Latest news with #SultanAl-Marshad
Saudi Gazette
a day ago
- Business
- Saudi Gazette
SFD signs deal worth over $38 million to enhance infrastructure in Tunisia
Saudi Gazette report TUNIS — Saudi Fund for Development (SFD) Chief Executive Officer Sultan Al-Marshad signed on Saturday a new development loan agreement with Tunisian Minister of Economy and Planning Dr. Samir Abdelhafidh to finance the establishment of an Oasis Hub Project in southern Tunisia. The loan, exceeding $38 million, was signed in the presence of Saudi Ambassador to Tunisia Dr. Abdulaziz Al-Saqr. The agreement reflects the strong bilateral development partnership that has spanned nearly 50 years. The Oasis Hub Project aims to support sustainable rural development through the reclamation of more than 1,000 hectares of agricultural land across various regions of Tunisia. The project includes the drilling and equipping of 22 wells, the expansion of rural villages and their infrastructure, and the construction of over 285 housing units for local beneficiaries. Additionally, the project will enhance the region's infrastructure by building roads, pipelines, and networks for potable and irrigation water, while also supporting the development of educational institutions, agricultural facilities, and cultural, social, and commercial centers. These efforts collectively aim to improve the quality of life and stimulate economic and social growth in Tunisia's southern governorates. The agreement is part of SFD's ongoing efforts to promote sustainable development in Tunisia by financing infrastructure projects that contribute to improving living standards, creating job opportunities, and supporting the achievement of the Sustainable Development Goals (SDGs). Since it began operations in Tunisia in 1975, SFD has financed 32 development projects and programs through concessional loans totaling more than $1.2 billion, in addition to grants provided by Saudi Arabia through SFD, amounting to over $105 million. Meanwhile, Tunisian Prime Minister Sarra Zaafrani Zenzri received Saudi Fund for Development (SFD) Chief Executive Officer Sultan Al-Marshad in Tunis on Saturday. The reception was also attended by Tunisian Minister of Economy and Planning Samir Abdelhafidh, Saudi Ambassador to Tunisia Dr. Abdulaziz Al-Saqr, and other officials. Zenzri and Al-Marshad reviewed ways to strengthen development cooperation between the two countries and highlighted the longstanding bilateral partnership that spans over five decades, particularly in financing key development projects in Tunisia. Al-Marshad also met with Tunisian Minister of Health Dr. Mustapha Ferjani in the presence of the Saudi ambassador. They discussed ongoing health projects funded by SFD and explored opportunities to support the Tunisian health sector. The meetings come as part of Al-Marshad's official visit to Tunisia, during which a development loan agreement worth over $38 million is scheduled to be signed with the Tunisian Ministry of Economy and Planning to support infrastructure projects in the country.
Arab News
24-02-2025
- Business
- Arab News
Saudi fund chief receives UN official
RIYADH: Saudi Fund for Development CEO Sultan Al-Marshad received UN-Under Secretary-General Haoliang Xu and his accompanying delegation in Riyadh on Monday. During the meeting, the two sides discussed ways to enhance development cooperation, the Saudi fund wrote in a post on X. Meanwhile, Saudi Deputy Minister for International Multilateral Affairs Abdulrahman Al-Rassi met with Ambassador of Spain to Saudi Arabia Jorge Hevia and the UN Resident Coordinator in the Kingdom Mohamed Zarkani to discuss matters of mutual interest in Riyadh on Monday, the Foreign Ministry wrote on X.
Arab News
11-02-2025
- Business
- Arab News
Saudi fund grants $20m loan for Suriname power grid
RIYADH: The Saudi Fund for Development has signed its first concessional loan agreement with Suriname, allocating $20 million to expand the country's electricity transmission and distribution networks. The agreement was signed by Sultan Al-Marshad, the fund's CEO, and Kermechend Stanley Raghoebarsing, Suriname's minister of finance and planning, the Saudi Press Agency reported on Tuesday. The project aims to expand the electricity network in the capital Paramaribo, and the city of Nickerie, improving energy accessibility and grid efficiency. It will also extend electricity to farms and factories across multiple regions, with transmission lines covering approximately 50 km, the SPA reported. This agreement marks the first collaboration between the Saudi fund and Suriname, reflecting the former's 50-year commitment to supporting developing nations' economic, social, and developmental challenges. The project aligns with the fund's ongoing efforts to enhance infrastructure and economic prosperity worldwide, the SPA added.
Arab News
08-02-2025
- Business
- Arab News
Saudi fund chief receives Argentinan minister
RIYADH: Sultan Al-Marshad, the CEO of the Saudi Fund for Development, received the Argentine Minister of Foreign Affairs Gerardo Werthein and his accompanying delegation in Riyadh on Saturday. The two sides discussed the Saudi fund's development activities in Argentina, its official account wrote in a post on X. Al-Marshad recently received the Executive Director and Secretary-General of the International Desalination and Reuse Association Shannon McCarthy, and the parties discussed ways to cooperate to help support the water sector in developing countries around the world.
