Riyadh, Jan 25, 2024, The Chief Executive Officer of the Saudi Fund for Development (SFD), Sultan bin Abdulrahman Al-Marshad, hosted Djibouti's Presidential Advisor for Investment Affairs, Fahmi Ahmed Al Hajj, at the SFD headquarters. The meeting, which took place in the presence of Djiboutian Ambassador to the Kingdom Dya-Eddine Bamakhrama, centered on discussions related to shared development issues and avenues to strengthen the ongoing development cooperation between the two nations.
To kick off the visit, both parties embarked on a tour of the interactive exhibition within the SFD's headquarters. The exhibition provided insights into the fund's prominent developmental projects spanning various developing countries globally. The showcased projects demonstrated their sustainable developmental impact, fostering growth on both social and economic fronts in beneficiary nations.
The SFD initiated its engagement in the Republic of Djibouti in 1982, marked by the signing of the initial agreement to finance the construction of the road linking Djibouti and Tadjoura, named after the Custodian of the Two Holy Mosques, King Fahd bin Abdulaziz Al-Saud. Since then, the Fund has consistently supported economic and social development initiatives in Djibouti, offering soft development loans that contributed to financing 14 projects across water, energy, health, roads, education, and social infrastructure sectors. The cumulative funding for these projects exceeds US $305 million.
Additionally, the Kingdom, through the SFD, extended grants to support development projects in Djibouti, focusing on water, health, education, and infrastructure sectors. The grants amounted to over US $77 million, enabling the implementation of various projects aimed at bolstering socio-economic development in Djibouti. The collaborative efforts underscore the commitment to fostering enduring partnerships and facilitating sustainable development in the region.
