Riyadh, February 1, 2024, Deputy CEO of the Saudi Fund for Development (SFD), Eng. Faisal Al-Qahtani, hosted a meeting today at the SFD's headquarters in Riyadh with Dr. Zul-Kifl Salami, Senior Adviser to the President of the Republic of Benin, along with his accompanying delegation. The discussions during the meeting encompassed an overview of the SFD's financed projects in Benin and the formulation of strategies to enhance development cooperation between the two nations.
Since 2008, the SFD has played a crucial role in supporting Benin by providing soft loans for six development projects and programs, totaling over $105 million. These initiatives span various sectors such as health, education, transport, communications, and energy, contributing significantly to the advancement of Benin's infrastructure and services. Additionally, the Kingdom of Saudi Arabia has earmarked two grants, amounting to $8 million, to bolster water security efforts in Benin. These grants will aid in providing essential water resources and mitigating the impact of drought in the region.
The implementation of these projects aligns with the Saudi program for drilling wells and rural development in Africa, underlining the Kingdom's commitment to fostering sustainable development and strengthening ties with its international partners. The meeting served as a platform to explore avenues for further collaboration and the continued advancement of shared development objectives between Saudi Arabia and Benin.
