives across Africa, Asia, and the Pacific, as well as Latin America, the Caribbean, and Eastern Europe.
The entity’s scope of operations encompasses the most underdeveloped and impoverished communities globally, promoting international collaboration and unity to address the obstacles and hardships encountered in advancing development.