Latest news with #Al-Marshad
Leaders
19 hours ago
- Business
- Leaders
Tajik President Meets with CEO of Saudi Fund for Development
President Emomali Rahmon of the Republic of Tajikistan met today with Sultan Al-Marshad, CEO of the Saudi Fund for Development (SFD), who is currently visiting the country. The meeting highlighted the long-standing development partnership between Tajikistan and the SFD, which spans more than two decades. Discussions focused on strengthening cooperation and exploring opportunities to finance key sectors essential to the country's growth. During his visit, Al-Marshad is expected to sign a development agreement targeting the transportation and communication sector. He will also participate in a groundbreaking ceremony for a new educational project. Since launching its operations in Tajikistan in 2002, the SFD has financed 14 development initiatives through concessional loans totaling over $323 million, contributing significantly to improvements in critical areas and enhancing the quality of life in the country. Related Topics : Saudi Arabia's Cultural Development Fund to Showcase Cultural Innovation at Expo 2025 Osaka A Look into the Tasks of Saudi National Development Fund Chambers Federation Discusses Launch of Georgian Bank in Saudi Arabia Saudi Crown Prince receives Georgia's Prime Minister in Riyadh in an official session of talks Short link : Post Views: 19 Related Stories
Saudi Gazette
28-06-2025
- Business
- Saudi Gazette
SFD signs deal worth over $38 million to enhance infrastructure in Tunisia
Saudi Gazette report TUNIS — Saudi Fund for Development (SFD) Chief Executive Officer Sultan Al-Marshad signed on Saturday a new development loan agreement with Tunisian Minister of Economy and Planning Dr. Samir Abdelhafidh to finance the establishment of an Oasis Hub Project in southern Tunisia. The loan, exceeding $38 million, was signed in the presence of Saudi Ambassador to Tunisia Dr. Abdulaziz Al-Saqr. The agreement reflects the strong bilateral development partnership that has spanned nearly 50 years. The Oasis Hub Project aims to support sustainable rural development through the reclamation of more than 1,000 hectares of agricultural land across various regions of Tunisia. The project includes the drilling and equipping of 22 wells, the expansion of rural villages and their infrastructure, and the construction of over 285 housing units for local beneficiaries. Additionally, the project will enhance the region's infrastructure by building roads, pipelines, and networks for potable and irrigation water, while also supporting the development of educational institutions, agricultural facilities, and cultural, social, and commercial centers. These efforts collectively aim to improve the quality of life and stimulate economic and social growth in Tunisia's southern governorates. The agreement is part of SFD's ongoing efforts to promote sustainable development in Tunisia by financing infrastructure projects that contribute to improving living standards, creating job opportunities, and supporting the achievement of the Sustainable Development Goals (SDGs). Since it began operations in Tunisia in 1975, SFD has financed 32 development projects and programs through concessional loans totaling more than $1.2 billion, in addition to grants provided by Saudi Arabia through SFD, amounting to over $105 million. Meanwhile, Tunisian Prime Minister Sarra Zaafrani Zenzri received Saudi Fund for Development (SFD) Chief Executive Officer Sultan Al-Marshad in Tunis on Saturday. The reception was also attended by Tunisian Minister of Economy and Planning Samir Abdelhafidh, Saudi Ambassador to Tunisia Dr. Abdulaziz Al-Saqr, and other officials. Zenzri and Al-Marshad reviewed ways to strengthen development cooperation between the two countries and highlighted the longstanding bilateral partnership that spans over five decades, particularly in financing key development projects in Tunisia. Al-Marshad also met with Tunisian Minister of Health Dr. Mustapha Ferjani in the presence of the Saudi ambassador. They discussed ongoing health projects funded by SFD and explored opportunities to support the Tunisian health sector. The meetings come as part of Al-Marshad's official visit to Tunisia, during which a development loan agreement worth over $38 million is scheduled to be signed with the Tunisian Ministry of Economy and Planning to support infrastructure projects in the country.
