High-Level Meeting: President Kassym-Jomart Tokayev of Kazakhstan met with Sultan bin Abdulrahman Al-Marshad, Chief Executive of the Saudi Fund for Development (SFD), and Saudi Ambassador Faisal bin Hanif Al-Qahtani, to discuss opportunities for enhanced developmental cooperation.
Focus on Development: The discussions centered on financing projects and programs in key sectors to promote social and economic growth in Kazakhstan, reflecting a commitment to leveraging Saudi expertise and funding.
Previous Collaboration: The SFD had previously supported Kazakhstan with a $12 million loan in 2000 to improve transport and communications infrastructure, underscoring a history of productive partnership between the two nations.
Astana, September 6, 2024 – In a significant diplomatic and developmental meeting, President Kassym-Jomart Tokayev of Kazakhstan hosted Sultan bin Abdulrahman Al-Marshad, Chief Executive of the Saudi Fund for Development (SFD), at the presidential palace today. The Saudi ambassador to Kazakhstan, Faisal bin Hanif Al-Qahtani, was also present at the discussion.
The primary focus of the meeting was to explore and expand opportunities for developmental collaboration between Kazakhstan and the SFD. The leaders discussed potential financing mechanisms for various key projects and programs aimed at fostering social advancement and economic prosperity across Kazakhstan. This dialogue reflects a mutual interest in leveraging Saudi Arabia’s developmental expertise and funding to support Kazakhstan’s growth objectives.
Sultan bin Abdulrahman Al-Marshad’s visit is part of his participation in the roundtable meeting of the Arab Coordination Group, an event that underscores ongoing efforts to enhance regional cooperation and development. The SFD, known for its commitment to supporting development in diverse regions, had previously extended its support to Kazakhstan in 2000. At that time, the Fund provided a soft loan of up to $12 million specifically targeted at enhancing Kazakhstan’s transport and communications infrastructure. This past collaboration was instrumental in strengthening the country's road network, which continues to support Kazakhstan's economic development.
Today's discussions signal a continuation of this productive partnership, with a forward-looking approach to identifying new areas for cooperation. The meeting highlighted the SFD’s ongoing commitment to assisting Kazakhstan in achieving its developmental goals and underscores the strengthening ties between the two nations in the pursuit of shared prosperity.