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Saudi Arabia 'funding $13.6bn development projects'

RIYADH, September 23, 2017

Saudi government has financed a total of 609 projects worth more than SR51 billion ($13.6 billion) in 82 countries across the globe through the Saudi Fund for Development (SDF), said a report.

The kingdom has been one of the main countries that provide humanitarian and developmental assistance to developing countries, recognising the need of these countries and the importance of cooperation and solidarity among members of the international community, according to the Saudi Press Agency.

The SDF which began its activities in 1975, is the main channel through which Saudi Arabia provides its development assistance, stated the report.

This fund continues to provide assistance to developing countries, since its unification by late King Abdulaziz bin Abdulrahman Al Saud until the present prosperous era of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud.

Since the inception of the Fund until the end of 2016, it had contributed to financing 582 projects and 27 development programmes in 82 developing countries distributed between Africa, Asia and other regions with a total amount up to more than SR51 billion, said the report.

Of this, SR27 billion was allocated to finance 359 development projects programmes in 45 African countries, while SR23 billion was set aside to complete 232 projects in 29 countries across Asia, and 18 projects worth more than SR1 billion in other regions of the world, it added.




Tags: Saudi Arabia | development projects |

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