Seychelles, September 30, 2023, The CEO of the Saudi Fund for Development (SFD), Sultan Al-Marshad, and Seychelles' Minister of Agriculture, Climate Change, and Environment, Flavien P Joubert, jointly inaugurated the 33 KV Transmission Network of South Mahe Island Project. The event saw the presence of Seychelles' President, Wavel Ramkalayan, Vice President Ahmed Afif, officials from both sides, and representatives from the Arab Bank for Economic Development in Africa.
The SFD made a substantial contribution of $20 million to this significant project, aimed at enhancing the electricity distribution network in South Mahe Island's southern region. The goal is to ensure a reliable power supply for the population and support various sectors of the economy.
The project is set to bring notable improvements to the lives of South Mahe's residents by providing affordable electricity to households and businesses, fostering economic growth, creating jobs, and supporting public health and education. It aligns with SFD's commitment to sustainable development in developing countries and Small Island Developing States (SIDS) worldwide, contributing to the United Nations Sustainable Development Goal 7 for universal access to sustainable and modern energy.
Minister Joubert expressed gratitude for SFD's support in modernizing the electricity infrastructure, enhancing efficiency, and ensuring reliability. Al-Marshad emphasized the importance of electricity as a fundamental utility for national development, highlighting SFD's dedication to improving the lives of South Mahe's people through access to reliable and affordable electricity.
The SFD's long-standing commitment to sustainable development spans over four decades, with the implementation of more than 700 projects worth $18.7 billion in over 90 countries. In Africa alone, SFD has funded over 400 projects and programs in various sectors across 46 countries, amounting to $10.7 billion, constituting a significant portion of its global funding for developing countries.
