RIYADH: At a time when the world is getting fragmented due to geopolitical tensions and ongoing wars, Saudi Arabia’s development fund is becoming a beacon of hope, as it continues to provide soft loans and grants for emerging economies.
Established in 1974 and commenced operations in 1975, the Saudi Fund for Development has financed more than 800 development projects in over 100 countries, with a cumulative value exceeding $21 billion.
SFD’s financing spans across multiple sectors, including health, education, and transport, as well as water and energy, with the aim of improving living conditions, enhancing capacity building, and creating job opportunities for millions of people in emerging nations.
As the fund now celebrates its 50th year of operations, SFD’s offerings for developing nations show no signs of slowing down.
Here are the highlights of its activities so far this year:
