Saudi: SFD grants $18.7bln soft development loans

Saudi riyal. Image used for illustrative purpose. Getty Images/Bloomberg Creative

The fund endorsed development grant projects in 23 countries across Asia, Africa, and other regions, with a total value of $19.40 billion

Staff Writer, Mubasher

August 22, 2023

PHOTO
Saudi riyal. Image used for illustrative purpose. Getty Images/Bloomberg Creative

A total of 739 loans were secured to finance development projects and programmes in 84 developing countries around the world, SFD highlighted on the X platform, formerly known as Twitter.

The fund endorsed development grant projects in 23 countries across Asia, Africa, and other regions, with a total value of $19.40 billion.

SFD underlined that the loans and grants “supported socio-economic development and enhanced the lives of many.”

Earlier this month, the Saudi fund announced an investment valued at $20 million for the construction of the new Mangoky Bridge, which is the longest bridge in Madagascar, measuring over 800 metres.

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