In the presence of the Saudi Fund for Development Board of Directors Chairman, H.E. Ahmed Al-Khateeb, the SFD Chief Executive Officer
, signed today in Riyadh, two development loan agreements worth a total of $140 million USD to support infrastructure development with the governments of The Bahamas and the Republic of Mauritius. The CEO also signed a letter of intent with the Republic of San Marino to explore potential cooperation in the economic, cultural, and transportation sectors. The agreements and letter of intent signed at World Tourism Day 2023, hosted in Riyadh, Saudi Arabia.
The second development loan agreement, worth $70 million USD, was signed with the Deputy Prime Minister and Minister of Tourism of the Republic of Mauritius, Hon. Louis Steven Obeegadoo, to fund the “Construction of Rivière des Anguilles Dam Project”. This project will protect the natural environment from floodings, and provide a reliable source of water for drinking, irrigation, and industrial use.
These latest development agreements were signed as part of the SFD’s commitment to support sustainable development in developing countries and Small Island Developing States around the world. They will also contribute towards the realization of the United Nations’ Sustainable Development Goals , specifically SDG 6, Clean water and sanitation, SDG 8, Decent Work and Economic Growth, and SDG 9, Industry, Innovation, and Infrastructure.
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