Riyadh: The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, signed today,  a new development loan agreement marking the Fund’s first presence in the country, worth USD $100 million with the Province Governor of Córdoba, H.E. Juan Schiaretti and the Province Governor of Santa Fe, H.E. Omar Perotti, to help fund the Interprovincial Aqueduct Santa Fe - Córdoba Project (Phase 1, Block B-C) in Argentina, through SFD. The signing ceremony took place at the SFD headquarters in Riyadh, Saudi Arabia.

It was attended by the Minister of Public Works of the Province of Córdoba, Mr. Ricardo Sosa, Minster of Public Services of the Province of Córdoba, Mr. Fabian Lopez, Minister of Economy of the Province of Santa Fe, Mr. Walter August, and by official representatives from both parties.

This agreement will support the growing demand for potable water in Argentina’s provinces of Santa Fe and Córdoba, which will contribute towards a more inclusive, robust, and resilient economy in the country. It will also contribute towards improving the health, well-being, and quality of life of people through access to clean water and sanitation. Moreover, it will help advance the socio-economic development, by creating both direct and indirect jobs.

Importantly, this project also supports the realization of the UN Sustainable Development Goals (SDGs), specifically SDG 3, Good Health and Wellbeing, and SDG 6, Clean Water and Sanitation.

Phase 1 of the project will develop from Coronda, in the province of Santa Fe, to San Francisco, in the province of Córdoba. Upon completing the first phase, the project will provide more than 410,000 people with access to safe, drinkable water, and it will also foster development and cohesion in the provinces of Santa Fe and Córdoba.

On this occasion, the Province Governor of Córdoba, H.E. Juan Schiaretti, said “It is a great honor to have signed this loan agreement for $100 million to build an aqueduct that will benefit hundreds of thousands of people in the provinces of Santa Fe and Córdoba. It is also a privilege to be part of the first economic development corporation between the SFD and the Republic of Argentina. This signing marks the beginning of a strong economic partnership between the SFD and Argentina, and we are grateful for the support that will help our development.”

The Province Governor of Santa Fe, H.E. Omar Perotti, stated “Today is an important day for Argentina, marking our first collaboration with SFD to establish an aqueduct that will change many lives for the better. We thank SFD and are confident that this aqueduct, in addition to benefiting our people, will mark a historic step towards long lasting development corporation.”

On his part, the CEO of SFD, H.E Sultan Al-Marshad, said: “Access to safe water, sanitation, and hygiene is one of the most basic human needs for health and well-being, and helps to prevent a range of water related diseases. We are proud to play a role in this important initiative and look forward to continuing to support projects that improve access to potable water in developing countries, and which help to positively impact the lives of many.”

This agreement makes Argentina the 93rd country to benefit from the SFD, which signifies SFD’s commitment to promoting sustainable development across Latin America, enhancing living standards and contributing towards socio-economic growth.

In line with its mission to promote global sustainable development since 1975, SFD has funded more than 750 development projects worth US$20 billion in over 90 countries around world. It carries out its development projects across a wide range of sectors, including social infrastructure, transport and communications, agriculture, and renewable energy, among others.

About the Saudi Fund for Development

The Saudi Fund for Development (SFD) is a government entity that provides soft development loans and grants to finance development projects and programs in developing countries.

Since 1975, SFD has financed over 750 development projects worth US$20 billion in over 90 countries around world across various sectors such as transportation and communications, social infrastructure, agriculture, energy, industry and mining, and others. The projects support generating socio-economic development and help to improve the living standards of disadvantaged communities in countries most in need. SFD's activities are aligned with the international development principles and contribute towards realizing the UN's Sustainable Development Goals. Moreover, it unifies its efforts in development support through partnerships and cooperation with regional and international organizations.

https://www.sfd.gov.sa/en

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