In a historic move reflecting Saudi Arabia’s commitment to international development, the Saudi Fund for Development announced the establishment of the “Saudi Fund for Development Program” on the occasion of its 53rd anniversary. This announcement comes as part of a new strategy aimed at enhancing the Fund’s efforts to support comprehensive and sustainable development projects in various countries worldwide.
On this occasion, the Chairman of the Board of Directors of the Saudi Fund for Development stated: “We are pleased to announce this initiative, which comes within our vision to enhance the Kingdom’s role in supporting international development, and which will contribute to empowering communities and achieving sustainable development in accordance with the United Nations Sustainable Development Goals.”
Since its establishment in 1970, the Saudi Fund for Development has provided concessional loans and grants to finance development projects in more than 90 countries around the world, with a total value exceeding $100 billion. Since its inception, the Fund has focused on supporting vital sectors such as infrastructure, energy, water, health, and education, contributing to improving the quality of life of millions of people.
Under the new program, the Fund will focus on supporting projects that enhance sustainable development and contribute to achieving the United Nations Sustainable Development Goals, with a particular focus on enhancing climate change adaptation capacity and supporting the most vulnerable communities.
This initiative comes within the framework of Saudi Vision 2030, which aims to enhance the Kingdom’s role as an active global partner in the field of international development, and reflects its commitment to achieving the Sustainable Development Goals and supporting the efforts of the international community in this regard.
The Chairman of the Board of Directors concluded his speech by saying: “We believe that sustainable development is the best way to build a better future for all, and we are committed to supporting the efforts of the international community in achieving these noble goals.”
The launch of this program represents an important step in the journey of the Saudi Fund for Development, and reflects the Kingdom’s firm commitment to supporting comprehensive and sustainable development in the world, confirming its leading role in the field of official development assistance.