Saudi Fund for Development spotlights $3bn in support for small island states amid SDG push
NEW YORK: The Saudi Fund for Development has channeled more than $3 billion into development programs across 22 small island developing states, an official told a UN session on Thursday, as member states examined strategies to accelerate progress on the Sustainable Development Goals ahead of the 2030 deadline.
Abdullah Al-Sakran, executive director of the fund’s strategy and development sector, said the financing has supported high-quality programs in sanitation, water, energy, transport and essential infrastructure across Small Island Developing States, or SIDS, which face acute challenges tied to development, energy security and economic growth.
The SDGs are a set of 17 global targets adopted by UN member states in 2015 to end poverty, protect the environment, and ensure prosperity for all by 2030, and they form the backbone of the international development agenda that the fund’s work is designed to advance.
Al-Sakran cited a new agreement with Palau to support its financial sector as the fund’s first cooperation with the Pacific nation, saying the program was intended not only to deliver direct support but also to stimulate the local economy by facilitating the work of local companies and generating impact beyond the scope of the financing itself.
