Riyadh: The Saudi Fund for Development (SFD) has announced the signing of 17 development loan agreements with 13 countries for the fiscal year 1446/1445H (2024). These agreements, amounting to a total of SAR3,701.75 million, aim to finance priority projects that support sustainable development, reinforcing Saudi Arabia’s commitment to providing development assistance worldwide.

According to Saudi Press Agency, the SFD’s 2024 Annual Report specifies the allocation of funds across various regions. The financing package includes two loans in Africa worth SAR337.50 million, five loans in Asia and the Pacific totaling SAR1,147.50 million, four loans in Europe amounting to SAR821.75 million, and six loans in Latin America and the Caribbean valued at SAR1,395 million. Notably, in 2024, the Fund expanded its reach to five new countries: Saint Kitts and Nevis, El Salvador, Nicaragua, Dominica, and Serbia.

Over the past fifty years, the SFD has played a significant role in financing nearly 800 development projects and programs in 100 countries. The total value of these projects exceeds SAR81 billion, contributing to growth and prosperity and aiding in the development of a better future.