Riyadh, The Saudi Fund for Development (SFD) CEO, Sultan bin Abdulrahman Al-Marshad, met with several heads of state on the sidelines of the Saudi-African summit in Riyadh.
Al-Marshad met with the President of the Transitional Phase in the Republic of Gabon, General Brice Cloutier Olegé Nguema, and discussed opportunities for development cooperation between the two sides to support vital sectors in Gabon.
He also met with the President of the United Republic of Tanzania, Samia Suluhu Hassan, at her residence in Riyadh and reviewed the development projects and programs financed by the Fund in Tanzania with her.
Furthermore, Al-Marshad met with the President of the Republic of Malawi, Lazarus Chakwera, at the Fund’s headquarters in Riyadh to review the development projects and programs financed by the Fund in Malawi.
Additionally, the SFD CEO met with the President of the Republic of Tajikistan, Emomali Rahmon, at his residence in Riyadh, in the presence of the Saudi Ambassador to Tajikistan, Walid Al-Rasheedan, to discuss the development projects and programs financed by the Fund in Tajikistan.
The Saudi Fund for Development signed, at the Saudi-Arab-African Economic Conference in Riyadh, 14 development loan agreements to support 12 African countries with a value exceeding SAR2 billion, including a development agreement to finance a project to construct and rehabilitate the (Mangochi – Makanjira) highway in Malawi, worth SAR75 million, in addition to an agreement to fund the electricity transmission line project between Benaco and Kiaka in Tanzania, worth SAR48.75 million.
The agreements come as a continuation of the Fund’s ongoing development efforts to support social growth and economic prosperity in Africa. The Fund has implemented more than 400 development projects and programs in 47 African countries, with a total value of more than $11 billion, since its establishment in 1974.
Source: Saudi Press Agency